Consolidated Water Q1 Revenue $30.0M, -11%; EPS $0.23, -26%
Consolidated Water Co. Ltd. reported its first quarter 2026 financial results, with total revenue decreasing 11% to $30.0 million and diluted earnings per share falling to $0.23 from $0.30 in the prior year. The decline was primarily attributed to lower manufacturing revenue due to order timing and reduced retail revenue caused by increased rainfall. However, the bulk and services segments demonstrated growth, with contributions from a new desalination plant in The Bahamas and increased operations and maintenance contracts. Management anticipates manufacturing revenue to improve for the remainder of the year, though full-year manufacturing revenue is expected to be less than 2025's record, and progress is being made on the Hawaii project's permitting process.
Key Highlights
- Total revenue decreased 11% to $30.0 million in Q1 2026.
- Net income attributable to stockholders was $3.8 million, or $0.23 per diluted share.
- Retail revenue decreased 9% to $8.6 million due to significantly greater rainfall.
- Bulk revenue increased 4% to $8.7 million, driven by a new Cat Island desalination facility.
- Services revenue increased 12% to $11.3 million, primarily from O&M contracts.
- Manufacturing revenue decreased 76% to $1.4 million due to timing of new purchase orders.
- Gross profit for Q1 2026 was $10.9 million (36% of total revenue).
- Cash and cash equivalents increased to $126.3 million as of March 31, 2026.
Price Impact
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