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.
Summary not available.
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.
Energy Recovery (NASDAQ:ERII) reported its Q2 2022 financial results, revealing revenues of $20.3 million, which aligns with prior guidance but marks a 2% decline year-over-year. The company reaffirmed its full-year revenue guidance of $130 million, projecting 25% growth. A net loss per share of $0.04 was noted, alongside adjusted EBITDA of $1.0 million. Cash reserves totaled $86.5 million. Notably, Energy Recovery has achieved a significant milestone in its CO2 business and has advanced OEM desalination sales, expecting notable sales growth in the latter half of 2022.
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.