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 (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.
Energy Recovery has launched the PX Q400 Pressure Exchanger, the latest iteration of its industry-leading PX Pressure Exchanger technology. This new flagship product aims to enhance seawater reverse osmosis (SWRO) desalination efficiency. The PX Q400 boasts the highest capacity at 400 gallons per minute, reducing the number of devices needed by 25% compared to the PX Q300. With less than 3% volumetric mixing and the lowest projected lifecycle cost, the PX Q400 promises significant operational efficiencies for desalination and industrial wastewater facilities.
Energy Recovery, Inc. (NASDAQ:ERII) will announce its financial results for Q3 2022 on November 2, after market close. A live conference call will follow at 2 p.m. PT / 5 p.m. ET, where management will discuss the results. Investors can access the call via phone or through the company's website. The replay will be available shortly after the event and will expire on December 2. Energy Recovery focuses on innovative technologies that enhance efficiency in fluid-flow markets, promoting sustainability across various industries.
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Energy Recovery (NASDAQ:ERII) has secured over $12.6 million in contracts to supply its PX Pressure Exchanger devices to seawater reverse osmosis facilities in North Africa. These contracts are expected to enhance the region's water supply and significantly reduce carbon emissions by an estimated 130,000 metric tons annually. The PX technology, known for its peak efficiency of 98%, can lower energy consumption in desalination processes by up to 60%. This investment illustrates a commitment to sustainable water solutions in a region facing severe water challenges.
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