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Energy Recovery Inc: 1 director
A director at Energy Recovery Inc sold 21,444 shares at 15.422USD and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cle...
Energy Recovery to Release Fourth Quarter and Full Year 2024 Financial...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- (NASDAQ: ERII or the Company) announced today it will release its financial results for the quarterly period and full year ending December 31, 2024. The Company will host a conference call to discuss the results and related matters on February 26, 2025, after market close. EARNINGS RELEASE Wednesday, February 26, 2025 (after market close) LIVE CONFERENCE CALL Wednesday, February 26, 2025, 2 p.m. PT / 5 p.m. ET Listen-only, US / Canada Toll-Free: +1 (877) 709-8150 Listen-only, Local / International: +1 (201) 689-8354 CONFERENCE CALL REPLAY Expiration...
Energy Recovery Wins “Breakthrough Innovation Award” at IDRA World Con...
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)-- At the 2024 IDRA World Congress show this week, Energy Recovery, Inc. (Nasdaq: ERII) was honored with The Breakthrough Innovation Award for Most Innovative Company in Desalination Technology. The award, announced at the IDRA World Congress Gala Dinner, “recognizes the pioneering efforts and transformative impact of a company, utility, or agency at the forefront of desalination technology.” Energy Recovery has been the trusted gold standard in energy recovery solutions for the seawater reverse osmosis desalination industry for over a decade, ...
Energy Recovery Announces Share Repurchase Program
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced that its Board of Directors approved a share repurchase program to purchase up to $50 million of the company's outstanding common stock over the next 12 months, beginning in November 2024. “With our strategic plan, or Playbook, complete we now have a clear picture of the capital required to fund our growth,” said Energy Recovery's President and CEO David Moon. “As such, we are happy to return a large portion of our cash to shareholders. We are in the fortunate position of being able to provide our sha...
Energy Recovery Reports its Third Quarter 2024 Financial Results
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq:ERII) (“Energy Recovery” or the “Company”) today announced its financial results for the third quarter and nine months ended September 30, 2024. Third Quarter Highlights Revenue of $38.6 million, reaching the upper end of our guidance of $35 - $39 million. Gross margin of 65.1%, a decrease of 480 bps, as compared to Q3’2023, due primarily to higher manufacturing costs and higher costs related to product mix. Operating expenses of $18.1 million, an increase of 7.8%, as compared to Q3’2023, due primarily to higher consul...
Energy Recovery Showcases Exceptional Performance of PX G1300 in Comme...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced new performance data for the PX G1300® pressure exchanger. The findings demonstrate its successful integration into several existing CO2 refrigeration systems to reduce energy consumption and increase cooling capacity and system stability. CO2 refrigeration is a leading replacement for harmful hydrofluorocarbon (HFC) systems because it is non-toxic, non-flammable, and has a low global warming potential thousands of times better than HFCs. While CO2 systems consume less energy than typical HFC systems1,...
Join Energy Recovery’s Live Investor Webinar and Q&A Session on Novemb...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- (NASDAQ: ERII) (Energy Recovery or the Company) will host an investor webinar to present its strategic vision with senior management on November 18th, 2024 from 10 a.m. to about noon Eastern Time. This special event will include presentations by CEO, David Moon, CFO Mike Mancini, Sr. VP of Water, Rodney Clemente, and VP of CO2, Ricardo Freitas. Management’s presentations will be followed by a live Q&A session for analysts and investors. A link to the investor webinar will be available in the section of the Company’s Investor Relations website at . A re...
Energy Recovery Awarded More Than $12 Million in Desalination Contract...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery (NASDAQ: ERII) today announced contract awards totaling over $12 million for its (PX) energy recovery devices for three seawater reverse osmosis (SWRO) desalination projects in the United Arab Emirates. The plants include capacity totaling close to 1 million cubic meters per day, and the orders are expected to ship by Q4 2024. These contracts have previously been reported in the company’s financial guidance. One of the recently awarded contracts will include PX installations on a floating desalination barge in the Arabian Gulf, which wil...
Energy Recovery to Release Third Quarter 2024 Financial Results and An...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- (NASDAQ: ERII or the Company) announced today it will release its financial results for the quarterly period ending September 30, 2024, and will host a conference call to discuss the results and related matters on October 30, 2024, after market close. In addition, the Company announced it will host an investor webinar to present its strategic vision with senior management on November 18th, 2024. EARNINGS RELEASE Wednesday, October 30, 2024 (after market close) LIVE CONFERENCE CALL Wednesday, October 30, 2024, 2 p.m. PT / 5 p.m. ET Listen-only, US / Cana...
Energy Recovery Signs $27.5 Million in Desalination Contracts in Moroc...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced the company has signed contracts to supply its PX® Pressure Exchanger® to seawater reverse osmosis (SWRO) desalination projects in Morocco, totaling $27.5 million. These contracts have previously been reported in the company’s financial guidance, and all orders are expected to be fulfilled in 2024. North Africa continues to present a strong demand for SWRO desalination. Morocco is facing a years long drought that drained the country’s reservoirs to 25% full earlier this year, and the country is curren...
Energy Recovery Reports Its Second Quarter 2024 Financial Results
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq:ERII) (“Energy Recovery” or the “Company”) today announced its financial results for the second quarter and six months ended June 30, 2024. Second Quarter Highlights Revenue of $27.2 million, exceeding the upper end of our guidance of $20 - $25 million. Gross margin of 64.6%, a decrease of 80 bps, as compared to Q2’2023, due primarily to higher manufacturing costs. Operating expenses of $19.6 million, an increase of 21.4%, as compared to Q2’2023, due primarily to the enhancement of our corporate growth strategy, in...
Energy Recovery Appoints Mike Mancini as Chief Financial Officer
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced the appointment of Michael (Mike) Mancini as Chief Financial Officer (CFO). He will join Energy Recovery on August 5, 2024. Mr. Mancini is an experienced CFO and business strategist with extensive operational and capital markets experience. “From Mike’s extensive experience with high-growth engineering and technology businesses to his expertise in capital allocation, he possesses all the qualities we have been seeking in a new CFO,” said David Moon, President and CEO of Energy Recovery. “Mike’s analyt...
Energy Recovery to Host Second Quarter 2024 Financial Results Conferen...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- (ERII or the Company) (NASDAQ:ERII) today announced it will release its financial results for the quarterly period ending June 30, 2024, and host a conference call to discuss the quarter’s results and related matters on July 31, 2024 after market close. EARNINGS RELEASE Wednesday, July 31, 2024 (after market close) LIVE CONFERENCE CALL Wednesday, July 31, 2024, 2 p.m. PT / 5 p.m. ET Listen-only, US / Canada Toll-Free: +1 (877) 709-8150 Listen-only, Local / International Toll: +1 (201) 689-8354 CONFERENCE CALL REPLAY Expiration: Friday, August 30, 2...
Energy Recovery Announces Appointments of CO2 Refrigeration Leader and...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced key hires in support of the company’s growth strategy with the appointment of Ricardo Freitas as Vice President and General Manager of the company’s CO2 refrigeration business and Matt Hostetler as Chief Human Resources Officer (CHRO). “Energy Recovery is entering a new phase, and optimizing our product, processes, and talent is critical to fueling our future growth plans,” said David Moon, Energy Recovery President and CEO. “Ricardo and Matt are proven global leaders with unique experience and skills...
Energy Recovery Announces $15 Million in SWRO Contracts in India
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced $15 million in contracts to supply its PX® Pressure Exchanger® energy recovery devices to seawater reverse osmosis (SWRO) desalination plants in India. All orders are expected to ship in 2024. All together, these plants will provide over 670,000 cubic meters of clean drinking water to communities in India each day. As one of the most water stressed countries in the world, India in order to supplement its freshwater supply. The country is home to 18% of the world’s population but has only 4% of the w...
Energy Recovery Reports its First Quarter 2024 Financial Results
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq:ERII) (“Energy Recovery” or the “Company”) today announced its financial results for the first quarter ended March 31, 2024. First Quarter Highlights Revenue of $12.1 million, which is in-line with our February 2024 guidance. Gross margin of 59.0%, a decrease of 190 bps, as compared to Q1’2023, due primarily to higher manufacturing costs and an increase in inventory scrap. Operating expenses of $18.1 million, an increase of 11%, as compared to Q1’2023, due primarily to increased investments within sales and marketi...
Energy Recovery to Release First Quarter 2024 Financial Results
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- (NASDAQ: ERII) today announced it will release its financial results for the quarterly period ending March 31, 2024, and will host a conference call to discuss the results and related matters on May 1, 2024 after market close. EARNINGS RELEASE Wednesday, May 1, 2024 (after market close) LIVE CONFERENCE CALL Wednesday, May 1, 2024, 2 p.m. PT / 5 p.m. ET Listen-only, US / Canada Toll-Free: +1 (877) 709-8150 Listen-only, Local / International Toll: +1 (201) 689-8354 CONFERENCE CALL REPLAY Expiration: Friday, May 31, 2024 US / Canada Toll-Free: +1 (877)...
Energy Recovery Announces CFO Transition
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII), a trusted global leader in energy efficiency technology, today announced Joshua Ballard has made the decision to step down from his position as Chief Financial Officer at the end of June 2024. A search to identify Energy Recovery’s next CFO is underway with the executive search firm Korn Ferry. “I want to thank Josh for his tremendous leadership and contributions to the success of Energy Recovery. He is leaving a stronger organization both operationally and financially than he found it. Josh has agreed to help us th...
Energy Recovery Reports Record Full Year and Fourth Quarter Revenue fo...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq:ERII) (“Energy Recovery” or the “Company”) today announced its financial results for the fourth quarter and year ended December 31, 2023. Fiscal Year 2023 Highlights Record annual revenue of $128.3 million, which includes a 79% growth in wastewater and represents nine consecutive years of revenue growth. Record quarterly revenue of $57.2 million, representing a 35% year-on-year growth with strong performance in Energy Recovery’s primary desalination business and the continued rapid expansion of the company’s wastewate...
Energy Recovery Announces $28 Million in Desalination Contracts for Fl...
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) today announced the award of contracts totaling over $28 million to supply its newest top-of-the-line PX® Pressure Exchanger® energy recovery device (ERD), the , to mega desalination projects in the Gulf region. These facilities will produce nearly 1.5 million cubic meters of water for municipal use in the Gulf, a significantly water-stressed region, and the awards demonstrate confidence in Energy Recovery’s latest innovation, the PX Q400. With the highest capacity and efficiency of any PX® Pressure Exchanger®, the Q...
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