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 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.
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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