Welcome to our dedicated page for Energy Recovery news (Ticker: ERII), a resource for investors and traders seeking the latest updates and insights on Energy Recovery stock.
Energy Recovery Inc (ERII) delivers innovative pressure energy conversion solutions for industrial efficiency across water desalination, oil & gas, and chemical processing sectors. This news hub provides investors and industry professionals with centralized access to the company's latest strategic developments.
Track official press releases covering quarterly earnings, product launches, and operational milestones. Our curated collection features updates on ERII's energy recovery devices, emerging technology applications, and global market expansion efforts.
Key content includes analysis of reverse osmosis innovations, partnerships in sustainable industrial solutions, and regulatory developments impacting energy recovery technologies. Bookmark this page for real-time updates on ERII's engineering advancements and industry leadership.
Energy Recovery (NASDAQ: ERII) has announced it will release its financial results for Q1 2025 on May 7, 2025 after market close. The company will host a conference call the same day at 2 p.m. PT / 5 p.m. ET to discuss the results.
Investors can access the live call through US/Canada toll-free number (+1 888-645-4404) or international number (+1 862-298-0702). A replay will be available until June 7, 2025 via toll-free (+1 877-660-6853) or international (+1 201-612-7415) numbers using access code 13753398. The call and replay will also be accessible via webcast.
Energy Recovery (ERII) has reported strong Q4 2024 financial results, with revenue reaching $67.1 million, marking a 17% increase compared to Q4'2023. The company achieved a gross margin of 70.2%, up 110 basis points year-over-year, primarily due to manufacturing transformation benefits.
Operating expenses increased 13.9% to $21.5 million, including $2.5 million in restructuring costs related to workforce reduction and executive transition. Income from operations grew 24.3% to $25.6 million, driven by higher revenue and improved gross margin. The company reported net income of $23.5 million and adjusted EBITDA of $31.3 million. The company's cash and investments position stood at $99.9 million.
Energy Recovery (ERII) has announced a new $30 million share repurchase program starting February 2025, following the completion of its previous $50 million buyback program in Q4 2024. Under the completed program, the company repurchased 3.2 million shares at an average price of $15.39 per share.
The new 12-month buyback program will be executed through open market trades, block trades, and private transactions. The company's President and CEO David Moon emphasized their confidence in growth strategy, margin improvement, and cost reduction initiatives. Management expects to continue generating cash flow exceeding capital expenditures and growth requirements in 2025, maintaining their track record of recent years.
Energy Recovery (ERII) announced key leadership changes with Dr. Ram Ramanan appointed as new Chief Technology Officer (CTO) and David Kim-Hak promoted to Vice President, Wastewater. Dr. Ramanan, bringing over 30 years of product innovation experience from companies like Bloom Energy, will assume CTO duties on March 3, 2024.
Current CTO Dr. Farshad Ghasripoor will retire after 12 years with the company but continue as an executive advisor through October 2025. The new VP Wastewater role was created to capitalize on growth opportunities in municipal and industrial wastewater treatment.
Dr. Ramanan holds a doctorate from Ohio State University, completed postdoctoral work at Stanford, and has over 50 patents. Kim-Hak, previously Senior Director of Product Management and Technical Support, has been with Energy Recovery for six years and played a key role in the company winning the Most Innovative Company in Desalination Technology award at the 2024 IDRA World Congress.
Energy Recovery (NASDAQ: ERII) has announced it will release its financial results for Q4 and full year 2024 after market close on February 26, 2025. The company will host a conference call to discuss the results on the same day at 2 p.m. PT / 5 p.m. ET.
The earnings call will be accessible via toll-free numbers for US/Canada (+1 877-709-8150) and international listeners (+1 201-689-8354). A replay will be available until March 26, 2025, accessible through both telephone and webcast. The replay access code is 13751124.
Energy Recovery (NASDAQ: ERII) has announced it will release its fourth quarter and full year 2024 financial results on February 26, 2025, after market close. The company will host a conference call to discuss the results on the same day at 2 p.m. PT / 5 p.m. ET.
A live conference call will be available via toll-free numbers for US/Canada (+1 877-709-8150) and international callers (+1 201-689-8354). A replay will be accessible until March 26, 2025, through both telephone and webcast. The replay access code is 13751124.
Energy Recovery (Nasdaq: ERII) has been awarded the Breakthrough Innovation Award for Most Innovative Company in Desalination Technology at the 2024 IDRA World Congress in Abu Dhabi. The company's flagship PX® Pressure Exchanger® technology has been instrumental in transforming the seawater reverse osmosis desalination industry.
With over 35,000 pressure exchangers deployed globally, Energy Recovery serves clean water to more than 70 million people daily. Their technology reduces energy consumption in SWRO facilities by up to 60%, resulting in estimated annual energy cost savings of $6.3 billion for customers. The company's latest innovation, the PX Q400, achieves peak efficiency of up to 98% and represents their highest-performing pressure exchanger for SWRO desalination and industrial wastewater facilities.
Energy Recovery (ERII) has announced a new share repurchase program authorizing the purchase of up to $50 million of its outstanding common stock over 12 months, starting November 2024. The company plans to fund the buyback using cash on hand, with purchases to be made through open market trades, block trades, and private negotiations. CEO David Moon stated this decision reflects their ability to maintain strong business growth while providing generous capital return to shareholders. The timing and amount of purchases will be based on market conditions, regulatory requirements, and other factors.
Energy Recovery (NASDAQ: ERII) has announced it will release its Q3 2024 financial results after market close on October 30, 2024. The company will host a conference call the same day at 2 p.m. PT / 5 p.m. ET to discuss the results. A conference call replay will be available until November 30, 2024. Additionally, the company will host an investor webinar on November 18, 2024, at 7 a.m. PT to present its strategic vision with senior management.
Energy Recovery (Nasdaq: ERII) announced its financial results for Q3 2024, with revenue reaching $38.6 million, at the upper end of its $35-39 million guidance. The gross margin was 65.1%, a decrease of 480 basis points compared to Q3 2023, due to higher manufacturing and product mix costs. Operating expenses rose by 7.8% to $18.1 million, primarily from increased consulting and employee costs. Consequently, income from operations fell by 22.7% to $7.1 million. Net income was $8.5 million, and adjusted EBITDA stood at $11.6 million. The company holds $139.9 million in cash and investments. CEO David Moon highlighted the company's progress in desalination, wastewater, and CO2 refrigeration businesses, along with a new five-year growth plan to be detailed in a webinar on November 18, 2024.
