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Mar 31, 2023
Consolidated Water Q1 2023 Earnings Report
Revenue increased significantly due to strong growth across all business segments, driven by a return to normalcy post-pandemic.
Key Takeaways
Consolidated Water reported a strong first quarter with a 68% increase in revenue to $32.9 million, driven by growth across all business segments. Net income attributable to Consolidated Water Co. Ltd. stockholders was $3.8 million, or $0.24 per basic and fully diluted share.
Total revenue increased 68% to $32.9 million.
Retail revenue increased 23% to $7.8 million.
Bulk revenue increased 22% to $9.0 million.
Services revenue increased 168% to $12.7 million.
Consolidated Water
Consolidated Water
Consolidated Water Revenue by Segment
Revenue by Segment
Retail Revenue
CapyFin.comServices Revenue
CapyFin.comManufacturing Revenue
CapyFin.com Forward Guidance
The company remains optimistic about further growth due to the continued recovery of tourism in Grand Cayman, ongoing construction projects in the U.S. and Grand Cayman, and increased project bidding activity in the U.S. and the Caribbean.
Positive Outlook
- Continued recovery of tourism in Grand Cayman.
- Ongoing construction projects underway in the U.S. and Grand Cayman.
- Increased project bidding activity in the U.S. and the Caribbean.
- Major multi-year projects secured in 2022 are expected to have an increasing positive impact on earnings.
- Recent activities and successes, and current trends in our markets, represent strong catalysts for continued growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income