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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.

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Energy Recovery, Inc. (NASDAQ:ERII) has announced its plans to release financial results for Q2 2024 and host a conference call on July 31, 2024, after market close. The company will discuss the quarter's results and related matters during the call. Investors can access the live conference call at 2 p.m. PT / 5 p.m. ET via toll-free numbers for US/Canada and international participants. A replay of the call will be available until August 30, 2024. Additionally, investors can access the live call or replay through the company's website 'Events Calendar'. This announcement provides shareholders and analysts with an opportunity to gain insights into Energy Recovery's financial performance and future outlook.

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Energy Recovery, listed on Nasdaq as ERII, has announced strategic hires to support its growth. Ricardo Freitas has been appointed Vice President and General Manager for the CO2 refrigeration business, and Matt Hostetler has been named Chief Human Resources Officer (CHRO). Freitas, with three decades of experience in the heating and cooling industry, will lead the expansion into commercial and industrial refrigeration markets starting June 3. Hostetler, joining on June 19, will focus on talent strategies to drive business performance. These appointments aim to optimize products, processes, and talent to fuel future growth.

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Energy Recovery, Inc. (NASDAQ: ERII) has secured $15 million in contracts to supply its PX® Pressure Exchanger® energy recovery devices to seawater reverse osmosis (SWRO) desalination plants in India. These projects are set to provide over 670,000 cubic meters of clean drinking water daily to Indian communities in 2024. This initiative aims to address India's severe water scarcity issues due to climate change, groundwater depletion, and rising water demands. The implementation of Energy Recovery's technology is expected to significantly enhance operational efficiency and reduce carbon emissions, contributing to sustainable water supply solutions in India.

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Energy Recovery, Inc. (ERII) reported its Q1 2024 financial results, with revenue of $12.1 million in line with guidance. The company saw a decrease in gross margin due to higher manufacturing costs and increased operating expenses. Loss from operations was $10.9 million, with a net loss of $8.3 million and adjusted EBITDA loss of $6.2 million. Cash and investments stood at $129.5 million. CEO David Moon highlighted signed contracts representing 60% of full-year revenue guidance and progress in the CO2 business.

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Energy Recovery, Inc. (ERII) announced its upcoming financial results release for the quarterly period ending March 31, 2024, with a conference call scheduled for May 1, 2024, after market close. The live call will be at 2 p.m. PT / 5 p.m. ET, with a replay available until May 31, 2024. Investors can access the call and replay via phone or webcast.
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Energy Recovery, Inc. (ERII) announces the resignation of Joshua Ballard as Chief Financial Officer by June 2024. A search for a new CFO is ongoing with Korn Ferry. Ballard's departure follows years of revenue and profit growth, strengthening the company's financial position. CEO David Moon expresses gratitude for Ballard's leadership and anticipates a smooth transition.
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Energy Recovery, Inc. (ERII) announces record annual revenue of $128.3 million for 2023, with a 79% growth in wastewater. The company achieved a record quarterly revenue of $57.2 million, a 35% year-on-year increase. Despite a delay in a project shipment affecting water revenue, Energy Recovery's gross margin was 67.8%, exceeding expectations. Operating expenses were $68.0 million, with income from operations at $19.1 million. Net income reached $21.5 million, and adjusted EBITDA was $31.2 million. Cash and investments totaled $122.4 million. CEO David Moon highlighted growth in desalination and wastewater sectors, aiming for market diversification and shareholder value in 2024.
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Energy Recovery, Inc. (ERII) has secured contracts worth over $28 million to supply its latest PX Q400 energy recovery device to mega desalination projects in the Gulf region. The PX Q400 is praised for its top-of-the-line performance and cost-effectiveness, making it the preferred choice for seawater desalination. The contracts highlight Energy Recovery's commitment to innovation and sustainability, with projected carbon emission savings equivalent to removing 130,000 cars from the road annually.
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Energy Recovery, Inc. (ERII) will release its financial results for the year and quarterly period ending December 31, 2023, and will host a conference call to discuss the results and related matters on February 21, 2024, after market close. The live conference call will take place on the same day at 2 p.m. PT / 5 p.m. ET. Investors can access the call and replay over the internet via webcast.
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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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FAQ

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.

Energy Recovery, Inc.

Nasdaq:ERII

ERII Rankings

ERII Stock Data

819.25M
57.33M
2.47%
91.5%
4.14%
Iron and Steel Forging
Manufacturing
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United States of America
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