Energy Recovery Reports Record Full Year and Fourth Quarter Revenue for 2023
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 fourth quarter and year ended December 31, 2023.Fiscal Year 2023 HighlightsRecord 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 wastewater sector. Water revenue was below guidance due to the delayed shipment of a single project to be shipped in 2024. This project was highlighted as a potential risk in the Q3 earnings call.Gross margin of 67.8%, within Energy Recovery’s expectations and above guidance.Operating expenses of $68.0 million, in line with Energy Recovery’s expectations.Income from operations of $19.1 million.Net income of $21.5
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News
- 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
- Energy Recovery (ERII) Reports Q1 Loss, Lags Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Energy Recovery Reports its First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
ERII
Earnings
- 5/1/24 - Beat
ERII
Analyst Actions
- 2/28/24 - Evercore ISI Group
ERII
Sec Filings
- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/22/24 - Form DEF
- ERII's page on the SEC website