Energy Recovery, Inc. (NASDAQ:ERII) Q1 2024 Earnings Call Transcript

Joshua Ballard: No. No real changes since then. We’re not seeing any new delays or any new strange movement in our pipeline or anything like that. Things are moving on track generally. And I would probably point — because we’re not ready to yet talk about 2025 numbers but I’d point you to the industry data source for desal which is desal data coming out of the GWI. They’ve got some good industry data that still shows pretty strong growth over the next few years. I point you there for now and then when we get to the November call, the Q3 call, we’ll be talking more about 2025 and the future, more explicitly.

Ryan Pfingst: That’s helpful. And maybe just 1 more for you on water. In the past, you’ve talked about an estimated PX TAM of $0.5 billion solely for replacing thermal with SWRO tech. What does that opportunity look like today?

Joshua Ballard: We’ve done — we’ve already covered about 20% of that. So we’re at somewhere around $400 million left which will play out over the next 10 years, 15 years, coming — as plants age out.

Operator: [Operator Instructions] Thank you. We have reached the end of our question-and-answer session. And with that, I would like to turn the floor back over to James Siccardi for any closing comments.

James Siccardi: Thank you, everyone, for joining us today. We look forward to speaking with you again in late July. Good evening.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.