Energy Recovery Inc Stock Price, News & Analysis

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.

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.

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.

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.