NASDAQ$ERII
Energy Recovery Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported revenue of $27.2 million, exceeding guidance, with a net loss of $0.6 million and adjusted EBITDA of $5.2 million.
Energy Recovery reported strong second-quarter results, with revenue exceeding the upper end of guidance at $27.2 million. The company experienced a slight decrease in gross margin due to higher manufacturing costs and an increase in operating expenses due to strategic investments. Despite a net loss of $0.6 million, the adjusted EBITDA was $5.2 million.
- Revenue reached $27.2 million, surpassing the guidance range of $20 - $25 million.
- Gross margin was 64.6%, a slight decrease of 80 bps compared to Q2 2023.
- Operating expenses increased by 21.4% to $19.6 million due to strategic growth initiatives and executive transition costs.
- Net loss was $0.6 million, while adjusted EBITDA reached $5.2 million.
Headline financials
Revenue & EPS history
Energy Recovery · Revenue · Quarterly
$27.2M
Revenue by segment
Energy Recovery · $33.6M total across 3 segments · Q4 2021
- Megaproject$25.1M+28.1%74.7%
- OEM$5.7M+39.0%17.0%
- Aftermarket$2.8M+3.7%8.3%
Forward guidance
Energy Recovery reaffirms its full-year revenue guidance of $140–$150 million, expecting revenue cadence to be heavily weighted to the third and fourth quarters. The company believes that the summer runtime data is crucial to the commercial adoption of the PX G1300.
Tailwinds
- Reaffirms full-year revenue guidance of $140–$150 million.
- Expects revenue cadence to be heavily weighted to the third and fourth quarters.
- Commissioned nine second-generation PX G1300 deployments at both existing and new customer sites.
- A tenth site to be commissioned by the end of August.
- Summer runtime data is crucial to the commercial adoption of the PX G1300.
Headwinds
- Risks relating to the future demand for the Company’s products
- Risks relating to performance by our customers and third-party partners
- Risks relating to the timing of revenue
- Risks and uncertainties of the Company’s business
- Risks discussed under “Risk Factors” in the Company’s Form 10-K
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-1.2%
Avg return
Earnings day
-1.0%
Avg return
5 days after
+0.1%
Avg return
30 days after
49%
32 / 65 earnings
Positive
+34.9%
Q4 2013
Best reaction
-35.4%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | -23.1% | -29.3% | |
| Q4 2025 | -35.4% | -36.6% | -38.8% | |
| Q3 2025 | -16.0% | -18.6% | -14.7% | |
| Q1 2025 | -18.5% | -18.5% | -16.0% | |
| Q4 2024 | +2.5% | +3.7% | +8.7% | |
| Q3 2024 | +1.6% | +5.3% | -11.5% | |
| Q2 2024 | +21.6% | +10.8% | +12.2% | |
| Q1 2024 | -12.5% | -9.9% | -9.4% | |
| Q4 2023 | -3.6% | -2.4% | -2.4% | |
| Q3 2023 | +16.5% | +19.1% | +24.2% | |
| Q2 2023 | -15.0% | -9.5% | -17.0% | |
| Q1 2023 | +4.7% | +6.0% | +13.8% | |
| Q4 2022 | +3.4% | +2.8% | +2.7% | |
| Q3 2022 | -30.1% | -28.5% | -11.5% | |
| Q2 2022 | +2.8% | +2.3% | +3.1% | |
| Q1 2022 | -2.7% | -6.1% | +14.0% | |
| Q4 2021 | +4.5% | +1.4% | +7.2% | |
| Q3 2021 | +5.5% | +7.8% | -0.6% | |
| Q2 2021 | -2.1% | -3.0% | +17.6% | |
| Q1 2021 | -0.8% | -15.4% | -3.5% | |
| Q4 2020 | +6.8% | +0.2% | +3.2% | |
| Q3 2020 | +9.9% | +11.0% | +23.4% | |
| Q2 2020 | -4.3% | -3.2% | +6.7% | |
| Q1 2020 | -6.9% | -6.1% | -8.0% | |
| Q4 2019 | +6.3% | -8.9% | -29.8% | |
| Q3 2019 | +2.1% | +0.2% | -7.0% | |
| Q2 2019 | +1.6% | -9.7% | -11.9% | |
| Q1 2019 | +10.7% | +6.0% | -2.1% | |
| Q4 2018 | +11.6% | +3.8% | +16.3% | |
| Q3 2018 | +22.4% | +21.9% | +8.9% | |
| Q2 2018 | +13.8% | +20.8% | +20.2% | |
| Q1 2018 | +2.6% | +9.7% | +7.0% | |
| Q4 2017 | +13.3% | +26.3% | +19.3% | |
| Q3 2017 | +12.3% | +27.9% | +42.4% | |
| Q2 2017 | -10.7% | -12.3% | -14.0% | |
| Q1 2017 | -10.3% | -9.2% | -11.9% | |
| Q4 2016 | -7.3% | -10.4% | -7.0% | |
| Q3 2016 | -24.8% | -16.8% | -14.5% | |
| Q2 2016 | +12.5% | +22.1% | +15.7% | |
| Q1 2016 | -6.3% | — | — | |
| Q4 2015 | -5.7% | — | — | |
| Q3 2015 | +15.1% | — | — | |
| Q2 2015 | +1.9% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | -14.7% | — | — | |
| Q3 2014 | -7.5% | — | — | |
| Q2 2014 | +0.5% | — | — | |
| Q1 2014 | -8.7% | — | — | |
| Q4 2013 | +34.9% | — | — | |
| Q3 2013 | -19.1% | — | — | |
| Q2 2013 | +4.0% | — | — | |
| Q1 2013 | -3.4% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | -1.7% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q1 2012 | -3.0% | — | — | |
| Q4 2009 | -7.6% | — | — | |
| Q4 2011 | -7.6% | — | — | |
| Q3 2011 | -11.0% | — | — | |
| Q2 2011 | -10.1% | — | — | |
| Q4 2010 | -10.1% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2010 | +0.7% | — | — | |
| Q1 2010 | -14.5% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro