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) will host a conference call on May 13, 2022, at 11:00 a.m. Eastern time to discuss its Q1 2022 financial results, concluding on March 31, 2022. The call will be managed by company executives and will include a question-and-answer session. Interested participants can join using the provided toll-free or international dial-in numbers. A replay will be available post-conference through the company's website until May 20, 2022.
Consolidated Water operates water supply and treatment facilities across several Caribbean regions and the U.S.
Consolidated Water Co. Ltd. (NASDAQ: CWCO) reported its 2021 financial results, highlighting a 10.2% increase in bulk revenue to $26.8 million. Total revenue was $66.9 million, down 7.9% from 2020, attributed to declines in retail and manufacturing segments. Net income from continuing operations was $3.4 million, or $0.23 per share. Cash and equivalents stood at $40.4 million. The company anticipates a recovery in retail water sales with the return of tourism and is pursuing growth opportunities in water-short regions.
Consolidated Water Co. Ltd. (CWCO) will hold a conference call on March 30, 2022, at 11:00 a.m. Eastern time to discuss its financial results for the year ended December 31, 2021. The results will be announced in a press release prior to the call. Interested parties can dial into the call using toll-free numbers or join via the company’s website for additional details and a replay available after the call. Consolidated Water develops and operates advanced water supply and treatment facilities across several regions including the Caribbean and the U.S.
Consolidated Water Co. Ltd. (CWCO) anticipates a significant boost as tourism returns to the Cayman Islands, with the first cruise ships in two years set to arrive this month. The Cayman Islands' tourism ministry approved an initial 21 cruise ships to dock from March 21 to April 17, allowing around 75,000 passengers, approximately half of pre-COVID levels. The company's CEO stated that this resurgence is crucial for returning retail water sales to normal as tourism recovers. Recent government policy changes also eased COVID-19 restrictions, further supporting tourism recovery.
Consolidated Water Co. Ltd. (CWCO) has declared a quarterly cash dividend of $0.085 per share, payable on April 29, 2022, to shareholders of record as of April 1, 2022. This dividend reflects the company's ongoing commitment to returning value to its shareholders. Consolidated Water specializes in the development and operation of advanced water supply and treatment facilities across the Caribbean and the United States, enhancing its position in the water supply and treatment sector.
Consolidated Water Co. Ltd. (CWCO) reports a surge in water demand in the Cayman Islands, driven by the easing of COVID-19 restrictions under the Phase 5 reopening plan. The company, which operates seven seawater desalination plants, anticipates a return to normal retail water sales as tourism resumes with hotels and restaurants reopening. Major airlines have resumed flights, and bookings for the winter holiday season are promising, with predictions of 80% occupancy by summer. Increased tourism is expected to boost the company's sales.
On February 22, 2022, Consolidated Water Co. Ltd. (CWCO) announced its participation in the 34th Annual ROTH Conference, scheduled for March 13-15, 2022, in Dana Point, California. The conference includes online presentations, one-on-one meetings, and thematic panels. CEO Rick McTaggart and CFO David Sasnett will discuss CWCO's growth strategy, focusing on expanding recurring revenue through additional water and wastewater contracts. This event has previously hosted over 550 companies, attracting more than 5,000 investors and analysts.
Consolidated Water Co. Ltd. (CWCO) will participate in the Gabelli Funds 32nd Annual Pump, Valve & Water Systems Symposium on February 24, 2022. The event will be held both in-person and virtually, focusing on infrastructure spending, energy transition, and M&A opportunities. CFO David Sasnett is set to join a fireside chat at 3:30 p.m. Eastern Time, with the session available for live streaming and replay. Management will present a company overview, and discuss their 2021 results and expectations for 2022.
Consolidated Water Coöperatief, U.A. (CW Coop), a subsidiary of Consolidated Water Co. Ltd. (NASDAQ: CWCO), has filed for arbitration with the ICSID seeking over US$51 million and MXN$137 million from the Mexican Government. This dispute follows the termination of a public-private partnership for a seawater desalination project in Playas de Rosarito, Mexico. CW Coop asserts that the contract termination was unjustified and that it has yet to receive reimbursement for its significant investments made in the project, which aimed to address regional water shortages.
Consolidated Water Co. Ltd. (CWCO) has secured two significant contracts for water treatment facilities, enhancing its business prospects. The first contract, awarded to its subsidiary PERC Water, involves the design of a wastewater reclamation facility in Goodyear, Arizona, which aims to meet rising water demands due to local growth. The second contract from Port St. Lucie, Florida, will involve upgrading a reverse osmosis water treatment plant. Both projects are expected to bolster CWCO’s relationships with municipalities and diversify its revenue streams.
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