Fly News Breaks for October 23, 2019
Oct 23, 2019 | 16:29 EDT
Raymond James analyst Pavel Molchanov initiated coverage of Energy Recovery with an Outperform rating and $12 price target.
News For ERII From the Last 2 Days
Oct 29, 2020 | 17:16 EDT
Reports Q3 revenue $27.41M, consensus $25.06M. "We surpassed our previous year's quarterly product revenue record by 26 percent this quarter, which is a testament to our singular focus on meeting customer demand while keeping our employees safe. We remain on pace to achieve 25 percent year-over-year revenue growth in our water division this year, and we are preparing for further growth in 2021 and beyond. The desalination industry remains robust despite global economic uncertainty because affordable desalination is critical to meet growing water demand for people around the world. We are proud of the impact our technology has in making desalination more energy efficient and sustainable and believe the time has come to introduce pressure exchanger technology to other industries where we can drive efficiency improvements," said Bob Mao, chairman of the board, President and CEO of Energy Recovery.