Energy Recovery Q3 product revenue down 24% YoY, EPS $0.02, signs PX G1300 deal

Energy Recovery, Inc.

2021-Q3 EPS reported $0.15 revenue$70,328,000

Product revenue $20.8M (-24% YoY); net income $1.1M ($0.02 diluted EPS) vs $5.4M ($0.10) in Q3 2020.
Megaproject channel -36%; OEM +19%, aftermarket +2%; received sixth industrial wastewater order.
Agreement to deploy PX G1300 in Vallarta Supermarkets California; LOI with European grocery chain.
Cash & investments $108.4M; mgmt expects Q4 to be a historic revenue quarter despite supply chain.

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