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Jun 30, 2022
Energy Recovery Q2 2022 Earnings Report
Announced second quarter 2022 financial results and commissioning of the first PX G1300™ for CO2 refrigeration.
Key Takeaways
Energy Recovery reported revenue of $20.3 million. The company reaffirmed full year revenue guidance of $130 million, representing a 25% year-on-year growth.
Revenue of $20.3 million, as guided in the first quarter.
Loss from operations of $2.9 million and adjusted loss from operations of $41 thousand.
Adjusted EBITDA of $1.0 million.
Share repurchases of $18.6 million, or 1.0 million shares, pursuant to the Company’s March 2021 share buyback program.
Revenue by Geographic Location
Forward Guidance
The company expects significant increases in sales in the second half of fiscal 2022 to achieve their target revenue of $130 million for the year.
Positive Outlook
- Desalination and industrial wastewater businesses remain on track for the year.
- Seeing a long-awaited resurgence in OEM desalination sales.
- Expect significant increases in sales in the second half of fiscal 2022 to achieve target revenue of $130 million for the year.
- Successfully commissioned PX G1300 with partner in a new supermarket in southern Europe in late June and are very encouraged by its strong initial performance.
- Entered into a second joint-development agreement with a U.S. refrigeration rack manufacturer in early July and are continuing discussions with several others.
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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