Consolidated Water Reports Q1 2025 Earnings

Consolidated Water ( (CWCO) ) has released its Q1 earnings. Here is a breakdown of the information Consolidated Water presented to its investors.

Consolidated Water Co. Ltd. is a prominent company specializing in the design, construction, and operation of advanced water supply and treatment plants, primarily serving the Cayman Islands, The Bahamas, and the British Virgin Islands, with recent expansion into the U.S. market through a seawater desalination project in Hawaii.

In the first quarter of 2025, Consolidated Water reported a 15% decline in total revenue to $33.7 million, primarily due to a significant drop in services revenue following the completion of two major construction projects in 2024. Despite this, the company saw growth in its retail, bulk, and manufacturing segments.

Key financial highlights include a 9% increase in retail revenue to $9.4 million, a 1% rise in bulk revenue to $8.4 million, and a 10% boost in manufacturing revenue to $5.8 million. However, services revenue fell by 42% to $10.1 million. The company’s net income from continuing operations was $4.9 million, down from $6.9 million in the previous year, with diluted earnings per share at $0.31.

Operationally, the company achieved a significant milestone by completing pilot testing for a seawater desalination plant in Hawaii, which is expected to commence construction next year. Additionally, Consolidated Water secured a new concession from the Cayman Islands government, ensuring continued exclusive rights to supply potable water in Grand Cayman.

Looking forward, Consolidated Water remains optimistic about its long-term growth prospects, driven by strong retail water sales in Grand Cayman, stable bulk water operations, and anticipated improvements in design/build services revenue, particularly with the upcoming Hawaii project.