Energy Recovery Reports its First 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 first quarter ended March 31, 2024.First Quarter HighlightsRevenue 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 marketing and Executive transition costs.Loss from operations of $10.9 million, mainly due to lower revenues and gross margin as previously guided.Net loss of $8.3 million and adjusted EBITDA(1) loss of $6.2 million.Cash and investments of $129.5 million, which include cash, cash equivalents, and short- and long-term investments.David Moon, President and CEO, commented on the financial results: “The first quarter w
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- Earnings Release: Here's Why Analysts Cut Their Energy Recovery, Inc. (NASDAQ:ERII) Price Target To US$21.00 [Yahoo! Finance]Yahoo! Finance
- Energy Recovery, Inc. (NASDAQ: ERII) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Energy Recovery, Inc. (NASDAQ:ERII) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
ERII
Earnings
- 5/1/24 - Beat
ERII
Analyst Actions
- 2/28/24 - Evercore ISI Group
ERII
Sec Filings
- 5/10/24 - Form 4
- 5/9/24 - Form 4
- 5/8/24 - Form 144
- ERII's page on the SEC website