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Jun 30, 2021
Energy Recovery Q2 2021 Earnings Report
Achieved seven percent growth in product revenue, driven by desalination business and progress in diversification efforts.
Key Takeaways
Energy Recovery reported a solid financial quarter with a 7% increase in product revenue compared to Q2 2020. The desalination business thrived, and the company made progress in diversifying its pressure exchanger technology. Net income was $1.1 million, or $0.02 per diluted share.
Product revenue increased by 7% compared to the second quarter of 2020.
The desalination business continues to thrive, driven by returning demand.
Progress was made in diversifying pressure exchanger technology with new projects in chemical manufacturing, landfill leachate, and lithium-ion battery manufacturing.
The company is seeking its first commercial deployment of the PX G1300 energy recovery device for CO2 refrigeration.
Revenue by Segment
Forward Guidance
The company is embarking on a path of sustainable, disciplined and diversified growth. The company is working towards a more diversified revenue stream for the future and making significant progress in emerging technology projects.
Positive Outlook
- The company believes it is embarking on a path of sustainable, disciplined and diversified growth
- The company believes it can develop pressure exchanged-based solutions for new industries
- The company believes its carbon dioxide commercial refrigeration solution excels in warmer climates as compared to the market-leading technology
- The company believes that its future is bright
- The company believes it can work towards a more diversified revenue stream for the future
Challenges Ahead
- Potential risks and uncertainties include any other factors that may have been discussed herein regarding the risks and uncertainties of the Company’s business
- The risks discussed under “Risk Factors” in the Company’s Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) for the year ended December 31, 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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