The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Energy Recovery beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP loss per share dropped.
Margins grew across the board.
Energy Recovery reported revenue of $15.1 million. The four analysts polled by S&P Capital IQ expected sales of $13.7 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $6.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.04. The five earnings estimates compiled by S&P Capital IQ predicted -$0.02 per share. GAAP EPS were -$0.04 for Q4 versus -$0.19 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 43.1%, much better than the prior-year quarter. Operating margin was -12.6%, much better than the prior-year quarter. Net margin was -14.5%, much better than the prior-year quarter.
Next quarter's average estimate for revenue is $8.8 million. On the bottom line, the average EPS estimate is -$0.04.
Next year's average estimate for revenue is $48.1 million. The average EPS estimate is -$0.08.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Energy Recovery is hold, with an average price target of $2.61.
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