Consolidated Water Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue fell 11% year-over-year due to declines in manufacturing and retail, but bulk and services segments grew. Strong cash position, no significant debt, and robust tourism in Grand Cayman support future growth, with ongoing regulatory and project timing risks.
Fiscal Year 2025
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Revenue declined 1% to $132.1M, but net income from continuing operations rose to $18.6M, driven by record retail water sales and improved margins. Delays in Hawaii project permitting deferred services revenue, while new projects and expanded manufacturing support future growth.
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Q3 2025 saw 5% revenue growth and improved margins, driven by strong retail, services, and manufacturing performance. Major new projects and a facility expansion position the company for continued growth, while a robust balance sheet and new board appointments support future initiatives.
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Second quarter revenue rose 3% year-over-year, with strong retail and manufacturing growth, improved gross margin, and higher EPS from continuing operations. Cash and liquidity remain robust, supporting increased dividends and future M&A, while major projects in Hawaii and the Bahamas are set to drive growth.
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Q1 2025 revenue fell 15% year-over-year due to completed projects, but retail and manufacturing segments grew strongly. Major growth is expected from the Hawaii desalination project and a robust pipeline of new contracts, with strong cash reserves supporting future investments.
Fiscal Year 2024
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Revenue declined to $134 million in 2024 due to completed construction projects, but recurring O&M revenue and retail water sales grew, supported by strong customer and volume increases. The Hawaii desalination project and facility expansions are set to drive future growth.
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Revenue fell 33% year-over-year due to completed construction projects, but recurring O&M revenue and gross margins improved. Strong cash position and new projects in Hawaii and the Bahamas support a positive long-term outlook.
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Q2 2024 revenue fell 27% year-over-year due to lower construction revenue, but retail and O&M segments grew, with O&M up 75%. Net income surged to $15.9 million, driven by a $11.6 million gain from a Mexico settlement. Strong liquidity supports growth and new projects in the Bahamas and Hawaii.