Consolidated Water Co Ltd
F:CW2
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Consolidated Water Co Ltd
Consolidated Water Co. Ltd. builds and runs seawater desalination plants and related water systems. It turns seawater into drinking water and also helps municipal, industrial, and resort customers move, treat, and distribute water where fresh water is scarce. The company is not a water utility in the usual sense; it is more of a specialist operator and contractor for places that need reliable water supply in coastal or island markets. It makes money by selling water under long-term supply contracts, by operating plants for customers, and by designing, building, and sometimes maintaining desalination and water treatment facilities. Its customers include local governments, public utilities, hotels, developers, and businesses that need dependable water in areas where groundwater or surface water is limited. In some cases it also sells equipment and services tied to these systems. What makes the business different is that water is its product, but the company sits in the middle of a technical infrastructure chain. It does not just pipe water; it creates it from seawater and then often runs the plant that produces it. That gives it a niche role in markets where water scarcity makes desalination a practical long-term answer.
Consolidated Water Co. Ltd. builds and runs seawater desalination plants and related water systems. It turns seawater into drinking water and also helps municipal, industrial, and resort customers move, treat, and distribute water where fresh water is scarce. The company is not a water utility in the usual sense; it is more of a specialist operator and contractor for places that need reliable water supply in coastal or island markets.
It makes money by selling water under long-term supply contracts, by operating plants for customers, and by designing, building, and sometimes maintaining desalination and water treatment facilities. Its customers include local governments, public utilities, hotels, developers, and businesses that need dependable water in areas where groundwater or surface water is limited. In some cases it also sells equipment and services tied to these systems.
What makes the business different is that water is its product, but the company sits in the middle of a technical infrastructure chain. It does not just pipe water; it creates it from seawater and then often runs the plant that produces it. That gives it a niche role in markets where water scarcity makes desalination a practical long-term answer.
Revenue: Consolidated Water reported first-quarter revenue of $30 million, down 11% year over year, as weaker manufacturing and retail sales more than offset growth in bulk and services.
Retail pressure: Grand Cayman retail water volumes fell 10.2% because of much wetter weather, although management said tourism was unusually strong and April conditions look better for second-quarter demand.
Manufacturing slowdown: Manufacturing revenue dropped 76% to $1.4 million due to the timing and lower dollar volume of new purchase orders, and management expects full-year manufacturing revenue to be below last year’s record level.
Services growth: Services revenue rose 15% to $8.9 million, helped by a new 3-year municipal O&M contract in Southern California expected to generate about $4.5 million over the next 3 years.
Profitability: Gross profit fell to $10.9 million from $12.3 million a year ago, while net income from continuing operations was $3.8 million, or $0.24 per diluted share.
Hawaii delay: The Hawaii desalination project is still waiting on a key permit, but management said there is no project redesign issue and expects construction to begin later this year.
Balance sheet: Cash remained strong at $126.3 million, with no significant debt, though CW-Bahamas receivables increased to $23.9 million and management said timing of collection remains uncertain.
