GlobeNewswire·Nov 9, 2026, 5:00 PM ET

Consolidated Water Reports Third Quarter 2026 Results

CWCO

Consolidated Water Co. Ltd. reported third-quarter 2026 total revenue of $30.9 million, a decrease of 11.9% from $35.1 million in the prior-year period.
Retail revenue increased 5.7% to $8.2 million due to higher energy pass-through charges and a rate increase for a major commercial customer, partially offset by lower base rates under a new 25-year license effective August 1, 2026.
Bulk revenue rose 20.8% to $10.1 million, driven by higher energy pass-through charges & revenue from new Cat Island, Bahamas desalination plants.
Services revenue declined 31.7% to $9.8 million, with construction revenue dropping to $3.5 million & recurring O&M revenue falling to $6.1 million following the expiration of three California contracts in Q1 2026.
Manufacturing revenue decreased 39.7% to $2.8 million due to fewer contracts completed & in progress, though the company secured approximately $10.1 million in new Florida municipal purchase orders for delivery in November 2027.
Net income from continuing operations attributable to stockholders totaled $2.4 million ($0.15 per diluted share), down from $5.6 million ($0.34 per diluted share) in the third quarter of 2025.
The company announced an approximately $39.8 million design-build award from the City of Pismo Beach, California, for a water purification facility with construction expected to begin in spring 2027.
The Hawaii Kalaeloa desalination project advanced with a $6 million Limited Notice to Proceed issued in July 2026, with construction anticipated in the first half of 2027 & a 20-year operations contract following commissioning.
Cash & cash equivalents stood at $129.2 million with working capital of $145.1 million as of September 30, 2026.
For the first nine months of 2026, total revenue decreased 8.5% to $93.8 million, while net income from continuing operations was $10.2 million ($0.64 per diluted share) compared to $15.7 million ($0.97 per diluted share) in the same period of 2025.
First-nine-months retail revenue declined 1.5% to $25.4 million, primarily due to significantly higher rainfall on Grand Cayman reducing water sales volume by 4.1%.
Bulk revenue for the first nine months increased 14.9% to $28.8 million, & manufacturing revenue fell 56.1% to $6.9 million.
The company remains focused on executing projects in Hawaii & Florida, with $150 million in contracted backlog for the Hawaii project & approximately $45 million in Florida municipal projects expected to go to bid within six months.

Company: Consolidated Water Co. Ltd.
Keywords: Nasdaq:CWCO, Consolidated Water Co. Ltd.