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 an energy efficiency technology company that regularly publishes detailed financial and corporate updates, making its news flow important for investors and observers of industrial and infrastructure markets. The company designs and manufactures energy-saving technology built on its proprietary pressure exchanger platform, with a long-standing focus on desalination and broader applications across multiple industries.
News about Energy Recovery frequently centers on quarterly and annual financial results. The company issues earnings press releases that include revenue, margin, and cash flow information, along with segment and channel data for its Water and Emerging Technologies segments and for megaproject, original equipment manufacturer, and aftermarket revenue. These releases are often accompanied by management commentary and letters to shareholders discussing business performance and outlook.
Another recurring theme in ERII news is capital allocation. The company has announced Board-authorized share repurchase programs, describing the size of each authorization, the intended time frame, and the flexibility management has in executing repurchases using cash on hand. Such announcements provide insight into how Energy Recovery balances growth investments with returning capital to shareholders.
Corporate news also includes leadership updates and strategic initiatives. For example, Energy Recovery has reported appointments to key roles such as Chief Technology Officer and Vice President, Wastewater, linking these changes to its strategy and focus on technical and operational excellence. Together, these news items offer a view into how the company manages its technology platform, cost structure, and long-term growth plans. Investors following ERII can use this page to review earnings releases, repurchase announcements, and leadership updates over time.
Energy Recovery (ERII) announced key leadership changes with Dr. Ram Ramanan appointed as new Chief Technology Officer (CTO) and David Kim-Hak promoted to Vice President, Wastewater. Dr. Ramanan, bringing over 30 years of product innovation experience from companies like Bloom Energy, will assume CTO duties on March 3, 2024.
Current CTO Dr. Farshad Ghasripoor will retire after 12 years with the company but continue as an executive advisor through October 2025. The new VP Wastewater role was created to capitalize on growth opportunities in municipal and industrial wastewater treatment.
Dr. Ramanan holds a doctorate from Ohio State University, completed postdoctoral work at Stanford, and has over 50 patents. Kim-Hak, previously Senior Director of Product Management and Technical Support, has been with Energy Recovery for six years and played a key role in the company winning the Most Innovative Company in Desalination Technology award at the 2024 IDRA World Congress.
Energy Recovery (NASDAQ: ERII) has announced it will release its financial results for Q4 and full year 2024 after market close on February 26, 2025. The company will host a conference call to discuss the results on the same day at 2 p.m. PT / 5 p.m. ET.
The earnings call will be accessible via toll-free numbers for US/Canada (+1 877-709-8150) and international listeners (+1 201-689-8354). A replay will be available until March 26, 2025, accessible through both telephone and webcast. The replay access code is 13751124.
Energy Recovery (NASDAQ: ERII) has announced it will release its fourth quarter and full year 2024 financial results on February 26, 2025, after market close. The company will host a conference call to discuss the results on the same day at 2 p.m. PT / 5 p.m. ET.
A live conference call will be available via toll-free numbers for US/Canada (+1 877-709-8150) and international callers (+1 201-689-8354). A replay will be accessible until March 26, 2025, through both telephone and webcast. The replay access code is 13751124.
Energy Recovery (Nasdaq: ERII) has been awarded the Breakthrough Innovation Award for Most Innovative Company in Desalination Technology at the 2024 IDRA World Congress in Abu Dhabi. The company's flagship PX® Pressure Exchanger® technology has been instrumental in transforming the seawater reverse osmosis desalination industry.
With over 35,000 pressure exchangers deployed globally, Energy Recovery serves clean water to more than 70 million people daily. Their technology reduces energy consumption in SWRO facilities by up to 60%, resulting in estimated annual energy cost savings of $6.3 billion for customers. The company's latest innovation, the PX Q400, achieves peak efficiency of up to 98% and represents their highest-performing pressure exchanger for SWRO desalination and industrial wastewater facilities.
Energy Recovery (ERII) has announced a new share repurchase program authorizing the purchase of up to $50 million of its outstanding common stock over 12 months, starting November 2024. The company plans to fund the buyback using cash on hand, with purchases to be made through open market trades, block trades, and private negotiations. CEO David Moon stated this decision reflects their ability to maintain strong business growth while providing generous capital return to shareholders. The timing and amount of purchases will be based on market conditions, regulatory requirements, and other factors.
Energy Recovery (NASDAQ: ERII) has announced it will release its Q3 2024 financial results after market close on October 30, 2024. The company will host a conference call the same day at 2 p.m. PT / 5 p.m. ET to discuss the results. A conference call replay will be available until November 30, 2024. Additionally, the company will host an investor webinar on November 18, 2024, at 7 a.m. PT to present its strategic vision with senior management.
Energy Recovery (Nasdaq: ERII) announced its financial results for Q3 2024, with revenue reaching $38.6 million, at the upper end of its $35-39 million guidance. The gross margin was 65.1%, a decrease of 480 basis points compared to Q3 2023, due to higher manufacturing and product mix costs. Operating expenses rose by 7.8% to $18.1 million, primarily from increased consulting and employee costs. Consequently, income from operations fell by 22.7% to $7.1 million. Net income was $8.5 million, and adjusted EBITDA stood at $11.6 million. The company holds $139.9 million in cash and investments. CEO David Moon highlighted the company's progress in desalination, wastewater, and CO2 refrigeration businesses, along with a new five-year growth plan to be detailed in a webinar on November 18, 2024.
Energy Recovery (Nasdaq: ERII) has released new performance data for its PX G1300 pressure exchanger, showing successful integration into CO2 refrigeration systems. The technology improves energy efficiency with peaks up to 30% and projected annual energy savings of 15%. It also increases cooling capacity by up to 15% at 95°F, without requiring water usage.
The PX G1300 supports the transition from harmful hydrofluorocarbon (HFC) systems to CO2 refrigeration, which is non-toxic, non-flammable, and has significantly lower global warming potential. The solution addresses efficiency decline in hot weather and provides operational flexibility during heat waves, offering a water-free alternative to current solutions.
Energy Recovery, Inc. (NASDAQ: ERII) has announced an upcoming investor webinar scheduled for November 18th, 2024, from 10 a.m. to approximately noon Eastern Time. The event will feature presentations by key company executives, including:
- CEO David Moon
- CFO Mike Mancini
- Sr. VP of Water, Rodney Clemente
- VP of CO2, Ricardo Freitas
The presentations will focus on the company's strategic vision and will be followed by a live Q&A session for analysts and investors. Interested parties can access the webinar link through the IR Calendar section of Energy Recovery's Investor Relations website. A replay of the event will be made available on the same website after its conclusion.
Energy Recovery (NASDAQ: ERII) has secured contracts worth over $12 million for its PX® Pressure Exchanger® energy recovery devices for three seawater reverse osmosis (SWRO) desalination projects in the United Arab Emirates. The projects have a total capacity of nearly 1 million cubic meters per day, with orders expected to ship by Q4 2024. One contract includes PX installations on a floating desalination barge in the Arabian Gulf.
The contracts will utilize both PX Q400 and PX Q300 models, offering operational sound levels of just 79 decibels. Energy Recovery's PX technology can reduce energy use by up to 60% in SWRO facilities, providing the lowest lifecycle cost of any energy recovery device available. These projects are projected to save over 416 gigawatt hours of energy annually, avoiding 201,265 tons of CO2 emissions per year.