Energy Recovery Inc Stock Price, News & Analysis

Energy Recovery (NASDAQ: ERII) has secured contracts exceeding $8 million to provide PX® Pressure Exchanger® energy recovery devices to desalination facilities in Chile. These projects will produce over 350,000 cubic meters of fresh water daily, supporting the mining sector, which is crucial for copper and lithium production. The PX technology is anticipated to reduce carbon emissions by approximately 140,000 tons annually and cut energy consumption in desalination by up to 60%. Orders are expected to be fulfilled by Q4 2023, reaffirming Chile's leadership in the Latin American desalination market amidst ongoing water scarcity challenges.

Energy Recovery, Inc. (NASDAQ: ERII) will announce its financial results for the first quarter ending March 31, 2023, on May 3, 2023, after market close. The company will hold a live conference call to discuss these results at 2 p.m. PT / 5 p.m. ET the same day. Investors can join the call by dialing the toll-free number or by accessing it online. A replay will be available shortly after the call, lasting until June 2, 2023.

Energy Recovery designs technology solutions aimed at efficiency and sustainability in fluid-flow markets globally, with a strong focus on commercial and industrial processes.

Energy Recovery (NASDAQ:ERII) announced its PX G1300 energy recovery device is central to Epta Group's next-generation CO₂ refrigeration system, the XTE, revealed at EuroShop 2023 in Düsseldorf, Germany. The PX G1300 improves energy efficiency and reduces the carbon footprint of CO₂ refrigeration systems. It offers significant benefits, including a 25%-30% efficiency boost in the first European supermarket utilizing it. The device is part of a broader transition from traditional refrigeration to eco-friendly alternatives, responding to EU regulations aimed at reducing greenhouse gas emissions.

Energy Recovery, Inc. (NASDAQ:ERII) has appointed Fieuw Koeltechniek as its exclusive distributor for the PX G1300 energy recovery device in the Benelux region. The two-year agreement includes guaranteed sales volumes, marking a significant step in Energy Recovery's European expansion. Fieuw has already installed PX G1300s in a Carrefour supermarket in Belgium, demonstrating its capability in larger refrigeration systems. Rising energy prices in Belgium, with a reported 95% increase, drive demand for energy-efficient solutions. The European Union's commitment to phase down HFC refrigerants by 2030 further supports this transition.

Energy Recovery, Inc. (NASDAQ:ERII) reported strong financial results for Q4 2022, achieving record revenue of $42.3 million, up 26% year-over-year. The full-year revenue grew 21% to $125.6 million, driven by its core desalination and industrial wastewater sectors. Gross margin improved to 69.6%, and net income rose 69% to $24 million, with earnings per share increasing 75% to $0.42. Operating expenditure increased 9%, driven by VorTeq costs and litigation. The company anticipates continued growth, especially in the CO2 refrigeration market, through strategic investments and new products.

Energy Recovery, Inc. (NASDAQ:ERII) announced contracts exceeding $9 million to supply its PX Pressure Exchanger energy recovery devices to desalination facilities across China, India, South Korea, and Indonesia. The orders are expected to be fulfilled by the end of Q3 2023. These contracts highlight the ongoing investment in desalination driven by industrialization and urbanization in these regions. The PX devices are projected to prevent nearly 170,000 tons of carbon emissions annually, equivalent to removing over 36,000 cars from the road. This initiative supports the need for sustainable water solutions amid growing water scarcity.

Energy Recovery, Inc. (NASDAQ:ERII) announced it will release its financial results for the year and quarter ending December 31, 2022, on February 22, 2023, after market close. The company will host a live conference call to discuss these results at 2 p.m. PT / 5 p.m. ET on the same day. Investors can access the call via toll-free numbers in the US/Canada or internationally, with a replay available until March 22, 2023. Energy Recovery specializes in technologies that enhance efficiency and sustainability within commercial and industrial fluid-flow markets globally, with a strong focus on environmental sustainability.

Energy Recovery, Inc. (NASDAQ:ERII) reported its Q3 2022 financial results, highlighting significant growth. Revenue reached $30.5 million, a 47% increase from Q3 2021. The company anticipates a full-year revenue of $121-$125 million, projecting 16%-20% year-on-year growth. Net income was $4.8 million or $0.08 per share, marking a 347% increase from the prior year. Adjusted EBITDA stood at $7.7 million. Successful installations in its CO2 refrigeration segment and new product launches were also noted.