Loading...
•
Sep 30, 2023
Consolidated Water Q3 2023 Earnings Report
Revenue and net income increased significantly due to strong growth across all business segments.
Key Takeaways
Consolidated Water Co. Ltd. reported a 99% increase in revenue to $49.9 million for the third quarter of 2023, driven by strong growth across its services, retail water, and manufacturing business segments. Net income attributable to Consolidated Water stockholders was $8.6 million, or $0.54 per diluted share, compared to $0.3 million, or $0.02 per diluted share, for the same period last year.
Total revenue increased 99% to $49.9 million.
Retail revenue increased 15% to $7.2 million.
Services revenue increased 237% to $29.4 million, with recurring services revenue up 48% to $5.0 million.
Net income from continuing operations attributable to company stockholders was $8.8 million or $0.55 per diluted share.
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 continues to remain optimistic about its future growth prospects, encouraged by the continued recovery of tourism to Grand Cayman and progress on several large construction projects underway.
Positive Outlook
- Continued recovery of tourism to Grand Cayman
- Progress on several large construction projects underway
- Positive trends and increased bidding activity in key markets
- Expansion in the U.S. market through the acquisition of Ramey Environmental Compliance (REC)
- Strong synergies in culture and mission with REC
Revenue & Expenses
Visualization of income flow from segment revenue to net income