Energy Recovery reports record Q4 revenue $42.3M; FY2022 EPS up 75% to $0.42

Energy Recovery, Inc.

2022-FY EPS reported $0.42 revenue$125,591,000

Q4 revenue $42.3M (record), up 26% YoY; FY revenue $125.6M, up 21% YoY.
FY net income $24.0M (+69%); GAAP EPS $0.42 (+75%); adjusted EPS $0.54 (+74%).
FY adjusted EBITDA $36.8M (+50%); gross margin 69.6% (+100 bps).
Core desalination business drove growth; industrial wastewater exceeded 2022 guidance by ~30%.
CO2 refrigeration PX G1300 received repeat orders; discussions for regional distribution agreements.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Energy Recovery, Inc. reported the year ended December 31, 2022 results: revenue $125.6, net income $24.0, EPS $0.42.

Period: the year ended December 31, 2022
Revenue: $125.6
Net income: $24.0
EPS: $0.42
Result: reported results

Exact text from the filing

Revenue $42.3 $33.6 up 26% $125.6 $103.9 up 21% Gross margin 70.7% 68.9% up 180 bps 69.6% 68.6% up 100 bps Operating margin 34.5% 17.8% up 1670 bps 19.8% 13.3% up 650 bps Net income $13.7 $5.3 up 161% $24.0 $14.3 up 69% Net income per share $0.24 $0.09 up 167% $0.42 $0.24 up 75%

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Energy Recovery, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $42.3, net income $13.7, EPS $0.24.

Period: the fourth quarter ended December 31, 2022
Revenue: $42.3
Net income: $13.7
EPS: $0.24
Result: reported results

Exact text from the filing

Revenue $42.3 $33.6 up 26% $125.6 $103.9 up 21% Gross margin 70.7% 68.9% up 180 bps 69.6% 68.6% up 100 bps Operating margin 34.5% 17.8% up 1670 bps 19.8% 13.3% up 650 bps Net income $13.7 $5.3 up 161% $24.0 $14.3 up 69% Net income per share $0.24 $0.09 up 167% $0.42 $0.24 up 75%

View on SEC.gov

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Energy Recovery, Inc. filing history →

Source: SEC EDGAR

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