Announcement • Jul 17
Energy Recovery, Inc. to Report Q2, 2026 Results on Aug 05, 2026 Energy Recovery, Inc. announced that they will report Q2, 2026 results at 4:00 PM, US Eastern Standard Time on Aug 05, 2026 Announcement • Jul 13
Energy Recovery Announces Appointment of John Mitchell to Board of Directors, Effective July 13, 2026 Energy Recovery announced the appointment of John Mitchell to its Board of Directors, effective July 13, 2026. John Mitchell brought more than three decades of global leadership across finance, operations, and technology-intensive industrial businesses. He most recently served as Senior Vice President and General Manager of the Sensor Solutions business at TE Connectivity, a global leader in innovative sensor solutions, serving industries including automotive, industrial automation, aerospace, and medical devices. Earlier at TE Connectivity, he served as President of TE SubCom, an industry pioneer in undersea communications technology and marine services. John Mitchell also held a series of senior financial leadership roles at TE Connectivity, including Vice President of Finance for its Transportation Solutions division, a global business spanning the automotive and industrial transportation markets. His earlier career included financial leadership positions across Europe and the United States with JohnsonDiversey, Tyco Electronics Power Systems, and Tyco Electronics, giving him broad international operating experience across multiple industries undergoing technological and market change. John Mitchell held an M.B.A. in Finance and General Management from University College Dublin and a Bachelor of Business Studies in Finance from the University of Limerick. Buy Or Sell Opportunity • May 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 46% to €7.22. The fair value is estimated to be €9.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to decline by 6.1% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Announcement • Apr 22
Energy Recovery, Inc., Annual General Meeting, Jun 04, 2026 Energy Recovery, Inc., Annual General Meeting, Jun 04, 2026. Announcement • Apr 17
Energy Recovery, Inc. to Report Q1, 2026 Results on May 06, 2026 Energy Recovery, Inc. announced that they will report Q1, 2026 results After-Market on May 06, 2026 Announcement • Mar 10
Energy Recovery Unveils Next Generation Pressure Exchanger for Desalination Plants Energy Recovery announced the launch of the PX Q650 Pressure Exchanger, a next-generation energy recovery device (ERD) designed to meet the scale, efficiency, and reliability requirements of the desalination industry. The Q650 represents the next evolution of Energy Recovery’s PX Pressure Exchanger, delivering higher flow capacity and efficiency with lower mixing, all while maintaining the durability and reliability customers know and trust. Like all PXs, the Q650 is based on Energy Recovery’s proven isobaric design, featuring only one moving part made from highly durable alumina ceramic. This simple design has a 30-year design life, requires no scheduled maintenance, delivers an exceptionally low lifecycle cost, and can reduce a plant’s reverse osmosis energy use by up to 60%. Published performance data show that PX Pressure Exchangers deliver the uptime of any ERD in large-scale desalination plants. PX Q650 Benefits: Highest Capacity on the Market: Flow range from 250 to 650 gallons per minute (gpm), representing a 63% increase in peak flow capacity versus the PX Q400 and enabling fewer devices per train and a smaller ERD array footprint. Ultra-High Efficiency and Ultra-Low Mixing: Peak efficiency of up to 99% and volumetric mixing as low as 2%, resulting in the lowest specific energy consumption on the market. Wide Operating Flexibility: The turndown ratio available. Alongside the launch of the PX Q650, Energy Recovery is enhancing its product assurance program by doubling ceramic component and performance warranties for high-pressure desalination pressure exchangers sold and shipped on or after March 9, 2026. Enabled by the PX’s simple design and long operating life, these enhancements provide additional assurance for desalination plants using high pressure PXs. Under the expanded program: Ceramic components are now backed by a 10-year warranty. PX device performance is now backed by a 4-year warranty (from shipment). PX Q650 product specifications are available in Power Model Pro, Energy Recovery’s configuration tool to help designers plan and select products for their reverse osmosis systems. Announcement • Feb 04
Energy Recovery, Inc. to Report Fiscal Year 2025 Results on Feb 25, 2026 Energy Recovery, Inc. announced that they will report fiscal year 2025 results After-Market on Feb 25, 2026 Announcement • Oct 09
Energy Recovery, Inc. to Report Q3, 2025 Results on Nov 05, 2025 Energy Recovery, Inc. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Announcement • Aug 07
Energy Recovery, Inc. (NasdaqGS:ERII) announces an Equity Buyback for $25 million worth of its shares. Energy Recovery, Inc. (NasdaqGS:ERII) announces a share repurchase program. Under the program, the company will repurchase up to $25 million worth of its outstanding common stock. The repurchases will be funded from cash on hand. The repurchase program is valid for next 9 months. Announcement • Jul 16
Energy Recovery, Inc. to Report Q2, 2025 Results on Aug 06, 2025 Energy Recovery, Inc. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Announcement • May 08
Energy Recovery, Inc. Reports Impairment of Long Lived Assets for the First Quarter of 2025 Energy Recovery, Inc. reported impairment for the first quarter ended 2025. For the quarter the company reported impairment on long lived assets of $4.4 million. Announcement • Apr 24
Energy Recovery, Inc. to Report Q1, 2025 Results on May 07, 2025 Energy Recovery, Inc. announced that they will report Q1, 2025 results After-Market on May 07, 2025 Announcement • Apr 22
Energy Recovery, Inc., Annual General Meeting, Jun 05, 2025 Energy Recovery, Inc., Annual General Meeting, Jun 05, 2025. Announcement • Jan 29
Energy Recovery, Inc. to Report Q4, 2024 Results on Feb 26, 2025 Energy Recovery, Inc. announced that they will report Q4, 2024 results After-Market on Feb 26, 2025 Announcement • Nov 20
Energy Recovery, Inc. (NasdaqGS:ERII) announces an Equity Buyback for $50 million worth of its shares. Energy Recovery, Inc. (NasdaqGS:ERII) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its outstanding common stock. The repurchase program is valid for next 12 months. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.15 (vs US$0.17 in 3Q 2023) Third quarter 2024 results: EPS: US$0.15 (down from US$0.17 in 3Q 2023). Revenue: US$38.6m (up 4.2% from 3Q 2023). Net income: US$8.48m (down 12% from 3Q 2023). Profit margin: 22% (down from 26% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Nov 01
Chief Technology Officer recently sold €175k worth of stock On the 28th of October, Farshad Ghasripoor sold around 11k shares on-market at roughly €16.60 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.7m more than they bought in the last 12 months. Announcement • Oct 29
Energy Recovery Showcases Exceptional Performance of Px G1300 in Commercial Co2 Refrigeration Installations Energy Recovery, Inc. announced new performance data for the PX G1300®? pressure exchanger. The findings demonstrate its successful integration into several existing CO2 refrigeration systems to reduce energy consumption and increase cooling capacity and system stability. CO2 refrigeration is a leading replacement for harmful hydrofluorocarbon (HFC) systems because it is non-toxic, non-flammable, and has a low global warming potential thousands of times better than HFCs. While CO2 systems consume less energy than typical HFC systems1, their efficiency declines in hot weather, leading to higher electricity costs in the summer. Many current solutions leverage water to keep up system efficiency in the heat, which creates challenges of water cost, availability, and maintenance. Additionally, refrigeration systems operate within a fixed capacity (design temperature), causing strain during heat waves and potentially leading to system failure. Results from this release show that the PX G1300 can aid in solving all three problems by increasing energy efficiency and cooling capacity without water. Findings showed the PX G1300 improved the leading metric of energy efficiency (coefficient of performance) by peaks of up to 30% with as much as 15% in projected annual energy savings. In addition to energy efficiency, findings estimate the PX G1300 increases cooling capacity for CO2 refrigeration systems by up to 15% at 95degF (35degC)2, providing operational flexibility to safeguard against heatwaves. The PX G1300 is an innovative application of company leading PX®? Pressure Exchanger®? for desalination that offers a simple and cost-effective energy saving solution for CO2 refrigeration, easing the transition to sustainable refrigeration. Announcement • Oct 07
Energy Recovery, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Energy Recovery, Inc. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024 New Risk • Sep 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Significant insider selling over the past 3 months (€373k sold). Reported Earnings • Aug 01
Second quarter 2024 earnings released: US$0.011 loss per share (vs US$0.03 loss in 2Q 2023) Second quarter 2024 results: US$0.011 loss per share (improved from US$0.03 loss in 2Q 2023). Revenue: US$27.2m (up 31% from 2Q 2023). Net loss: US$642.0k (loss narrowed 61% from 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 18
Now 21% undervalued Over the last 90 days, the stock has risen 8.2% to €13.65. The fair value is estimated to be €17.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has declined by 6.9%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 81% in the next 2 years. Recent Insider Transactions • Jun 13
Independent Director recently sold €244k worth of stock On the 7th of June, Arve Hanstveit sold around 20k shares on-market at roughly €12.21 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €441k. Insiders have been net sellers, collectively disposing of €4.7m more than they bought in the last 12 months. Announcement • May 31
Energy Recovery, Inc. Announces Appointment of Matt Hostetler as Chief Human Resources Officer Energy Recovery, Inc. announced the appointment of Matt Hostetler as Chief Human Resources Officer. Mr. Hostetler, the company’s first CHRO, brings more than 20 years’ experience implementing talent strategies that drive business performance, including organizational design, leadership optimization, and retention-focused workforce culture programs. Mr. Hostetler will join Energy Recovery on June 19 and will strengthen the company’s position as a leading employer, recruiting and developing talent in support of the company’s growth across all lines of business. He previously served in a variety of executive HR roles, including Chief People Officer of Sientra, Vice President of Human Resources for Kite (an independent company within Gilead Sciences), and leadership positions with Amgen and Honeywell. He holds a bachelor’s degree in Business Administration and a master’s degree in Labor and Human Resources from Ohio State University. Buy Or Sell Opportunity • May 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €12.18. The fair value is estimated to be €15.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has declined by 6.9%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 81% in the next 2 years. Recent Insider Transactions • May 12
President recently bought €131k worth of stock On the 7th of May, David Moon bought around 11k shares on-market at roughly €12.48 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €154k. David has been a buyer over the last 12 months, purchasing a net total of €428k worth in shares. Buy Or Sell Opportunity • May 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.8% to €12.36. The fair value is estimated to be €15.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has declined by 6.9%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 81% in the next 2 years. Reported Earnings • May 02
First quarter 2024 earnings released: US$0.14 loss per share (vs US$0.11 loss in 1Q 2023) First quarter 2024 results: US$0.14 loss per share (further deteriorated from US$0.11 loss in 1Q 2023). Revenue: US$12.1m (down 9.8% from 1Q 2023). Net loss: US$8.26m (loss widened 31% from 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 6% per year. Announcement • Apr 23
Energy Recovery, Inc., Annual General Meeting, Jun 06, 2024 Energy Recovery, Inc., Annual General Meeting, Jun 06, 2024, at 10:00 Pacific Standard Time. Agenda: To consider Election of six (6) Directors for a One-Year Term; to consider a proposal to consider and approve, on a non-binding, advisory basis, executive compensation as disclosed in the Proxy Statement; and to consider Ratification of independent registered public accounting for firm. Announcement • Apr 04
Energy Recovery, Inc. to Report Q1, 2024 Results on May 01, 2024 Energy Recovery, Inc. announced that they will report Q1, 2024 results After-Market on May 01, 2024 New Risk • Mar 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Significant insider selling over the past 3 months (€1.2m sold). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €14.80, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 12x in the Machinery industry in Germany. Total returns to shareholders of 5.7% over the past three years. Recent Insider Transactions • Mar 03
President recently bought €154k worth of stock On the 27th of February, David Moon bought around 11k shares on-market at roughly €14.29 per share. This transaction increased David's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. David has been a buyer over the last 12 months, purchasing a net total of €297k worth in shares. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: US$0.38 (vs US$0.43 in FY 2022) Full year 2023 results: EPS: US$0.38 (down from US$0.43 in FY 2022). Revenue: US$128.3m (up 2.2% from FY 2022). Net income: US$21.5m (down 11% from FY 2022). Profit margin: 17% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Feb 22
Joshua Ballard to Step Down as Chief Financial Officer of Energy Recovery Energy Recovery, Inc. announced Joshua Ballard has made the decision to step down from his position as Chief Financial Officer at the end of June 2024. A search to identify Energy Recovery’s next CFO is underway with the executive search firm Korn Ferry. Mr. Ballard joined Energy Recovery in 2018 and has helped steer the company to multiple years of consecutive revenue and profit growth, as well as a strong cash position, important assets as Energy Recovery continues to diversify beyond its core desalination business. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: US$0.38 (vs US$0.43 in FY 2022) Full year 2023 results: EPS: US$0.38 (down from US$0.43 in FY 2022). Revenue: US$128.3m (up 2.2% from FY 2022). Net income: US$21.5m (down 11% from FY 2022). Profit margin: 17% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Feb 13
Now 24% overvalued Over the last 90 days, the stock has fallen 19% to €14.50. The fair value is estimated to be €11.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 115% in the next 2 years. Announcement • Jan 25
Energy Recovery, Inc. to Report Q4, 2023 Results on Feb 21, 2024 Energy Recovery, Inc. announced that they will report Q4, 2023 results After-Market on Feb 21, 2024 Recent Insider Transactions • Nov 11
Director recently sold €2.0m worth of stock On the 7th of November, Yu-Lang Mao sold around 121k shares on-market at roughly €16.86 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.8m more than they bought in the last 12 months. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.17 (vs US$0.086 in 3Q 2022) Third quarter 2023 results: EPS: US$0.17 (up from US$0.086 in 3Q 2022). Revenue: US$37.0m (up 22% from 3Q 2022). Net income: US$9.66m (up 102% from 3Q 2022). Profit margin: 26% (up from 16% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €14.02, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 10x in the Machinery industry in Germany. Total returns to shareholders of 69% over the past three years. Announcement • Oct 05
Energy Recovery, Inc. to Report Q3, 2023 Results on Nov 01, 2023 Energy Recovery, Inc. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023 Recent Insider Transactions • Aug 31
Insider recently sold €1.0m worth of stock On the 28th of August, William Yeung sold around 41k shares on-market at roughly €25.69 per share. This transaction amounted to 73% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.9m more than they bought in the last 12 months. New Risk • Aug 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Significant insider selling over the past 3 months (€425k sold). Reported Earnings • Aug 03
Second quarter 2023 earnings released: US$0.03 loss per share (vs US$0.042 loss in 2Q 2022) Second quarter 2023 results: US$0.03 loss per share (improved from US$0.042 loss in 2Q 2022). Revenue: US$20.7m (up 2.1% from 2Q 2022). Net loss: US$1.67m (loss narrowed 29% from 2Q 2022). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 62% per year, which means it is well ahead of earnings. Announcement • Jul 12
Energy Recovery, Inc. to Report Q2, 2023 Results on Aug 02, 2023 Energy Recovery, Inc. announced that they will report Q2, 2023 results on Aug 02, 2023 Announcement • Jul 11
Energy Recovery, Inc. Announces Appointment of Board of Directors Energy Recovery, Inc. announced the appointment of refrigeration executive David Moon and water solutions leader Colin Sabol to its Board of Directors. Mr. Moon has led and advised commercial heating and cooling companies around the world. Most recently, he served as President of Carrier Commercial Refrigeration, a division of Carrier Global Corporation and leading supplier of high-efficiency CO2 refrigeration systems in Europe and Asia. In this role, Mr. Moon improved Carrier’s technological capabilities and built relationships with top food, pharmaceutical, and logistics customers. Prior to Carrier, Mr. Moon was an independent advisor at Ares Management, focusing on acquisitions in the HVACR and building products markets. Before his time at Ares, he served for nearly 20 years in multiple executive roles at Heatcraft Worldwide Refrigeration, a division of Lennox International Inc., and began his career at Tenneco, Inc. and AlliedSignal Inc. Mr. Moon previously served as a Board Member for CoolSys, the parent of market-leading refrigeration and HVAC services companies, and for American Woodmark Corporation, one of the nation's largest cabinet manufacturers. Mr. Moon holds an M.B.A. and a B.S. in Civil Engineering from Texas A&M University. Mr. Sabol is an accomplished business leader, strategist, and dealmaker with over 20 years of experience in the global water and energy markets. He was President of Measurement & Control Solutions at water technology provider Xylem Inc. from 2017-2022. He previously led Xylem businesses including Analytical Instrumentation, Water Treatment, and Dewatering Pump Rentals, building and maintaining a $2 billion backlog by launching five new product platforms and leveraging the company’s position in utility-grade communications. Before Xylem, Mr. Sabol enjoyed a 17-year tenure with General Electric, serving as Chief Marketing Officer for GE Water from 2002-2006. His board experience includes nearly a decade with Faradyne Motors, a joint venture between Xylem and Pentair, and as Board Chair of Xylem Watermark, Xylem’s corporate social responsibility program focused on addressing natural disasters, clean water access, and community resilience. Mr. Sabol holds a B.S. in Materials Engineering from Alfred University and completed MBA Studies in business and finance at Ohio State University and Union College. Recent Insider Transactions • Jun 26
Independent Director recently sold €378k worth of stock On the 20th of June, Arve Hanstveit sold around 15k shares on-market at roughly €25.21 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €886k more than they bought in the last 12 months. Announcement • Jun 25
Energy Recovery, Inc.(NasdaqGS:ERII) dropped from Russell 2000 Dynamic Index Energy Recovery, Inc.(NasdaqGS:ERII) dropped from Russell 2000 Dynamic Index Reported Earnings • May 05
First quarter 2023 earnings released: US$0.11 loss per share (vs US$0.14 profit in 1Q 2022) First quarter 2023 results: US$0.11 loss per share (down from US$0.14 profit in 1Q 2022). Revenue: US$13.4m (down 59% from 1Q 2022). Net loss: US$6.30m (down 180% from profit in 1Q 2022). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: US$0.43 (vs US$0.25 in FY 2021) Full year 2022 results: EPS: US$0.43 (up from US$0.25 in FY 2021). Revenue: US$125.6m (up 21% from FY 2021). Net income: US$24.0m (up 69% from FY 2021). Profit margin: 19% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 05
Chief Technology Officer recently sold €87k worth of stock On the 2nd of February, Farshad Ghasripoor sold around 4k shares on-market at roughly €20.50 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €393k more than they bought in the last 12 months. Announcement • Jan 24
Energy Recovery, Inc. to Report Q4, 2022 Results on Feb 22, 2023 Energy Recovery, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 22, 2023 Announcement • Dec 16
ERI Takes Operational Efficiency to New Heights with Proprietary SOAR System ERI has launched its new internal system designed to harness proprietary A.I. and machine learning technology innovations to further enhance operational efficiency. The new system, called SOAR, is now fully operational. SOAR utilizes ERI’s proprietary Optical Character Recognition (OCR) technology to highlight text on a picture, allowing the user to easily make selections during the receiving process. The second phase of the SOAR platform, announced this week, takes the process to the next level of efficiency. Driven by machine learning and artificial intelligence, the system provides automated selections of the appropriate text from the OCR scans of images, which eliminates the need for user decision-making. SOAR moves the overall receiving process of assets such as desktops, laptops and other electronic devices to a near-automated experience where the user has minimal interaction with the data itself. The technology streamlines the intake process procedure, simply requiring the user to take a photo of the device. ERI’s proprietary cloud-based software Optech does all the work from there, printing a coded tag for the user to stick to the device. The first iteration of SOAR was initially launched in April of this year. The proprietary concept designed by ERI’s in-house technology team immediately improved receiving times of ITAD equipment coming through ERI’s warehouse doors. Originally, a small number of workstations were set up to test and gain feedback on the SOAR platform. ERI now has more than 50 stations deployed across the country in ERI’s facilities. Efficiency improvements, nationwide, have reached approximately 250% while also increasing accuracy. ERI’s IT team continue to make enhancements to the system, including those announced this week. ERI works with all of its partners to increase the volume of material captured within a closed loop and is the recipient of an overall A rating from the Ellen MacArthur Foundation’s Circulytics tool which measures progress towards a circular economy. ERI is the nation’s leading fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorated over the past week After last week's 24% share price decline to €19.93, the stock trades at a forward P/E ratio of 71x. Average forward P/E is 12x in the Machinery industry in Germany. Total returns to shareholders of 143% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.40 per share. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.086 (vs US$0.019 in 3Q 2021) Third quarter 2022 results: EPS: US$0.086 (up from US$0.019 in 3Q 2021). Revenue: US$30.5m (up 47% from 3Q 2021). Net income: US$4.79m (up 347% from 3Q 2021). Profit margin: 16% (up from 5.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Nov 03
Energy Recovery, Inc. Provides Revenue Guidance for the Full Year Ended December 31, 2022 Energy Recovery, Inc. provided revenue guidance for the full year ended December 31, 2022. Full year revenue guidance of $121-$125 million, or 16%-20% year-on-year growth within gross margin expectations guided last year. Announcement • Oct 12
Energy Recovery Launches PX Q400 Pressure Exchanger Energy Recovery has announced the launch of the PX Q400 Pressure Exchanger. The PX Q400 is the next evolution of Energy Recovery's trusted and industry-leading PX® Pressure Exchanger® technology and will be the new solution in the PX family of products. The PX Q400 will be Energy Recovery's highest-performing and highest-capacity PX available for seawater reverse osmosis (SWRO) desalination and industrial wastewater facilities. As the market leader of ERDs in SWRO desalination and with 30 years of experience in the industry-the PX Q400 marks a continuation in the pursuit of making SWRO desalination more efficient and sustainable. Key advantages of the PX Q400: Highest average efficiency compared to other PX technology products. At 400 gallons per minute (gpm), it is the highest capacity PX yet, which results in 25% fewer devices compared to the PX Q300 (depending on plant size). Less than 3% volumetric mixing. Offers the lowest projected life cycle cost of any ERD for SWRO desalination. Made with corrosion-proof ceramic and designed with only one moving part, the PX Q400 supports a 25-year design life with no scheduled maintenance, leading to incredibly low life cycle costs and maximum uptime. Announcement • Oct 05
Energy Recovery, Inc. to Report Q3, 2022 Results on Nov 02, 2022 Energy Recovery, Inc. announced that they will report Q3, 2022 results After-Market on Nov 02, 2022 Recent Insider Transactions • Aug 12
Independent Director recently sold €61k worth of stock On the 8th of August, Lisa Pollina sold around 3k shares on-market at roughly €22.58 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €40m more than they bought in the last 12 months. Reported Earnings • Aug 04
Second quarter 2022 earnings released: US$0.042 loss per share (vs US$0.019 profit in 2Q 2021) Second quarter 2022 results: US$0.042 loss per share (down from US$0.019 profit in 2Q 2021). Revenue: US$20.3m (down 1.5% from 2Q 2021). Net loss: US$2.36m (down 321% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 37%, compared to a 9.8% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 04
Energy Recovery, Inc. Provides Revenue Guidance for the Full Year of 2022 Energy Recovery, Inc. provided revenue guidance for the full year of 2022. For the year, company revenue guidance of $130 million, or 25% year-on-year growth, reaffirmed within gross margin expectations guided last year. Announcement • Jul 13
Energy Recovery, Inc. to Report Q2, 2022 Results on Aug 03, 2022 Energy Recovery, Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 03, 2022 Announcement • May 10
Energy Recovery, Inc., Annual General Meeting, Jun 09, 2022 Energy Recovery, Inc., Annual General Meeting, Jun 09, 2022, at 10:00 Pacific Standard Time. Agenda: to consider and approve, on a non-binding advisory basis, executive compensation as disclosed in the a ached Proxy statement;to ratify the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2022 and to consider any other business that may properly come before the Annual Meeting or any adjournment or postponement thereof. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$0.14 (vs US$0.12 in 1Q 2021) First quarter 2022 results: EPS: US$0.14 (up from US$0.12 in 1Q 2021). Revenue: US$32.5m (up 13% from 1Q 2021). Net income: US$7.89m (up 15% from 1Q 2021). Profit margin: 24% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 27%, compared to a 9.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Reported Earnings • Feb 26
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$0.25 (down from US$0.47 in FY 2020). Revenue: US$103.9m (down 13% from FY 2020). Net income: US$14.3m (down 46% from FY 2020). Profit margin: 14% (down from 22% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 30%. Over the next year, revenue is forecast to grow 23%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 04
Insider recently sold €13m worth of stock On the 29th of November, Ole Peter Lorentzen sold around 637k shares on-market at roughly €20.90 per share. In the last 3 months, they made an even bigger sale worth €26m. Insiders have been net sellers, collectively disposing of €44m more than they bought in the last 12 months. Recent Insider Transactions • Nov 29
Independent Director recently sold €546k worth of stock On the 22nd of November, Arve Hanstveit sold around 25k shares on-market at roughly €21.85 per share. In the last 3 months, there was an even bigger sale from another insider worth €26m. Insiders have been net sellers, collectively disposing of €30m more than they bought in the last 12 months. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS US$0.019 (vs US$0.097 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$20.8m (down 24% from 3Q 2020). Net income: US$1.07m (down 80% from 3Q 2020). Profit margin: 5.2% (down from 20% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Recent Insider Transactions • Sep 20
Insider recently sold €26m worth of stock On the 15th of September, Ole Peter Lorentzen sold around 2m shares on-market at roughly €17.61 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €30m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 18% share price gain to €19.30, the stock trades at a forward P/E ratio of 60x. Average forward P/E is 20x in the Machinery industry in Germany. Total returns to shareholders of 144% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.23 per share. Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS US$0.019 (vs US$0.30 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$20.6m (down 53% from 2Q 2020). Net income: US$1.07m (down 94% from 2Q 2020). Profit margin: 5.2% (down from 39% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jul 10
Insider recently sold €3.5m worth of stock On the 2nd of July, Ole Peter Lorentzen sold around 185k shares on-market at roughly €19.04 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.0m more than they bought in the last 12 months. Executive Departure • Jun 15
Independent Director Ole Peter Lorentzen has left the company On the 10th of June, Ole Peter Lorentzen's tenure as Independent Director ended after 6.3 years in the role. We don't have any record of a personal shareholding under Ole Peter's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.83 years. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 20% share price decline to US$14.00, the stock trades at a forward P/E ratio of 67x. Average forward P/E is 22x in the Machinery industry in Germany. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.15 per share. Reported Earnings • May 09
First quarter 2021 earnings released: EPS US$0.12 (vs US$0.011 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$28.9m (up 34% from 1Q 2020). Net income: US$6.87m (up US$6.25m from 1Q 2020). Profit margin: 24% (up from 2.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Executive Departure • Apr 27
Senior VP of Corporate Development & Operations has left the company On the 20th of April, Emily Smith's tenure as Senior VP of Corporate Development & Operations ended after 1.3 years in the role. We don't have any record of a personal shareholding under Emily's name. Emily is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improved over the past week After last week's 17% share price gain to US$17.80, the stock trades at a forward P/E ratio of 145x. Average forward P/E is 24x in the Machinery industry in Germany. Total returns to shareholders of 165% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €22.26 per share. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS US$0.47 (vs US$0.20 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$119.0m (up 37% from FY 2019). Net income: US$26.4m (up 142% from FY 2019). Profit margin: 22% (up from 13% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue beats expectations Revenue exceeded analyst estimates by 0.9%. Over the next year, revenue is expected to shrink by 14% compared to a 6.9% growth forecast for the Machinery industry in Germany. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 17% share price gain to US$14.60, the stock is trading at a trailing P/E ratio of 42x, up from the previous P/E ratio of 35.9x. This compares to an average P/E of 37x in the Machinery industry in Germany. Total returns to shareholders over the past three years are 157%. Is New 90 Day High Low • Feb 16
New 90-day high: €12.50 The company is up 39% from its price of €9.00 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.02 per share. Announcement • Jan 05
National Fire & Safety Appoints Chris Gannon as Chief Executive Officer National Fire & Safety announced that Chris Gannon has been appointed Chief Executive Officer, effective immediately. Gannon replaces Greg Londo, who has stepped down to pursue other interests and remains an investor in the business. As CEO, Gannon will oversee National Fire & Safety’s strategy and operations, with a focus on driving the continued expansion of the company’s national footprint through both organic growth initiatives and additional strategic acquisitions. Gannon’s career has focused on building and growing world-class, customer-centric companies in industries that are driven by extensive regulatory requirements. His diverse background includes leadership roles at service, engineering and technology companies serving customers within the industrial, commercial, medical, municipal and residential spaces. Most recently, Gannon served as President and CEO of Energy Recovery, Inc. 
