How did ERII's Q2 2024 earnings surprise investors?

Energy Recovery Inc.'s (ERII) Q2 2024 earnings report reflected strategic moves and financial challenges, surprising investors with a net loss of $0.08 per share, beating the consensus estimate of a $0.11 loss. Despite this positive surprise, revenue fell slightly below expectations, at $67.08 million compared to the estimated $67.39 million. The company's focus on strategic expansions and operational efficiency improvements contributed to the positive surprise, though rising costs and operational expenses remain areas of concern.