Quarterly ResultMay 11, 2026, 05:35 PM
Consolidated Water Q1 Revenue $30.0M, Net Income $3.8M
AI Summary
Consolidated Water Co. Ltd. reported a decrease in total revenue by 11% to $30.0 million and net income by 21% to $3.8 million for the first quarter of 2026 compared to the prior year. The decline was primarily due to lower manufacturing revenue and reduced retail water sales caused by increased rainfall. However, the bulk and services segments showed growth, partially offsetting these declines, with management expressing optimism for future project-driven revenue growth in manufacturing and construction.
Key Highlights
- Total revenue decreased 11% to $30.0 million in Q1 2026 from $33.7 million in Q1 2025.
- Net income attributable to stockholders was $3.8 million, or $0.23 per diluted share, down from $4.8 million, or $0.30 per diluted share.
- Cash and cash equivalents increased to $126.3 million, and working capital increased to $144.3 million as of March 31, 2026.
- Retail revenue decreased 9% to $8.6 million due to significantly greater rainfall on Grand Cayman.
- Bulk revenue increased 4% to $8.7 million, driven by a new desalination facility in Cat Island, The Bahamas.
- Services revenue increased 12% to $11.3 million, primarily from O&M contracts, including a new municipal client in California.
- Manufacturing revenue decreased 76% to $1.4 million due to timing of new purchase orders, but is expected to improve later in 2026.
- The company expects manufacturing revenue for full-year 2026 to be less than record 2025 levels, but anticipates growth from Florida municipal projects.
Price Impact
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