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

Energy Recovery

02/11/2023 02:40

* Energy Recovery Inc  ERII.OQ  reported quarterly adjusted
earnings of 17 cents​​ per share for the quarter ended in
September, higher than the same quarter last year, when the
company reported EPS of 9 cents.  The mean expectation of
four analysts for the quarter was for earnings of 5 cents per
share. Wall Street expected results to range from 3 cents to 9
cents per share.
    * Revenue rose 21.6% to $37.04 million from a year ago;
analysts
expected $31.29 million. 
    * Energy Recovery Inc's reported EPS for the quarter was 17
cents​.
    * The company reported quarterly net income of $9.66
million.
    * Energy Recovery Inc shares had fallen by 28.3% this
quarter and
lost 25.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 56.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

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 $30.50 
This summary was machine generated from LSEG data November 2 at
02:40 a.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 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
 Dec. 31 2022      0.15           0.24           Beat