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.
Energy Recovery, Inc. (NASDAQ:ERII) reported its Q3 2022 financial results, highlighting significant growth. Revenue reached $30.5 million, a 47% increase from Q3 2021. The company anticipates a full-year revenue of $121-$125 million, projecting 16%-20% year-on-year growth. Net income was $4.8 million or $0.08 per share, marking a 347% increase from the prior year. Adjusted EBITDA stood at $7.7 million. Successful installations in its CO2 refrigeration segment and new product launches were also noted.
Energy Recovery has launched the PX Q400 Pressure Exchanger, the latest iteration of its industry-leading PX Pressure Exchanger technology. This new flagship product aims to enhance seawater reverse osmosis (SWRO) desalination efficiency. The PX Q400 boasts the highest capacity at 400 gallons per minute, reducing the number of devices needed by 25% compared to the PX Q300. With less than 3% volumetric mixing and the lowest projected lifecycle cost, the PX Q400 promises significant operational efficiencies for desalination and industrial wastewater facilities.
Energy Recovery, Inc. (NASDAQ:ERII) will announce its financial results for Q3 2022 on November 2, after market close. A live conference call will follow at 2 p.m. PT / 5 p.m. ET, where management will discuss the results. Investors can access the call via phone or through the company's website. The replay will be available shortly after the event and will expire on December 2. Energy Recovery focuses on innovative technologies that enhance efficiency in fluid-flow markets, promoting sustainability across various industries.
Energy Recovery (NASDAQ:ERII) has secured over $12.6 million in contracts to supply its PX Pressure Exchanger devices to seawater reverse osmosis facilities in North Africa. These contracts are expected to enhance the region's water supply and significantly reduce carbon emissions by an estimated 130,000 metric tons annually. The PX technology, known for its peak efficiency of 98%, can lower energy consumption in desalination processes by up to 60%. This investment illustrates a commitment to sustainable water solutions in a region facing severe water challenges.
Energy Recovery (NASDAQ:ERII) reported its Q2 2022 financial results, revealing revenues of $20.3 million, which aligns with prior guidance but marks a 2% decline year-over-year. The company reaffirmed its full-year revenue guidance of $130 million, projecting 25% growth. A net loss per share of $0.04 was noted, alongside adjusted EBITDA of $1.0 million. Cash reserves totaled $86.5 million. Notably, Energy Recovery has achieved a significant milestone in its CO2 business and has advanced OEM desalination sales, expecting notable sales growth in the latter half of 2022.
Energy Recovery (NASDAQ:ERII) is set to release its financial results for the quarter ending June 30, 2022, on August 3, 2022, after market close. A live conference call will follow to discuss the results, scheduled for 2 p.m. PT / 5 p.m. ET. Investors can join via toll-free US/Canada number or listen online. The call will also be available for replay until September 3, 2022. Energy Recovery focuses on sustainable technologies for industrial fluid-flow markets, enhancing efficiency across various sectors.
Energy Recovery, Inc. (NASDAQ:ERII) announced three contract awards exceeding $8.2 million for supplying its PX® Pressure Exchanger® devices to seawater reverse osmosis desalination facilities in Asia. The contracts aim to prevent 180,000 metric tons of CO2 emissions annually and support over 4 million cubic meters of water production per day. With increasing water scarcity in China and India, the PX technology is recognized for its ability to reduce energy consumption by up to 60% and minimize operational costs.
Energy Recovery (NASDAQ:ERII) reported a strong first quarter for 2022, achieving $32.5 million in revenue, a 12% increase year-over-year. Income from operations rose by 34% to $8.2 million, while adjusted income increased by 25% to $10.1 million. Net income per share reached $0.14, a 17% YoY growth. The company also confirmed full-year revenue guidance of up to $130 million. Cash and investments totaled $96.6 million, and the MSCI ESG rating improved to AA. Share repurchases amounted to $8.1 million.
Energy Recovery, Inc. (NASDAQ:ERII) will announce its financial results for Q1 2022 on May 4, 2022, after market close. A conference call to discuss these results will be held on the same day at 2:00 PM PT / 5:00 PM ET. Investors can join the call via toll-free numbers or listen online. The conference replay will be available for one month. Energy Recovery specializes in innovative technologies for industrial fluid-flow markets, enhancing sustainability across various industries, with a focus on efficiency in processes like water desalination.
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