Menu
sharewise sharewise
Log in
Sign up
Log in
Sign up
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Energy Recovery Announces Share Repurchase Program

BusinessWire_EN 
0 0 18.11.24
Energy Recovery Announces Share Repurchase ProgramPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.midjourneyapi.xyz/temp/138548fd-aba2-4b3e-b9ee-93725b372952.png
 

Energy Recovery, Inc. (Nasdaq: ERII) today announced that its Board of Directors approved a share repurchase program to purchase up to $50 million of the company's outstanding common stock over the next 12 months, beginning in November 2024.

“With our strategic plan, or Playbook, complete we now have a clear picture of the capital required to fund our growth,” said Energy Recovery's President and CEO David Moon. “As such, we are happy to return a large portion of our cash to shareholders. We are in the fortunate position of being able to provide our shareholders with both strong business growth, as well as generous capital return.”

Under the newly authorized repurchase program, purchases of shares of common stock may be made from time to time through open market trades, block trades and/or privately negotiated transactions, in compliance with applicable state and federal securities laws. The timing and amounts of any purchases will be at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time without prior notice.

Payment for shares repurchased under the program will be funded using the Company's cash on hand.

About Energy Recovery

Energy Recovery is a trusted global leader in energy efficiency technology. Building on our pressure exchanger technology platform, we design and manufacture reliable, high-performance solutions that generate cost savings, increase energy efficiency, and reduce carbon emissions across several industries. With a strong foundation in the desalination industry, Energy Recovery has delivered transformative solutions that increase operational efficiency and environmental sustainability to our customers worldwide for more than 30 years. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing and R facilities in California, with sales and on-site technical support available globally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241118563259/en/

Energy Recovery Stock

€7.51
3.510%
A very strong showing by Energy Recovery today, with an increase of €0.26 (3.510%) compared to yesterday's price.
Our community is currently high on Energy Recovery with 3 Buy predictions and 0 Sell predictions.
With a target price of 12 € there is a hugely positive potential of 59.87% for Energy Recovery compared to the current price of 7.51 €.
Show more
Like: 0
Share
BusinessWire_EN 
Business Wire, a Berkshire Hathaway company, is the global leader in press release distribution and regulatory disclosure. Investor relations, public relations, public policy and marketing professionals rely on Business Wire for secure and accurate distribution of market-moving news and multimedia.

Legal notice

Comments

Not a member yet? Sign up for free!