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Consolidated Water Co. Ltd., trading under the symbol CWCO, is a premier developer and operator of seawater desalination plants and water distribution systems. The company was founded in 1973 and has since expanded from its Cayman Islands origins to a robust international presence. Consolidated Water operates in the Cayman Islands, Belize, the British Virgin Islands, the Commonwealth of the Bahamas, and Bali, Indonesia, ensuring access to potable water in regions where it is scarce or unavailable.
With over 35 years of expertise, Consolidated Water specializes in Sea Water Reverse Osmosis (SWRO) technology. The company's operations are divided into three main segments:
- Retail Water Operations: Provides water utility services to the Seven Mile Beach and West Bay areas of Grand Cayman Island.
- Bulk Water Operations: Supplies potable water to government utilities in the Cayman Islands and The Bahamas under long-term contracts.
- Engineering & Management Services: Designs, constructs, and sells water infrastructure, offering management and operating services to third parties.
In addition to these core segments, Consolidated Water also has a manufacturing division that produces and services a variety of specialized water-related products for commercial, municipal, and industrial water production and treatment applications.
Consolidated Water recently made headlines with its strategic acquisition of Ramey Environmental Compliance (REC) for $4.2 million in cash, expanding its footprint into Colorado. REC serves over 100 water and wastewater treatment customers, marking a significant growth opportunity for CWCO in water-stressed regions of the U.S.
On the financial front, Consolidated Water reported robust growth for Q3 2023 with revenue nearly doubling to $49.9 million, driven by increased tourist activity in Grand Cayman and significant progress in plant construction projects. The company also saw a substantial increase in net income and declared a dividend increase of 11.8% for the fourth quarter of 2023.
Continuing its expansion, the company has entered the U.S. desalination market with a contract to design, build, operate, and maintain a seawater desalination plant in Hawaii, expected to generate approximately $204 million in revenue over the project's 24-year base term.
For more detailed financial results and future projections, Consolidated Water Co. Ltd. will hold a conference call on November 10, 2023. For information on how to join the call, visit their official website at www.cwco.com.
Consolidated Water Co. Ltd. (CWCO), a notable provider of water treatment solutions, announced the passing of long-time director Richard L. Finlay on March 14, 2023, due to a brief illness. Finlay, who joined the board in 1995, played a crucial role in guiding the company from a local utility to a multinational entity serving millions across the Caribbean and the U.S. The company's chairman expressed deep condolences for Finlay's loss, highlighting his legal expertise and dedication to the board. Consolidated Water continues to focus on developing and operating water treatment plants and distribution systems in multiple regions.
Consolidated Water Co. Ltd. (CWCO) reported its 2022 financial results, achieving a record revenue of $94.1 million, up 41% year-over-year. Key drivers include a 206% surge in services revenue and a 71% increase in fourth-quarter total revenue. Net income from continuing operations rose 138% to $8.2 million, reflecting robust performance across segments and a cash dividend of $0.085 per share. Major contracts secured include an $82 million project in Arizona and a $20 million seawater desalination plant in the Cayman Islands. The company is optimistic about future growth trends in tourism and substantial multi-year projects valued over $150 million.
Consolidated Water Co. Ltd. (CWCO) will hold a conference call on March 31, 2023, at 11:00 a.m. Eastern time, to discuss its 2022 financial results. A press release detailing these results will be issued prior to the call. Interested parties can participate via a toll-free number or internationally, with a replay available post-call through April 7, 2023. Consolidated Water specializes in developing and operating advanced water treatment facilities, primarily in the Cayman Islands, The Bahamas, and British Virgin Islands. The company is dedicated to providing essential water services and has manufacturing capabilities related to water production and treatment.
Consolidated Water Co. Ltd. (CWCO) has been invited to the 35th Annual ROTH Conference from March 12-14, 2023, at The Ritz Carlton in Laguna Niguel, California. CEO Rick McTaggart, along with EVP and COO Ramjeet Jerrybandan, will engage in one-on-one meetings with investors and analysts. The management will highlight future growth drivers, including over $150 million in major multi-year projects secured in the previous year. In Q3 2022, the company reported a 53% revenue increase to $25.1 million and a net income of $824,000 ($0.05 per share). CWCO also announced a quarterly dividend of $0.085, payable on April 3, 2023.
Consolidated Water Co. Ltd. (CWCO) declared a quarterly cash dividend of $0.085 per share, scheduled for payment on April 28, 2023. Shareholders on record as of April 3, 2023 will qualify for the dividend. The company, based in the Cayman Islands, specializes in the development and operation of advanced water treatment and supply facilities across various locations, including the Bahamas and the United States.
Consolidated Water Co. Ltd. (CWCO) has exercised its option to acquire the remaining 39% equity stake in its subsidiary, PERC Water Corporation, for approximately $7.8 million. The deal, finalized on January 4, 2023, includes $2.44 million in cash and 368,383 shares of common stock. PERC, which focuses on water infrastructure in the Western U.S., generated roughly $17.8 million in revenue in the first nine months of 2022. This acquisition is expected to enhance shareholder value and support growth in the region facing critical water shortages.
Consolidated Water Co. Ltd. (CWCO) will present at the Bank of America 2022 Water Conference on December 6, 2022. Executive Vice President and CFO, David Sasnett, will lead the presentation and engage in one-on-one meetings with institutional analysts and investors. The discussion will focus on the company’s recent results and future growth, particularly over $150 million in major multi-year projects secured this year. The PERC Water subsidiary is also expanding its recurring revenue through new contracts in the Southwest U.S.
Consolidated Water Co. Ltd. (CWCO) has declared a quarterly cash dividend of $0.085 per share, payable on January 31, 2023. Shareholders of record must hold the shares by the close of business on January 3, 2023. The company specializes in advanced water supply and treatment solutions, operating across the Cayman Islands, The Bahamas, and the British Virgin Islands, with additional facilities in the United States.
Consolidated Water Co. Ltd. (CWCO) reported a 53% increase in third-quarter revenue to $25.1 million, with net income at $824,000 or $0.05 per share. Retail revenue rose 20% to $6.3 million, while services revenue surged 172%. Cash and equivalents reached $51.1 million, and the company secured a $10 million credit facility. However, higher general and administrative expenses impacted net income. Significant projects include an $82 million treatment plant in Arizona and a new desalination plant in the Cayman Islands, with expectations of continued revenue growth from these initiatives.
Consolidated Water Co. Ltd. (NASDAQ: CWCO) will host a conference call on November 15, 2022, at 11:00 a.m. Eastern to discuss third-quarter results ended September 30, 2022. A press release with financial details will be issued prior to the call, which will include a question-and-answer session. Participants can join via a toll-free dial-in number or the international number provided. A replay will be accessible post-call until November 22, 2022. The company specializes in advanced water supply and treatment solutions across several regions.
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