Energy Recovery Reports its Third Quarter 2024 Financial Results
Energy Recovery, Inc. (ERII)
Last energy recovery, inc. earnings: 4/30 04:02 pm
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US:NASDAQ Investor Relations:
ir.energyrecovery.com
Company Research
Source: Business Wire
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 HighlightsRevenue 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 consulting costs related to enhancement of our corporate growth strategy and higher employee costs.Income from operations of $7.1 million, a decrease of 22.7%, as compared to Q3’2023, mainly due to higher operating expenses and lower gross margin.Net income of $8.5 million and adjusted EBITDA(1) of $11.6 million.Cash and investments of $139.9 million, which include cash, cash equivalents, and short- and long-t
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News
- Energy Recovery, Inc. (NASDAQ: ERII) had its price target lowered by analysts at Evercore ISI from $23.00 to $20.00. They now have an "outperform" rating on the stock.MarketBeat
- Energy Recovery, Inc. (NASDAQ: ERII) had its price target lowered by analysts at B. Riley from $22.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
- Energy Recovery Announces Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- Energy Recovery Announces Share Repurchase ProgramBusiness Wire
- Energy Recovery, Inc.'s (NASDAQ:ERII) recent 5.9% pullback adds to one-year year losses, institutional owners may take drastic measures [Yahoo! Finance]Yahoo! Finance
ERII
Earnings
- 10/30/24 - Beat
ERII
Analyst Actions
- 11/19/24 - Evercore ISI Group
ERII
Sec Filings
- 11/20/24 - Form 8-K
- 11/14/24 - Form SC
- 11/14/24 - Form SC
- ERII's page on the SEC website