Energy Recovery Q1 2024 Adj EPS $(0.08) Beats $(0.14) Estimate, Sales $12.090M Miss $13.496M Estimate
Portfolio Pulse from Benzinga Newsdesk
Energy Recovery (NASDAQ:ERII) reported Q1 2024 adjusted EPS of $(0.08), surpassing the $(0.14) estimate, but its sales of $12.090M fell short of the $13.496M forecast, marking a 9.78% decrease from the previous year.

May 01, 2024 | 9:03 pm
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Energy Recovery reported better-than-expected Q1 2024 EPS but missed sales estimates, with a year-over-year decrease in sales.
The mixed financial results with an EPS beat but a miss on sales forecasts could lead to neutral market sentiment towards ERII in the short term. The EPS beat indicates operational efficiency or cost control, which investors may view positively. However, the miss on sales and the year-over-year decrease could raise concerns about revenue growth and market demand for Energy Recovery's products. These contrasting factors are likely to balance each other out, leading to a neutral impact on the stock price in the short term.
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