Consolidated Water Co. Ltd. Earnings Recaps
Q1 2026
May 13, 2026
Shares declined 7.7% following weaker-than-expected revenue driven by a steep 76% drop in manufacturing sales and a 10% volume decline in retail water sales, reflecting deceleration and margin pressure in key segments. Despite growth in bulk and services, investors were clearly disappointed by lowered segment performance and cautious commentary on manufacturing prospects.
Key takeaways
- Total Q1 revenue declined 11% to $30 million, led by a $4.4 million (76%) drop in manufacturing revenue due to project timing and fewer new purchase orders.
- Retail segment revenue fell by $834,000, driven by a 10.2% decrease in water volume sold in Grand Cayman amid wetter weather conditions, partially offset by record tourism growth.
- Bulk and services segments saw modest revenue increases of $333,000 and $1.2 million respectively; service revenue grew 15% driven by new and expanded O&M contracts.
- Gross profit margin contracted slightly to 36% from 37% a year ago, reflecting declines in higher-margin manufacturing and retail sales.
- Accounts receivable for the CW-Bahamas operations rose, adding uncertainty around collection timelines despite government assurances. Cash and liquidity remain strong, with no significant debt and ongoing capital expenditures planned.
Q3 2025
Nov 12, 2025
Consolidated Water Company demonstrated solid growth in Q3 2025, with revenue increasing to $35.1 million and earnings per share rising to $0.34, driven by strong retail sales and manufacturing segment performance.
Key takeaways
- Revenue grew 5% year-over-year, supported by a 6% rise in retail water volume and improved margins in the manufacturing segment.
- Services segment revenue surged by $1.6 million, primarily due to heightened construction activity.
- Net income from continuing operations increased to $5.6 million, up from $5 million a year ago, showcasing effective cost management.
- The company continues to maintain robust liquidity with $123.6 million in cash and no significant outstanding debt.
- A new desalination plant project in Hawaii is anticipated to commence construction early next year, expected to enhance future revenue and earnings.