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Mar 31, 2021
Energy Recovery Q1 2021 Earnings Report
Reported record-high quarterly product revenue in its core Water segment with 52% growth compared to the first quarter of 2020.
Key Takeaways
Energy Recovery reported a strong first quarter with record-high product revenue in its core Water segment, driven by megaproject and aftermarket channels. The company is also making progress in emerging technology projects and maintaining cost discipline, resulting in improved profitability.
Product revenue increased by 52% compared to Q1 2020.
Megaproject and aftermarket channels contributed to strong sales growth in the Water segment.
Operating expenses were reduced through disciplined spending in G&A and R&D.
Net income increased significantly to $6.9 million, or $0.12 per diluted share.
Forward Guidance
Energy Recovery is embarking on a path of sustainable, disciplined and diversified growth. The company believes its carbon dioxide commercial refrigeration solution excels in warmer climates and is making significant progress in emerging technology projects, which will lead to a more diversified revenue stream in the future.
Positive Outlook
- The company is embarking on a path of sustainable, disciplined and diversified growth.
- The company is able to develop pressure exchanged-based solutions for new industries
- The company's carbon dioxide commercial refrigeration solution excels in warmer climates as compared to the market-leading technology
- The company's future is bright
- The company is making significant progress in our emerging technology projects.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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