Consolidated Water Q1 2024 Earnings Report
Key Takeaways
Consolidated Water Co. Ltd. reported a strong first quarter in 2024, with a 21% increase in revenue to $39.7 million. This growth was driven by increases in the retail, services, and manufacturing segments. Net income from continuing operations attributable to company stockholders was $6.9 million, or $0.43 per diluted share, compared to $4.1 million, or $0.26 per diluted share, in the first quarter of 2023.
Total revenue increased by 21% to $39.7 million.
Retail revenue grew by 11% to $8.6 million.
Services revenue increased by 37% to $17.4 million, with recurring services revenue up 93% to $7.1 million.
Net income from continuing operations was $6.9 million, or $0.43 per diluted share.
Consolidated Water
Consolidated Water
Consolidated Water Revenue by Segment
Forward Guidance
Consolidated Water remains optimistic about future growth prospects, citing water sales growth in Grand Cayman, the Hawaii design-build-operate project, and robust project bidding activity in the Western U.S.
Positive Outlook
- Water sales growth in Grand Cayman is expected to continue.
- The Hawaii design-build-operate project is underway and expected to contribute significantly to revenue beginning in 2025.
- Robust project bidding activity is observed in the Western U.S.
- The company is pursuing design and build projects which could begin in 2025 and subsequent years.
- The company's efficient treatment plant designs, operating capabilities, and project delivery models provide competitive advantages.
Revenue & Expenses
Visualization of income flow from segment revenue to net income