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Sep 30, 2022
Energy Recovery Q3 2022 Earnings Report
Announced financial results with a 47% quarterly product revenue growth.
Key Takeaways
Energy Recovery reported a strong third quarter with a 47% increase in revenue compared to the previous year. The company's net income also saw a significant rise, and they are making strides in their CO2 refrigeration and industrial wastewater businesses.
Revenue of $30.5 million.
Income from operations of $4.9 million.
Net income of $4.8 million, or $0.08 per share.
Cash and investments of $86.6 million.
Revenue by Geographic Location
Forward Guidance
Energy Recovery anticipates full year revenue between $121 million and $125 million, with year-on-year growth of 16%–20%, while maintaining gross margin expectations.
Positive Outlook
- Full year revenue guidance of $121–$125 million, or 16%–20% year-on-year growth
- Successfully installed and commissioned PX G1300™
- PX Q400 is the highest performing PX available for SWRO and industrial wastewater facilities
- Believe we have the right products and strategy to deliver on our goals
- Sales in our industrial wastewater business continue to grow
Challenges Ahead
- Challenging macro-economic environment
- Potential risks and uncertainties regarding the Company’s business
- Risks discussed under “Risk Factors” in the Company’s Form 10-K
- Uncertainties that may cause actual results to differ from predictions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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