Energy Recovery Announces Share Repurchase Program
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 (ERII) ha annunciato un nuovo programma di riacquisto di azioni che autorizza l'acquisto di fino a 50 milioni di dollari delle sue azioni ordinarie in circolazione nel corso di 12 mesi, a partire da novembre 2024. L'azienda prevede di finanziare il riacquisto utilizzando liquidità disponibile, con acquisti che verranno effettuati tramite operazioni sul mercato aperto, operazioni di blocco e negoziazioni private. Il CEO David Moon ha dichiarato che questa decisione riflette la loro capacità di mantenere una forte crescita aziendale, offrendo al contempo un generoso ritorno di capitale agli azionisti. Il momento e l'ammontare degli acquisti saranno basati sulle condizioni di mercato, i requisiti normativi e altri fattori.
Energy Recovery (ERII) ha anunciado un nuevo programa de recompra de acciones que autoriza la compra de hasta 50 millones de dólares de sus acciones ordinarias en circulación durante 12 meses, comenzando en noviembre de 2024. La compañía planea financiar la recompra utilizando efectivo disponible, realizándose compras a través de operaciones en el mercado abierto, operaciones de bloque y negociaciones privadas. El CEO David Moon declaró que esta decisión refleja su capacidad para mantener un sólido crecimiento empresarial al mismo tiempo que proporciona un generoso retorno de capital a los accionistas. El momento y el monto de las compras se basarán en las condiciones del mercado, en los requisitos regulatorios y en otros factores.
Energy Recovery (ERII)는 자사주 매입 프로그램을 발표하였으며, 이는 5천만 달러까지의 자사 보통주를 12개월간 매입할 수 있도록 허가합니다. 이 프로그램은 2024년 11월부터 시작됩니다. 회사는 기존 현금을 사용하여 매입을 자금 조달할 예정이며, 공개 시장 거래, 블록 거래 및 개인 협상을 통해 구매가 이루어질 것입니다. CEO David Moon은 이 결정이 강력한 비즈니스 성장 유지와 동시에 주주에게 관대한 자본 환원을 제공할 수 있는 능력을 반영한다고 말했습니다. 구매의 시기와 금액은 시장 상황, 규제 요건 및 기타 요소에 따라 달라질 것입니다.
Energy Recovery (ERII) a annoncé un nouveau programme de rachat d'actions autorisant l'achat jusqu'à 50 millions de dollars de ses actions ordinaires en circulation sur une période de 12 mois, dont le début est prévu pour novembre 2024. La société prévoit de financer le rachat en utilisant des liquidités disponibles, avec des achats réalisés par le biais de transactions sur le marché ouvert, de transactions de bloc et de négociations privées. Le PDG David Moon a déclaré que cette décision reflète leur capacité à maintenir une forte croissance commerciale tout en offrant un retour de capital généreux aux actionnaires. Le moment et le montant des achats dépendront des conditions du marché, des exigences réglementaires et d'autres facteurs.
Energy Recovery (ERII) hat ein neues Aktienrückkaufprogramm angekündigt, das den Kauf von bis zu 50 Millionen Dollar seiner ausstehenden Stammaktien über einen Zeitraum von 12 Monaten ab November 2024 genehmigt. Das Unternehmen plant, den Rückkauf mit vorhandenen Mitteln zu finanzieren, wobei die Käufe durch den offenen Markt, Blockgeschäfte und private Verhandlungen getätigt werden. CEO David Moon erklärte, dass diese Entscheidung die Fähigkeit widerspiegelt, ein starkes Unternehmenswachstum aufrechtzuerhalten und gleichzeitig den Aktionären eine großzügige Kapitalrendite zu bieten. Der Zeitpunkt und die Menge der Käufe werden von den Marktbedingungen, den regulatorischen Anforderungen und anderen Faktoren abhängen.
- Authorization of $50 million share repurchase program
- Company has sufficient cash reserves to fund buyback
- Management indicates strong business growth alongside capital return capability
- Significant reduction in cash reserves due to buyback program
Insights
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The program's flexibility in timing and execution method is strategically sound, allowing management to capitalize on market conditions. The company's ability to fund repurchases from cash on hand demonstrates robust liquidity position. This move typically supports share price by reducing float and improving per-share metrics like EPS.
The CEO's statement about funding growth while returning capital suggests strong cash flow generation capabilities. For investors, this balanced approach between growth investment and shareholder returns presents an attractive value proposition.
“With our strategic plan, or Playbook, complete we now have a clear picture of the capital required to fund our growth,” said Energy Recovery's President and CEO David Moon. “As such, we are happy to return a large portion of our cash to shareholders. We are in the fortunate position of being able to provide our shareholders with both strong business growth, as well as generous capital return.”
Under the newly authorized repurchase program, purchases of shares of common stock may be made from time to time through open market trades, block trades and/or privately negotiated transactions, in compliance with applicable state and federal securities laws. The timing and amounts of any purchases will be at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time without prior notice.
Payment for shares repurchased under the program will be funded using the Company's cash on hand.
About Energy Recovery
Energy Recovery is a trusted global leader in energy efficiency technology. Building on our pressure exchanger technology platform, we design and manufacture reliable, high-performance solutions that generate cost savings, increase energy efficiency, and reduce carbon emissions across several industries. With a strong foundation in the desalination industry, Energy Recovery has delivered transformative solutions that increase operational efficiency and environmental sustainability to our customers worldwide for more than 30 years. Headquartered in the
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Source: Energy Recovery, Inc.
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