Energy Recovery, Inc. (NASDAQ:ERII) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET


Energy Recovery, Inc. (NASDAQ:ERII) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings. And welcome to the Energy Recovery's Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]

It is now my pleasure to introduce your host, James Siccardi, Vice President of Investor Relations. Thank you, Mr. Siccardi, you may begin.

James Siccardi

Good afternoon, everyone, and welcome to Energy Recovery's 2020 Second Quarter Earnings Conference Call. My name is Jim Siccardi, Vice President of Investor Relations at Energy Recovery. I'm 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, the Company's ability to commercialize VorTeq, 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, July 30, 2020, and the Company expressly disclaims any intent or obligations to update any forward-looking statements made during this call to reflect subsequent events or circumstances, unless otherwise required by law.

In addition, we may make some references to non-GAAP financial measures during this call. You will find supplemental data in the Company's earnings press release, which was released to newswires and furnished to the SEC earlier today. The press release includes reconciliations of non-GAAP measures to comparable GAAP results.

At this point, I'd like to turn the call over to our Chairman, President and Chief Executive Officer, Bob Mao. Bob, the floor is yours.

Robert Mao

Thank you, Jim, and thank you, everyone, for joining us today. I want to start today's call as I did last quarter with the sincere hope that everyone listening and your families are safe and healthy. I am happy to report that the Energy Recovery team and our business remains healthy, well and strong. The COVID-19 pandemic has not abated as hoped, and it has changed how the world and we at Energy Recovery must operate. Today, both the water industry as a whole and Energy Recovery have managed well through this pandemic. We are optimistic on the future. We remain focused on balancing first the health and safety of all our employees, but also on protecting our employees' livelihoods and shareholders' investments.

Energy Recovery is at a key inflection point. First, like everyone,