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 designs and manufactures energy-saving technology built around proprietary pressure exchanger systems for critical infrastructure. Its news centers on water-sector demand, seawater desalination products, launches such as the PX Q650 Pressure Exchanger, and how contracted project timing, product mix, tariffs, manufacturing costs, and operating expenses affect reported results.
Company updates also cover investor-conference participation, management commentary through shareholder letters, organizational changes, and business decisions within its Emerging Technologies activities. The recurring focus is the use of pressure exchanger technology to improve energy efficiency in desalination and other industrial applications while supporting global sales and technical service.
Energy Recovery, Inc. (NASDAQ: ERII) will release its financial results for Q4 and FY 2020 on March 11, 2021, after market close. A conference call will follow at 2:00 PM PST / 5:00 PM EST, hosted by CEO Robert Mao and CFO Joshua Ballard, discussing the results and addressing analyst questions. Investors can access the live call or its replay online. Energy Recovery has been innovating in the industrial fluid-flow market for over 20 years, focusing on improving efficiencies and reducing costs in water and oil and gas sectors.
Energy Recovery (NASDAQ:ERII) has secured a contract with IDE Technologies to replace the existing Calder DWEER energy recovery device at a Chilean desalination facility. This facility supplies water for a copper mine and has a capacity of 300,000 m³/day. Energy Recovery will provide several PX PowerTrain solutions that integrate its award-winning PX technology, known for its efficiency and reliability. This decision follows a successful trial demonstrating PX's superior performance compared to DWEER.
Energy Recovery Inc. (Nasdaq:ERII) reported strong third quarter 2020 results, achieving a record product revenue of $27.4 million, up 26% year-over-year. Gross margin decreased to 71.5%, down 360 basis points year-over-year. Net income rose to $5.4 million, or $0.10 per diluted share, reflecting a $0.01 increase from last year. Year-to-date revenue reached $92.6 million, a 37% increase, boosted by $24.4 million from accelerated revenue recognition post-license termination with Schlumberger. The company remains optimistic about meeting customer demand and further growth in 2021.
Energy Recovery, Inc. (NASDAQ:ERII) will announce its third-quarter financial results for the period ending September 30, 2020, on October 29, 2020, after market close. A live conference call will follow at 2:00 PM PDT / 5:00 PM EDT, hosted by Robert Mao and Joshua Ballard. Investors can access the call via toll-free numbers or the company's investor relations website. The call will be available for replay until November 29, 2020. For over 20 years, ERII has focused on solutions for industrial fluid-flow challenges, particularly in water and oil and gas sectors.
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