Consolidated Water ( (CWCO) ) has released its Q3 earnings. Here is a breakdown of the information Consolidated Water presented to its investors.
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Consolidated Water Co. Ltd. is a company specializing in the design, construction, and operation of water supply and treatment facilities, primarily focused on desalination and water reuse in the Caribbean and the United States.
In the third quarter of 2024, Consolidated Water reported a decrease in total revenue by 33% to $33.4 million, largely due to the completion of two major construction projects. However, the company’s retail and bulk water segments showed moderate growth, and the ongoing desalination project in Hawaii remains a significant focus.
Financially, the company experienced a decline in net income from continuing operations to $5.0 million, down from $8.8 million in the previous year. The services segment saw a sharp reduction in revenue due to project completions, but this was partially offset by increases in operations and maintenance revenue. The manufacturing segment also faced a revenue drop, though it managed to significantly boost its gross profit.
Looking forward, Consolidated Water’s management remains optimistic about future growth, driven by increasing water scarcity and demand for advanced treatments. The company plans to leverage its strong balance sheet to pursue new projects and acquisitions, particularly focusing on expanding its presence in water-stressed regions and continuing progress on the Hawaii desalination plant.
These strategic initiatives, coupled with a robust balance sheet, are expected to support the company’s long-term growth and enhance shareholder value in the coming years.
