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Energy Recovery Inc - ERII STOCK NEWS

Welcome to our dedicated news page for Energy Recovery (Ticker: ERII), a resource for investors and traders seeking the latest updates and insights on Energy Recovery.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Energy Recovery's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Energy Recovery's position in the market.

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.09%
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News
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.27%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.27%
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none
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.35%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.3%
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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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.48%
Tags
management
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
22.9%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-16.38%
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management
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Rhea-AI Summary
Energy Recovery, Inc. announces contracts to supply the PX Pressure Exchanger to desalination projects in Algeria worth over $28 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.57%
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none
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.79%
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Energy Recovery Inc

Nasdaq:ERII

ERII Rankings

ERII Stock Data

844.76M
55.68M
3.01%
94.05%
4.4%
Iron and Steel Forging
Manufacturing
Link
US
San Leandro

About ERII

energy recovery (nasdaq:erii) recycles and converts wasted pressure energy into a usable asset and preserves pumps that are subject to hostile processing environments. with award winning technology, energy recovery simplifies complex industrial systems while improving productivity, profitability, and efficiency within the oil & gas, chemical processing, and water industries. energy recovery products save clients more than $1.5 billion (usd) annually. headquartered in the bay area, energy recovery has offices in ireland, shanghai, and dubai. for more information about the company, please visit our website at www.energyrecovery.com.