Welcome to our dedicated page for Consolidated Water Co news (Ticker: CWCO), a resource for investors and traders seeking the latest updates and insights on Consolidated Water Co stock.
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) has secured a contract extension valued at $49.2 million to operate and maintain two advanced water treatment facilities in Southern California, beginning in 2023. The contract, held by its subsidiary PERC Water Corporation, extends for 10 years with two optional 5-year extensions. The facilities include the Albert Robles Center and the Leo J. Vander Lans Facility, which purify nearly 15 million and 8 million gallons per day, respectively. This milestone is expected to bolster CWCO's growth amid ongoing drought conditions in the region.
Consolidated Water Co. Ltd. (NASDAQ: CWCO) reported no damage to its property following Hurricane Ian, which passed 95 miles from Grand Cayman. Minor coastal flooding occurred, but an "all clear" was issued by the National Emergency Operations Centre. The company anticipates no material impact on its operations due to the hurricane's projected path. Consolidated Water develops and operates water supply and treatment facilities across the Cayman Islands, Bahamas, British Virgin Islands, and the U.S.
Consolidated Water Co. Ltd. (CWCO) has announced a quarterly cash dividend of $0.085 per share, payable on October 31, 2022, to shareholders of record by the close of business on October 3, 2022. This dividend reflects the company's commitment to providing returns to its shareholders while engaging in the development and operation of advanced water supply and treatment facilities across the Cayman Islands, The Bahamas, and the British Virgin Islands, as well as in the United States.
Consolidated Water Co. Ltd. (CWCO), a leader in advanced water supply and treatment, will present at the Janney Water Utilities Conference on September 22, 2022. CFO David Sasnett will meet with institutional analysts and investors, discussing recent contract wins and growth strategies aimed at enhancing recurring revenue through new water and wastewater facility contracts.
Consolidated Water Co. Ltd. (CWCO) reported strong second-quarter results for 2022, with total revenue up 26% year-over-year to $21.1 million. Key segments saw revenue growth: retail revenue increased 15%, bulk revenue rose 26%, and services revenue grew 34%. Net income attributed to stockholders was $2.7 million, or $0.18 per share. The company announced a significant $82 million wastewater project in Arizona and a $20 million desalination plant project in the Cayman Islands, enhancing revenue prospects. Cash equivalents stood at $49.1 million, reflecting strong operational cash flow.
Consolidated Water Co. Ltd. (CWCO) will announce its second-quarter results for the period ending June 30, 2022, in a press release before a conference call scheduled for August 12, 2022, at 11:00 a.m. Eastern time. This call will include a management discussion followed by a Q&A session. Interested participants can join using the toll-free number 1-844-875-6913 or the international line 1-412-317-6709. A replay will be accessible on the company’s website after 1:00 p.m. Eastern time on the same day, lasting until August 19, 2022.
Consolidated Water Co. Ltd. (NASDAQ: CWCO) announced a quarterly cash dividend of $0.085 per share. The dividend is payable on July 29, 2022, to shareholders on record as of July 1, 2022. The company specializes in developing and operating water supply and treatment plants across regions like the Cayman Islands, The Bahamas, and the British Virgin Islands.
Founded with a focus on advanced water solutions, Consolidated Water provides comprehensive services in water production, supply, and treatment.
Consolidated Water Co. Ltd. (CWCO) announced that its subsidiary, PERC Water Corporation, signed an agreement to construct a wastewater treatment facility with a capacity of four million gallons per day for Liberty Utilities in Goodyear, Arizona. The project is valued at approximately $82 million and is expected to be completed in 26 months. The facility aims to meet the growing demand in the region and will enable additional reclaimed water usage, promoting water conservation efforts.
Consolidated Water Co. Ltd. (CWCO) reported a 14% increase in Q1 2022 revenue, totaling $19.6 million, driven by strong growth in retail, bulk, and services sectors. Net income rose to $2.3 million or $0.15 per share. Cash reserves grew to $43.1 million, with minimal debt. The company secured significant contracts, including a $20 million seawater desalination project, and benefited from a rebound in tourism as COVID-19 restrictions eased. Despite challenges in the manufacturing segment due to global supply issues, the overall outlook remains optimistic, bolstered by a solid financial position.
Consolidated Water Co. Ltd. (CWCO) has signed a definitive agreement with the Cayman Islands Water Authority to build a seawater reverse osmosis plant in George Town. The facility, designed to produce 2.64 million gallons of potable water daily, is expected to generate approximately $20 million in revenue over 11.5 years. Construction is projected to take 18 months, with the plant becoming the ninth desalination plant on Grand Cayman. The construction fee and operating fees will adjust for inflation, bolstering future revenue estimates.
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