Consolidated Water(US:CWCO)2025-11-10 22:03Revenue Performance - Total revenue increased by 5% to $35.1 million compared to $33.4 million in Q3 2024[5] - Retail revenue rose by 2% to $7.8 million, driven by a 6% increase in water volume sold[5][16] - Services revenue increased by 13% to $14.3 million, with construction revenue up 50% to $6.4 million[5][9] - Revenue for the first nine months of 2025 was $102.4 million, a decrease of 3% from $105.6 million in the same period of 2024[21] - Total revenue for Q3 2025 reached $35,118,706, an increase from $33,390,557 in Q3 2024, representing a growth of approximately 5.2% year-over-year[28] - Retail revenue for Q3 2025 reached $7,770,344, a 2.4% increase from $7,585,992 in Q3 2024[32] - Services revenue for Q3 2025 was $14,289,315, a 12.7% increase compared to $12,677,837 in Q3 2024[33] - Total revenue for the nine months ended September 30, 2025, was $102,425,170, down 3.4% from $105,559,105 in the same period of 2024[42] Profitability - Net income from continuing operations was $5.6 million, or $0.34 per diluted share, up from $5.0 million, or $0.31 per diluted share in Q3 2024[19] - Gross profit for Q3 2025 was $12.9 million, representing 37% of total revenue, compared to $11.6 million, or 35% of total revenue in Q3 2024[18] - Gross profit for Q3 2025 was $12,945,909, compared to $11,634,658 in Q3 2024, indicating a year-over-year increase of about 11.3%[28] - Net income from continuing operations for Q3 2025 was $5,745,500, up from $5,114,102 in Q3 2024, reflecting a growth of approximately 12.3%[28] - The company recorded a net income attributable to Consolidated Water Co. Ltd. stockholders of $15,419,578 for the nine months ended September 30, 2025, compared to $26,779,069 in 2024, a decrease of about 42.5%[31] - Basic earnings per share for continuing operations in Q3 2025 was $0.35, up from $0.31 in Q3 2024, representing a growth of 12.9%[42] Expenses and Financial Position - General and administrative expenses for the nine months ended September 30, 2025, totaled $22,522,919, compared to $20,126,292 in 2024, an increase of about 11.9%[29] - Cash and cash equivalents reached $123.6 million, with working capital of $141.7 million as of September 30, 2025[20] - The company reported a decrease in accounts receivable, net, to $28,996,834 in Q3 2025 from $39,580,982 in Q3 2024, a reduction of 26.7%[41] - Total assets increased to $257,234,652 as of September 30, 2025, compared to $243,313,181 as of December 31, 2024, reflecting a growth of 5.7%[41] Projects and Future Outlook - The company secured two water treatment plant construction projects valued at approximately $15.6 million, expected to generate revenue primarily in 2026[5] - The design of a $204 million seawater desalination plant project in Hawaii is now 100% complete, with construction expected to begin once permits are obtained[6][12] - The company is currently engaged in a $204 million design-build-operate project for a seawater desalination plant in Hawaii[35] Other Financial Metrics - Interest income for the nine months ended September 30, 2025, was $2,011,114, compared to $1,341,797 in the same period of 2024, representing a significant increase of approximately 49.8%[29] - The provision for income taxes for the nine months ended September 30, 2025, was $1,832,933, compared to $2,175,838 in 2024, indicating a decrease of approximately 15.7%[29] - The company reported a net loss from discontinued operations of $252,857 for the nine months ended September 30, 2025, compared to a net income of $10,637,926 in 2024[31] - Dividends declared per common and redeemable preferred shares increased to $0.14 in Q3 2025 from $0.11 in Q3 2024, a rise of 27.3%[42]