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Mar 31, 2024
Consolidated Water Q1 2024 Earnings Report
Consolidated Water's Q1 2024 earnings were reported, with revenue up 21% to $39.7 million, driving net income from continuing operations of $6.9 million, or $0.43 diluted EPS.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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