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.
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Energy Recovery, Inc. (Nasdaq: ERII) reported a 7% increase in product revenue for Q2 2021, reaching $20.6 million, compared to $19.3 million in Q2 2020. The overall revenue dropped by 53% to $20.6 million due to the cessation of the VorTeq License Agreement. Net income fell 94% to $1.1 million or $0.02 per share. Despite challenges, the company is optimistic about its new Ultra PX technology projects in various sectors, expecting long-term value creation. Operating expenses were reduced, but cash balances remain high at $120.7 million.
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Energy Recovery (NASDAQ:ERII) has secured over $6 million in contracts for its PX® Pressure Exchanger® devices to support seawater reverse osmosis (SWRO) desalination facilities across Asia. These contracts, set for fulfillment by Q3 2021, come amid increasing water demand due to population growth and climate challenges. The PX technology reduces energy consumption by up to 60% and is projected to prevent over 126,000 metric tons of CO2 emissions annually while producing over 118 million cubic meters of fresh water yearly.
Energy Recovery, Inc. (NASDAQ:ERII) will release its financial results for Q2 2021 on August 5, 2021, after market close. A conference call will follow at 2:00 PM PDT to discuss these results, hosted by CEO Robert Mao and CFO Joshua Ballard. Investors can access the call via toll-free numbers or through the company's investor relations website. The replay will be available for a month following the event. Energy Recovery specializes in technologies that enhance efficiency and sustainability in industrial processes.
Energy Recovery (NASDAQ:ERII) secured contracts exceeding $13.8 million for its PX® Pressure Exchanger® and PX PowerTrain™ systems, aiding the Sorek B Seawater Reverse Osmosis Desalination Plant led by IDE Technologies. This facility will be the largest SWRO plant in Israel, anticipated to produce 200 million cubic meters of water annually. Expected shipment of the order is between Q3 and Q4 2021, with commissioning scheduled for Q3 2022 to Q1 2023.
Energy Recovery (NASDAQ:ERII) has scheduled its 2021 Annual Meeting of Stockholders for June 10, 2021, at 10:00 a.m. PDT. The meeting will be held virtually and will include an update on the development of the VorTeq technology. Stockholders can participate online at www.virtualshareholdermeeting.com/ERII2021 using their control number found in proxy materials. Stockholders are encouraged to vote in advance either online, by phone, or via mail before the meeting.
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Energy Recovery, Inc. (Nasdaq:ERII) announced financial results for Q1 2021, showcasing a record 52% growth in product revenue in its Water segment, totaling $28.9 million. The company achieved a net income of $6.9 million, a significant increase from $0.6 million in Q1 2020. Despite a 12% reduction in operating expenses, operating income soared by 4700% to $6.1 million. The company is expanding into CO2 commercial refrigeration and announced a collaboration with DuPont Water Solutions for industrial wastewater treatment. Cash and investments reached $120 million, marking a 29% increase year-over-year.
Energy Recovery, Inc. (NASDAQ:ERII) is scheduled to release its financial results for Q1 2021 on May 6, 2021, after market close. A live conference call will follow at 2:00 PM PDT / 5:00 PM EDT, hosted by CEO Robert Mao and CFO Joshua Ballard. Investors can join the call via toll-free numbers or stream it online. Energy Recovery specializes in technologies enhancing efficiency in industrial fluid-flow markets, with a strong focus on sustainability across various sectors.
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