Consolidated Water . Stock Earnings Reports

Consolidated Water reported Q1 2026 revenue of $30.0M, down 11% year-over-year. The decline was driven by a 76% drop in manufacturing revenue (timing and fewer new purchase orders versus a 2025 record) and a 10.2% retail volume decline in Grand Cayman due to wetter weather. These decreases were partially offset by growth in bulk (+$0.33M) and services (+$1.2M) — O&M revenue rose 15%, helped by a new 3-year municipal contract in Southern California. Gross profit was $10.9M (36% of revenue) and net income from continuing operations was $3.8M ($0.24 per diluted share). The balance sheet remains strong: cash and cash equivalents of $126.3M, working capital $144.3M, stockholders’ equity $223.6M, and no significant debt. Management expects full-year manufacturing revenue to be below 2025’s record level but sees improving manufacturing backlog and medium-term growth opportunities, particularly in Florida municipal projects, design-build and O&M pipelines (PERC), and future Hawaii desalination construction once permitting is completed. Key near-term items and risks: ongoing negotiations on the Cayman utility license with OfReg, elevated CW-Bahamas receivables (CW-Bahamas AR rose to $23.9M), a permit-driven delay on the Kalaeloa (Hawaii) desalination project (construction still expected later this year), and continued evaluation of capital deployment including acquisitions and dividends. Overall, the business mix is shifting toward more recurring O&M and bulk revenue while manufacturing faces timing variability; the company emphasizes a strong liquidity position to pursue growth and M&A opportunities.