Consolidated Water (CWCO) Q1 2026 earnings summary

Executive summary

• Net income attributable to stockholders was $3.78M ($0.23–$0.24 per diluted share) for Q1 2026, down from $4.79M–$4.9M ($0.30–$0.31 per diluted share) in Q1 2025, mainly due to lower retail and manufacturing segment performance.

• Revenue decreased to $29.97M–$30.0M from $33.72M year-over-year, with gross profit at $10.92M (36% margin) versus $12.31M (37% margin) in the prior year.

• Cash and cash equivalents rose to $126.3M as of March 31, 2026, with working capital at $144.3M.

Financial highlights

• Gross profit was $10.92M (36% margin), down from $12.31M (37% margin) in Q1 2025.

• Net cash provided by operating activities was $6.54M; investing activities used $1.68M, and financing activities used $2.31M, mainly for dividends.

• Stockholders' equity increased to $223.6M.

• Dividends of $0.14 per share were paid in January and April 2026, up from $0.11 year-over-year.

Outlook and guidance

• Manufacturing revenue for full-year 2026 is projected to be lower than 2025 due to fewer new orders, but improvement is expected for the remainder of the year.

• Construction service segment revenue is anticipated to stay below 2023's record until the Hawaii desalination project commences.

• Delays in permitting for the Hawaii desalination project have deferred revenue recognition and cash flows to future periods.

• Management expects diversified business lines and a strong balance sheet to support growth in 2026 and beyond.