Consolidated Water Q1 2022 Earnings Report
Key Takeaways
Consolidated Water Co. Ltd. reported a 14% increase in total revenue to $19.6 million for the first quarter ended March 31, 2022, driven by improvements in the retail, bulk, and services segments. Net income from continuing operations attributable to company stockholders was $2.3 million, or $0.15 per share.
Total revenue increased 14% to $19.6 million.
Retail revenue increased 11% to $6.3 million.
Bulk revenue increased 18% to $7.4 million.
Services revenue increased 34% to $4.7 million.
Consolidated Water
Consolidated Water
Consolidated Water Revenue by Segment
Forward Guidance
Consolidated Water is optimistic about the future, planning to expand services revenue in the wastewater reuse market, supported by a strong balance sheet and growing pipeline of potential projects.
Positive Outlook
- Strong advancements made in other areas of business resulted in an improved first quarter and set the stage for future earnings growth.
- Return of tourism to the Cayman Islands is encouraging as the country’s COVID-19 reopening plan continues.
- Experienced an 8% year-over-year increase in water sales in Grand Cayman retail service area during the first quarter of 2022.
- Bulk segment results in the quarter improved on higher revenues and continued to operate efficiently and stably.
- Plans to expand services revenue in the wastewater reuse market is supported by a strong balance sheet and growing pipeline of potential projects.
Challenges Ahead
- Manufacturing segment came in below last year’s levels, largely due to adverse global economic conditions that caused raw material and equipment delivery delays and increased costs.
- Adverse conditions also resulted in order delays from existing and prospective customers.
- Global economic conditions caused raw material and equipment delivery delays and increased costs.
- Order delays from existing and prospective customers.
- Unspecified risks detailed in the company's periodic report filings with the Securities and Exchange Commission (“SEC”).
Revenue & Expenses
Visualization of income flow from segment revenue to net income