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

Energy Recovery

01/08/2024 07:33

* Energy Recovery Inc  ERII.OQ  reported a quarterly
adjusted loss
of 1 cent​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of -3
cents.  The mean expectation of four analysts for the quarter
was for a loss of 11 cents per share. Wall Street expected
results to range from -15 cents to -9 cents per share.
    * Revenue rose 31.3% to $27.20 million from a year ago;
analysts
expected $22.88 million. 
    * Energy Recovery Inc's reported EPS for the quarter was a
loss of
1 cent​.
    * The company reported a quarterly loss of $642 thousand.
    * Energy Recovery Inc shares had risen by 9.7% this
quarter and
lost 22.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 55.2%
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
"strong buy"
and the breakdown of recommendations is 4 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is  "buy."

Wall Street's median 12-month price target for Energy Recovery
Inc is $21.50 
This summary was machine generated from LSEG data August 1 at
06:33 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
 Jun. 30 2024      -0.11          -0.01          Beat
 Mar. 31 2024      -0.13          -0.14          Missed
 Dec. 31 2023      0.38           0.34           Missed
 Sep. 30 2023      0.05           0.17           Beat