Energy Recovery, Inc. (NASDAQ:ERII) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET

Company Participants

James Siccardi - Vice President of Investor Relations

Bob Mao - Chairman, President, and Chief Executive Officer

Joshua Ballard - Chief Financial Officer

Conference Call Participants

Ryan Pfingst - B. Riley Securities

Pavel Molchanov - Raymond James

Operator

Greetings, and welcome to Energy Recovery First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, James Siccardi, Vice President of Investor Relations. Please go ahead.

James Siccardi

Hello everyone, and welcome to Energy Recovery's 2023 first‐quarter earnings conference call. My name is Jim Siccardi, Vice President of Investor Relations at Energy Recovery. And I am here today with our Chairman, President and Chief Executive Officer, Bob Mao; and our Chief Financial Officer, Joshua Ballard.

During today's call, we may make projections and other forward‐looking statements under the Safe Harbor provisions contained in the Private Securities Litigation Reform Act of 1995 regarding future events or the future financial performance of the company. These statements may discuss our business, economic, and market outlook, growth expectations, new products and their performance, cost structure, and business strategy.

Forward‐looking statements are based on information currently available to us and on management's beliefs, assumptions, estimates, or projections. Forward‐looking statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors. We refer you to documents the company files from time to time with the SEC, specifically the company's Form 10‐K and Form 10‐Q. These documents identify important factors that could cause actual results to differ materially from those contained in our projections or forward‐looking statements.

All statements made during this call are made only as of today, May 3, 2023, and the company expressly disclaims any intent or obligation to update any forward‐looking statements made during this call to reflect subsequent events or circumstances, unless otherwise required by law.

At this point, I will turn the call over to our Chairman, President and Chief Executive Officer, Bob Mao.

Bob Mao

Thank you, Jim. Good afternoon and thank you everyone for joining us today. Let me start with the latest updates in our Water business. In desalination, we continue to be on track for this year. The Middle East remains the foundation of our desalination sales, but as water scarcity continues to increase, other regions are clearly emerging. We’ve previously spoken on the potential of Asia a number of times, which remains true.