Press Releases
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 ...... read more
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, ...... read more
Energy Recovery Showcases Exceptional Performance of PX G1300 in Commercial CO2 Refrigeration Installations
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 ...... read more
Join Energy Recovery’s Live Investor Webinar and Q&A Session on November 18, 2024
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (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, ...... read more
Energy Recovery Awarded More Than $12 Million in Desalination Contracts in the United Arab Emirates
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery (NASDAQ: ERII) today announced contract awards totaling over $12 million for its PX® Pressure Exchanger® (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 ...... read more
Energy Recovery to Release Third Quarter 2024 Financial Results and Announces an Investor Webinar
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc.(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 ...... read more
Energy Recovery Signs $27.5 Million in Desalination Contracts in Morocco
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. ...... read more
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 ...... read more
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 ...... read more
Energy Recovery to Host Second Quarter 2024 Financial Results Conference Call on July 31, 2024
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (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 ...... read more