Consolidated Water Full-Year 2024 Earnings Miss Estimates

Financial Performance - Consolidated Water Co. Ltd. (CWCO) reported full-year 2024 earnings per share (EPS) of $1.12, missing the Zacks Consensus Estimate of $1.29 by 13.2% and down 42% from $1.93 in the previous year [1] - Total revenues for 2024 were $134 million, a decrease of 25.6% from $180.2 million in 2023, and also missed the Zacks Consensus Estimate of $138.92 million by 3.5% [2] Segmental Performance - Retail revenues increased to $31.7 million, up 4.9% from $30.2 million in the previous year, driven by a 4.5% increase in the volume of water sold [3] - Bulk revenues decreased to $33.7 million, down 2.6% from $34.6 million, although this decline was partially offset by new revenues from the Red Gate desalination plant and an amendment to the North Sound contract [4] - Manufacturing revenues totaled $17.6 million, a slight increase of 0.6% from $17.5 million, while services revenues fell significantly to $50.9 million from $98 million, primarily due to a drop in plant construction revenue [5] Expense and Income Analysis - General and administrative expenses rose nearly 11.3% to $27.5 million, while net income from continuing operations was $18.5 million, down from $31.2 million in the previous year [6] Cash and Debt Position - As of December 31, 2024, cash and cash equivalents were $104.9 million, up from $99.4 million at the end of 2023, with working capital at $132.8 million [7] - Total long-term debt decreased to $0.07 million from $0.19 million at the end of 2023, indicating improved financial stability [7] Market Position - Consolidated Water currently holds a Zacks Rank 3 (Hold), reflecting a neutral outlook in the market [8]