Energy Recovery Inc reports results for the quarter ended in December - Earnings Summary

Energy Recovery

23/02/2024 03:02

* Energy Recovery Inc  ERII.OQ  reported quarterly adjusted
earnings of 34 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 24 cents.  The mean expectation of
four analysts for the quarter was for earnings of 38 cents per
share. Wall Street expected results to range from 34 cents to 40
cents per share.
    * Revenue rose 35.2% to $57.19 million from a year ago;
analysts
expected $63.57 million. 
    * Energy Recovery Inc's reported EPS for the quarter was 34
cents​.
    * The company reported quarterly net income of $19.81
million.
    * Energy Recovery Inc shares had fallen by 17.1% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Energy Recovery
Inc is $21.50 
This summary was machine generated from LSEG data February 23 at
03:02 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.38           0.34           Missed
 Sep. 30 2023      0.05           0.17           Beat
 Jun. 30 2023      -0.01          -0.03          Missed
 Mar. 31 2023      -0.13          -0.11          Beat