Energy Recovery appoints John Mitchell to board of directors

Energy Recovery appoints John Mitchell to board of directors

Gold slides as U.S.-Iran conflict lifts oil, hawkish Fed bets grow SAN LEANDRO, Calif. - Energy Recovery (NASDAQ:ERII) announced today the appointment of John Mitchell to its board of directors, according to a press release statement. The appointment comes as the company, valued at $450 million, trades at $8.73—down 35% year-to-date—though InvestingPro analysis suggests the stock appears undervalued at current levels. The company maintains a robust balance sheet with more cash than debt and an impressive gross profit margin of 64%.

Mitchell brings over 30 years of experience in global leadership across finance, operations, and technology-intensive industrial businesses. He most recently served as Senior Vice President and General Manager of the Sensor Solutions business at TE Connectivity, where he oversaw operations serving automotive, industrial automation, aerospace, and medical device industries. He previously served as President of TE SubCom, which specializes in undersea communications technology and marine services.

His career also includes senior financial leadership positions at TE Connectivity, including Vice President of Finance for its Transportation Solutions division. Earlier roles included financial leadership positions at JohnsonDiversey, Tyco Electronics Power Systems, and Tyco Electronics across Europe and the United States. Mitchell holds an M.B.A. in Finance and General Management from University College Dublin and a Bachelor of Business Studies in Finance from the University of Limerick.

Energy Recovery designs and manufactures energy-saving technology for infrastructure applications. The company is headquartered in the San Francisco Bay Area and operates manufacturing and research facilities in California. For deeper insights into ERII’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.

In other recent news, Energy Recovery reported its first-quarter 2026 earnings, surpassing market expectations with an earnings per share (EPS) of -$0.11, better than the forecasted -$0.13. The company also exceeded revenue expectations, achieving $9.7 million compared to the anticipated $8.3 million. This revenue growth was driven by a 20% year-over-year increase, largely due to original equipment manufacturer (OEM) sales, although aftermarket revenue saw a decline of 32%.

In addition to its financial performance, Energy Recovery has secured five new wastewater treatment projects in India, involving the installation of pressure exchanger energy recovery devices across various industries. Furthermore, the company announced a leadership change, appointing board member Alex Buehler as interim president and CEO following the accelerated retirement of David Moon. Meanwhile, Freedom Broker downgraded Energy Recovery’s stock rating to Hold from Buy, citing margin pressure, and adjusted its price target to $11.00 from $13.00.

These developments highlight a dynamic period for the company, marked by strong earnings, strategic projects in India, and leadership transitions.