Energy Recovery, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
February 21, 2024 at 04:09 pm EST
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Energy Recovery, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 128.35 million compared to USD 125.59 million a year ago. Net income was USD 21.5 million compared to USD 24.05 million a year ago.
Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.43 a year ago. Diluted earnings per share from continuing operations was USD 0.37 compared to USD 0.42 a year ago.
Energy Recovery, Inc. is engaged in energy efficiency technology. The Company designs and manufactures solutions that provide cost savings through improved energy efficiency in commercial and industrial processes, with applications across several industries. Its segments include Water and Emerging Technologies. The Water segment develops, sales and supports PX, hydraulic turbochargers and pumps used in seawater desalination and wastewater treatment activities. The Emerging Technologies segment develops, sales and supports activities related to emerging technologies, such as the PX G1300 used in industrial and commercial refrigeration applications. Its solutions are marketed, sold in, or developed for, the fluid-flow and gas markets, such as seawater and wastewater desalination, natural gas, chemical processing and CO2-based refrigeration systems, under the trademarks ERI, PX, Pressure Exchanger, PX Pressure Exchanger (PX), Ultra PX, PX G, PX G1300, PX PowerTrain, AT, and Aquabold.