Energy Recovery Q3 2024 Adj. EPS $0.21 Beats $0.09 Estimate, Sales $38.584M Miss $39.107M Estimate
Portfolio Pulse from Benzinga Newsdesk
Energy Recovery (NASDAQ:ERII) reported Q3 2024 earnings per share of $0.21, surpassing the analyst estimate of $0.09. However, sales of $38.584 million fell short of the $39.107 million estimate. Despite the sales miss, both earnings and sales showed year-over-year growth.
October 30, 2024 | 8:38 pm
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POSITIVE IMPACT
Energy Recovery's Q3 2024 earnings per share significantly beat expectations, but sales slightly missed estimates. Both metrics showed year-over-year growth.
The significant beat on EPS suggests strong profitability, which is positive for the stock. The slight miss on sales is less concerning given the overall growth in both earnings and sales compared to last year. This mixed result is likely to have a positive short-term impact on the stock price due to the strong earnings beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100