Consolidated Water reports Q3 cont-op EPS 31c, consensus 26c

Reports Q3 revenue $33.4M, consensus $31.77M. “In Q3, our revenue and profitability were consistent with our expectations, given the completion of two large design-build projects earlier this year,” stated CEO Rick McTaggart. “We were pleased to see the continuing trend of increasing retail water sales in our exclusive utility service area on Grand Cayman due to the continued business and population growth on the island…”Looking ahead, we remain excited about the future and for many reasons. At the macro level, growing water scarcity continues to build interest in advanced treatment and desalination solutions for impaired resources. As water supply challenges increase, there is a rising demand for the specialized capabilities we provide…Enabled by an exceptionally strong balance sheet, we will continue to invest in new long-term projects. This includes the new desalination plants for Cat Island, as well as new infrastructure for serving the growing water needs of our utility customers in the Cayman Islands which will ultimately drive future bulk and retail revenue growth. Our strong balance sheet also enables us to move quickly on any potential acquisitions…As we complete 2024 and prepare for the new year, we anticipate that all of these positive factors will continue to support our long-term growth, enhance future profitability, and further strengthen shareholder value.”