Energy Recovery (ERII) Misses Q2 EPS by 1c
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Energy Recovery Affirms FY 2023 Guidance, Continues Investments in Wastewater and CO2 Business Growth
August 2, 2023 4:26 PM EDTSAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (Nasdaq: ERII) (Energy Recovery or the Company) today announced its financial results for the second quarter and six months ended June 30, 2023.
Second Quarter Highlights
Revenue of $20.7 million, within the lower end of guidance. Revenue was lower due to a timing delay of a $5.7 million megaproject shipment that will subsequently be recognized in the third quarter. Gross margin of 65.4%, within the upper range of our guidance of 64% 66% for the quarter for Water. Operating expenses of $16.1 million, which included... More