Energy Recovery, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 09:39 pm
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Energy Recovery, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 20.72 million compared to USD 20.29 million a year ago. Net loss was USD 1.67 million compared to USD 2.36 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.04 a year ago.
For the six months, sales was USD 34.12 million compared to USD 52.84 million a year ago. Net loss was USD 7.96 million compared to net income of USD 5.54 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.1 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.