Energy Recovery Inc reports results for the quarter ended June 30 - Earnings Summary

• Energy Recovery Inc ERII.OQ reported quarterly adjusted earnings of 7 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -1 cents. The mean expectation of three analysts for the quarter was for breakeven results per share. Wall Street expected results to range from -1 cents to 1 cents per share.

• Revenue rose 3.1% to $28.05 million from a year ago; analysts expected $25.43 million.

• Energy Recovery Inc's reported EPS for the quarter was 4 cents​.

• The company reported quarterly net income of $2.05 million.

• Energy Recovery Inc shares had risen by 6.7% this quarter and lost 7.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 94.1% 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 "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the industrial machinery & equipment peer group is also "buy"

• Wall Street's median 12-month price target for Energy Recovery Inc is $15.50, about 12.1% above its last closing price of $13.63

This summary was machine generated from LSEG data August 6 at 09:55 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)