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Energy Recovery, Inc. - ERII STOCK NEWS

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. (NASDAQ: ERII) is a forward-thinking technology company that specializes in transforming wasted pressure energy into valuable assets. Headquartered in the Bay Area, with additional offices in Ireland, Shanghai, and Dubai, Energy Recovery leverages award-winning technology to enhance the productivity, profitability, and efficiency of industrial systems. The company's core operations span the oil & gas, chemical processing, and water industries.

Energy Recovery is committed to sustainability and efficiency. Their innovative solutions help save clients more than $1.5 billion annually by preserving pumps that operate in hostile environments and simplifying complex industrial processes. The company is deeply engaged in engineering, designing, manufacturing, and supplying efficient and sustainable solutions, making industrial processes more efficient.

The company operates in three primary segments: Water, Emerging Technologies, and Corporate. It is particularly renowned for its energy recovery devices (ERDs) and pumps, which are essential to the global reverse osmosis desalination market. The Water segment is the primary revenue driver, reflecting the company's dominant position in this critical area.

Recent achievements include strategic partnerships that further their mission of enhancing industrial efficiency. Energy Recovery continues to innovate, developing new technologies that not only improve industrial processes but also contribute to a more sustainable future.

For detailed information about their products, services, and latest updates, visit their official website at www.energyrecovery.com.

News

Energy Recovery Appoints David Moon as President and CEO

Rhea-AI Summary
Energy Recovery, Inc. (ERII) has appointed David Moon as President and CEO, who has extensive experience in commercial and industrial technologies. Moon will continue to serve on the Board of Directors and is focused on commercializing new applications of the PX technology platform. His previous work includes leadership roles at Carrier Commercial Refrigeration and Heatcraft Worldwide Refrigeration, with a track record of achieving double-digit earnings improvement. Moon's appointment is expected to drive the company's long-term growth and capitalize on growth opportunities in refrigeration and wastewater treatment.
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Energy Recovery Achieves 22% Year-on-Year Quarterly Revenue Growth, Beating Guidance

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Energy Recovery Inc. (Nasdaq:ERII) reported its financial results for Q3 2023, with revenue of $37.0 million, exceeding guidance. Gross margin was 69.9%, higher than estimates, and operating expenses were $16.7 million. Net income was $9.7 million and adjusted EBITDA was $12.0 million. The company also issued its annual Sustainability Report, committing to reduce emissions by 65% by 2026.
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Energy Recovery Announces Leadership Transition

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Energy Recovery, Inc. has appointed David Moon as interim CEO. A search process for a permanent CEO is underway. Moon brings senior leadership experience and will focus on scaling the commercialization of the company's offerings in refrigeration and wastewater treatment.
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Energy Recovery Awarded Desalination Contracts in Algeria Totaling $28 Million

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Energy Recovery, Inc. announces contracts to supply the PX Pressure Exchanger to desalination projects in Algeria worth over $28 million.
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Energy Recovery to Release Third Quarter 2023 Financial Results

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Energy Recovery, Inc. (NASDAQ: ERII) will release its financial results for the quarterly period ending September 30, 2023 on November 1, 2023 after market close. A conference call to discuss quarterly results will also be held. Investors can access the live call and replay over the internet via webcast.
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Energy Recovery and Epta Win Refrigeration Innovation of the Year at RAC Cooling Industry Awards 2023

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Energy Recovery and Epta Group awarded Refrigeration Innovation of the Year for their XTE refrigeration system. The system utilizes Energy Recovery's PX G1300 technology and has demonstrated efficiency improvements over 30% above +40°C compared to traditional systems. Installations at North American and European supermarkets have shown positive results.
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Energy Recovery Establishes Corporate Emissions Reduction Target; Surpasses $5.9 Billion in Energy Savings for Customers According to Latest Sustainability Report

Rhea-AI Summary
Energy Recovery, Inc. releases its fourth annual Sustainability Report, setting a target to reduce emissions by 65% by 2026 from a 2021 baseline. The company helps prevent 17.2 million metric tons of carbon emissions annually and saves $5.9 billion in energy expenses for customers. Achieved sustainability goals, certified as a Great Place to Work, and working to align with climate-related financial disclosures.
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Energy Recovery Affirms FY 2023 Guidance, Continues Investments in Wastewater and CO2 Business Growth

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Energy Recovery Awarded Nearly $17 Million in Desalination Contracts in the Gulf Region

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MSCI Upgrades Energy Recovery’s ESG Rating to AAA

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Energy Recovery, Inc. (NASDAQ: ERII) has been upgraded by MSCI from an AA rating to its highest rating of AAA in its latest ESG assessment. The assessment recognizes Energy Recovery as one of the highest performing companies within the Industrial Machinery industry in MSCI’s All Company World Index, reflecting robust corporate governance and labor management practices and significant opportunities in clean technology.
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FAQ

What is the current stock price of Energy Recovery (ERII)?

The current stock price of Energy Recovery (ERII) is $15.14 as of December 20, 2024.

What is the market cap of Energy Recovery (ERII)?

The market cap of Energy Recovery (ERII) is approximately 882.0M.

What does Energy Recovery, Inc. specialize in?

Energy Recovery specializes in converting wasted pressure energy into usable assets, enhancing productivity and efficiency in various industries.

Which industries does Energy Recovery serve?

Energy Recovery serves the oil & gas, chemical processing, and water industries.

What are Energy Recovery's primary segments?

The primary segments are Water, Emerging Technologies, and Corporate.

What is the main revenue driver for Energy Recovery?

The Water segment is the main revenue driver for Energy Recovery.

How much do Energy Recovery's solutions save clients annually?

Energy Recovery's solutions save clients more than $1.5 billion annually.

Where is Energy Recovery headquartered?

Energy Recovery is headquartered in the Bay Area.

Does Energy Recovery have international offices?

Yes, Energy Recovery has offices in Ireland, Shanghai, and Dubai.

What products does Energy Recovery offer?

Energy Recovery offers energy recovery devices (ERDs) and pumps, among other products.

How does Energy Recovery contribute to sustainability?

Energy Recovery contributes to sustainability by developing solutions that make industrial processes more efficient and sustainable.

Where can I find more information about Energy Recovery?

More information can be found on their official website at www.energyrecovery.com.

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Energy Recovery, Inc.

Nasdaq:ERII

ERII Rankings

#2645 Ranked by Market Cap
N/A Ranked by Dividends

ERII Stock Data

882.01M
56.50M
2.41%
93.45%
3.32%
Pollution & Treatment Controls
Special Industry Machinery, Nec
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United States of America
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