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Jun 30, 2023
Consolidated Water Q2 2023 Earnings Report
Revenue and net income increased significantly due to growth across all business segments and the progress of construction projects.
Key Takeaways
Consolidated Water Co. Ltd. reported a strong second quarter with a 110% increase in revenue to $44.2 million and net income of $7.3 million, or $0.46 per diluted share. The growth was driven by strong performance across all four business segments, particularly the services segment, and the progress of the water treatment plant construction in Goodyear, Arizona.
Total revenue increased 110% to $44.2 million.
Net income from continuing operations attributable to company stockholders was $7.5 million or $0.47 per diluted share, up 178%.
Signed $204 million contract to design, build, operate and maintain a seawater desalination plant in Hawaii.
Volume of water sold in Grand Cayman retail segment increased 14%.
Revenue by Segment
Forward Guidance
Consolidated Water is optimistic about further growth due to the recovery of tourism in Grand Cayman, ongoing construction projects in the U.S. and Cayman Islands, increased bidding activity in the U.S., and the positive impact of major multi-year projects secured over the last 18 months.
Positive Outlook
- Recovery of tourism in Grand Cayman
- Ongoing construction projects in the U.S.
- Ongoing construction projects in Cayman
- Increased project bidding activity in the U.S.
- Positive impact of major multi-year projects
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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