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Consolidated Water Co. Ltd. CWCO delivered full-year 2024 earnings per share (EPS) of $1.12 per share, which missed the Zacks Consensus Estimate of $1.29 by 13.2%. The bottom line also decreased 42% compared with the year-ago period’s $1.93 per share.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Total Revenues of CWCO
The company’s total revenues for 2024 were $134 million, down 25.6% from the previous year’s $180.2 million. The full-year revenues also missed the Zacks Consensus Estimate of $138.92 million by 3.5%.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Consolidated Water Co. Ltd. price-consensus-eps-surprise-chart | Consolidated Water Co. Ltd. Quote
CWCO’s Segmental Details
Retail revenues for 2024 totaled $31.7 million, up 4.9% from $30.2 million in the previous year. The rise was primarily due to a 4.5% increase in the volume of water sold.
Bulk revenues amounted to $33.7 million, down 2.6% from $34.6 million in the last year. This decrease was partially offset by revenues generated by the commencement on May 1, 2024, of the operations and maintenance contract for the new Red Gate desalination plant on Grand Cayman. The decline was also partially offset by the additional revenues generated by the amendment of the company’s North Sound contract, which also became effective on May 1, 2024.
Manufacturing revenues for the year totaled $17.6 million, up 0.6% from $17.5 million in the previous year.
Services revenues declined to $50.9 million from $98 million in the last year. The decrease in services segment revenue was due to plant construction revenue decreasing from $77.3 million in 2023 to $17.6 million in 2024, as two construction projects were completed in 2024.
Highlights of CWCO’s Earnings Release
Total general and administrative expenses increased nearly 11.3% to $27.5 million.
Net income from continuing operations amounted to $18.5 million compared with $31.2 million in the previous year.
CWCO’s Financial Highlights
Cash and cash equivalents totaled $104.9 million as of Dec. 31, 2024, compared with $99.4 million as of Dec. 31, 2023. Working capital amounted to $132.8 million as of Dec. 31.
Total long-term debt was $0.07 million as of Dec. 31, 2024, lower than $0.19 million at 2023-end.
Cash flow from operating activities during 2024 totaled $36.5 million compared with $7.97 million in 2023.
CWCO’s Zacks Rank
Consolidated Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.