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) is set to release its financial results for the quarter ending June 30, 2022, on August 3, 2022, after market close. A live conference call will follow to discuss the results, scheduled for 2 p.m. PT / 5 p.m. ET. Investors can join via toll-free US/Canada number or listen online. The call will also be available for replay until September 3, 2022. Energy Recovery focuses on sustainable technologies for industrial fluid-flow markets, enhancing efficiency across various sectors.
Energy Recovery, Inc. (NASDAQ:ERII) announced three contract awards exceeding $8.2 million for supplying its PX® Pressure Exchanger® devices to seawater reverse osmosis desalination facilities in Asia. The contracts aim to prevent 180,000 metric tons of CO2 emissions annually and support over 4 million cubic meters of water production per day. With increasing water scarcity in China and India, the PX technology is recognized for its ability to reduce energy consumption by up to 60% and minimize operational costs.
Energy Recovery (NASDAQ:ERII) reported a strong first quarter for 2022, achieving $32.5 million in revenue, a 12% increase year-over-year. Income from operations rose by 34% to $8.2 million, while adjusted income increased by 25% to $10.1 million. Net income per share reached $0.14, a 17% YoY growth. The company also confirmed full-year revenue guidance of up to $130 million. Cash and investments totaled $96.6 million, and the MSCI ESG rating improved to AA. Share repurchases amounted to $8.1 million.
Energy Recovery, Inc. (NASDAQ:ERII) will announce its financial results for Q1 2022 on May 4, 2022, after market close. A conference call to discuss these results will be held on the same day at 2:00 PM PT / 5:00 PM ET. Investors can join the call via toll-free numbers or listen online. The conference replay will be available for one month. Energy Recovery specializes in innovative technologies for industrial fluid-flow markets, enhancing sustainability across various industries, with a focus on efficiency in processes like water desalination.
Energy Recovery, Inc. (NASDAQ:ERII) announced contract awards exceeding $20 million for PX® Pressure Exchanger® devices in the Gulf region.
These contracts aim to address the area's severe water scarcity by allowing desalination plants to produce over one million cubic meters of water daily, sufficient to fill over 400 Olympic swimming pools.
Additionally, the technology is projected to prevent over 424,000 metric tons of CO2 emissions annually, significantly reducing energy consumption in water treatment.
Energy Recovery, Inc. (Nasdaq:ERII) reported a successful fiscal year 2021, with product revenue growth of 13%, reaching $103.9 million. The fourth quarter revenue was $33.6 million, up 27% year-over-year. Despite challenges, the company announced multiple contracts for its Ultra PX technology in wastewater treatment and refrigeration sectors. However, net income fell 46% to $14.3 million for the year. Operating expenses increased 19% in Q4, reflecting higher R&D costs. The company entered a new $50 million credit agreement to support growth.
Energy Recovery, Inc. (NASDAQ:ERII) has secured two contracts worth $885,000 for supplying its PX® Pressure Exchanger® energy recovery devices for wastewater treatment in Tibet, China and Rajasthan, India. The projects will enhance energy efficiency in industrial processes, particularly in lithium carbonate manufacturing and textile wastewater treatment. As demand increases for sustainable solutions, Energy Recovery’s technology aligns with global efforts to reduce untreated wastewater and emissions, crucial for meeting UN Sustainable Development Goals.
Energy Recovery (NASDAQ:ERII) will release its financial results for the year and quarter ending December 31, 2021, on February 24, 2022, after market close. A conference call to discuss these results will occur on the same day at 2:00 PM PT / 5:00 PM ET. Investors can access the live call through a toll-free number or via the internet. The conference call replay will be available until March 24, 2022. Energy Recovery focuses on creating sustainable solutions for industrial fluid-flow markets, enhancing efficiency and environmental sustainability.
Energy Recovery (NASDAQ:ERII) announced contract awards worth nearly $25 million for PX Pressure Exchanger energy recovery devices in Saudi Arabia. The projects will enhance desalination capacity to 1 million cubic meters per day, with completion expected by Q1 2022. This initiative aims to replace outdated thermal technologies with seawater reverse osmosis, reducing water production costs to $0.32 per cubic meter, among the lowest in the region. The transition is projected to save $2.34 billion annually in energy costs.
Energy Recovery (NASDAQ:ERII) announced the appointment of Joan Chow to its Board of Directors, effective immediately. Chow brings extensive marketing expertise and leadership experience from her roles at major companies like Conagra Brands and others. Her background will enhance the board's perspectives as Energy Recovery seeks to expand its PX technology applications. Chow expressed enthusiasm about the company's potential for sustainability and innovation in diverse industries.
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