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

Energy Recovery

01/05/2024 22:52

* Energy Recovery Inc  ERII.OQ  reported a quarterly
adjusted loss
of 14 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported EPS
of -11 cents.  The mean expectation of four analysts for the
quarter was for a loss of 13 cents per share. Wall Street
expected results to range from -15 cents to -11 cents per share.
    * Revenue fell 9.8% to $12.09 million from a year ago;
analysts
expected $13.50 million. 
    * Energy Recovery Inc's reported EPS for the quarter was a
loss
of 14 cents​.
    * The company reported a quarterly loss of $8.26 million.
    * Energy Recovery Inc shares had fallen by 5.6% this
quarter and
lost 20.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.8%
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 May 1 at 09:52
p.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
 Mar. 31 2024      -0.13          -0.14          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