Consolidated Water reports Q1 cont-op EPS 31c vs. 43c last year

Reports Q1 revenue $33.7M vs. $39.7M last year. “Our retail, bulk and manufacturing business segments generated meaningful growth and profitability during Q1,” commented CEO Rick McTaggart. “…We recently achieved a major milestone for our $204M project to design, construct, operate and maintain a 1.7 million gallon per day seawater desalination plant in Hawaii. The Honolulu Board of Water Supply, our client for the multi-year project, approved our pilot test reports and recommendations…We now expect to begin the construction of this project early next year once all permits have been received and the client issues a notice to proceed with construction…we anticipate our design/build services revenue to improve in the second half of this year, as three smaller projects currently under contract or nearing final contract stage and set to begin construction. We expect the combined value of these three projects to be approximately $20M. Looking ahead, we are confident in our ability to deliver consistent, long-term revenue and profit growth. Our positive outlook is supported by strong retail water sales growth in Grand Cayman, stable recurring revenue from our Caribbean bulk water operations, our design/build activity (especially the Hawaii project), and the continued positive momentum in our manufacturing segment.”