Energy Recovery Inc reports results for the quarter ended March 31 - Earnings Summary

• Energy Recovery Inc ERII.OQ reported a quarterly adjusted loss of 17 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of -14 cents. The mean expectation of three analysts for the quarter was for a loss of 3 cents per share. Wall Street expected results to range from -14 cents to 3 cents per share.

• Revenue fell 33.3% to $8.07 million from a year ago; analysts expected $21.91 million.

• Energy Recovery Inc's reported EPS for the quarter was a loss of 18 cents​.

• The company reported a quarterly loss of $9.88 million.

• Energy Recovery Inc shares had fallen by 5.3% this quarter and gained 2.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 200% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the industrial machinery & equipment peer group is also "hold"

• Wall Street's median 12-month price target for Energy Recovery Inc is $17.00

This summary was machine generated from LSEG data May 8 at 06:27 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)