Consolidated Water Co earnings date
Consolidated Water Co (CW2) Q3 2026 Earnings Report
DE:CW2 Q3 2026 EPS Results
- Actual EPS
- EUR 0.14
- Consensus EPS
- EUR 0.21
- Beat/Miss
- Missed by -EUR 0.07
- One Year Ago EPS
- EUR 0.31
DE:CW2 Q3 2026 Revenue Results
- Actual Revenue
- EUR 28.05M
- Expected Revenue
- EUR 29.12M
- Beat/Miss
- Missed by -EUR 1.07M
- YoY Revenue Growth
- -11.95%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/09/2026
- Time
- After Close
- Conference Call
- Monday, November 9, 2026
Consolidated Water Co's next earnings date is estimated for March 31, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call presented a mixed near-term performance picture: third-quarter revenue, gross profit, margin, net income, services revenue, and manufacturing revenue declined, while bulk and retail revenue increased and retail water volume grew approximately 1%. Management emphasized a strong balance sheet with no debt, major contracted opportunities including the $39.8 million Pismo Beach agreement and more than $150 million of unrecognized Kalaeloa backlog, record Florida equipment orders, and a pipeline supporting a strong 2027 outlook. Permitting delays, rainfall, lower retail rates, expired O&M contracts, and continued weakness in 2026 manufacturing revenue remain notable challenges. Highlights outweigh the lowlights because the call emphasized substantial contracted backlog, improving bulk and retail performance, liquidity, and multiple future growth opportunities.
Management continues to expect full year 2026 manufacturing revenue to be below 2025 levels based on current projections, while approximately $10.1 million in Florida municipal purchase orders, approximately $10 million in bids expected to be decided and awarded in the fourth quarter of this year, and approximately $45 million in Florida municipal water projects expected to go to bid within the next 6 months support an outlook for a strong 2027 for the manufacturing business; the approximately $39.8 million Pismo Beach project is expected to begin construction in spring 2027 and span approximately 24 months, while the approximately $6 million Kalaeloa long-lead equipment procurement supports anticipated construction in the first half of 2027, subject to obtaining the remaining permits and approvals, with design and construction representing more than $150 million of contracted backlog not yet recognized as revenue; projected liquidity requirements for the balance of 2026 include capital expenditures of approximately $1.5 million.
- New Pismo Beach Design-Build AgreementAfter quarter end, the company announced an approximately $39.8 million design-build agreement with the City of Pismo Beach, California, for the Central Coast Blue Advanced Water Purification Facility. Planning and design began last month, construction is anticipated in spring 2027, and the project is expected to span approximately 24 months. The scope includes design, construction, testing, training city personnel, and support for initial operations.
- Kalaeloa Project Progress and BacklogThe July limited notice to proceed authorized approximately $6 million for long-lead equipment procurement for the Kalaeloa desalination facility. Recent approvals allowed the company to pursue remaining permits and approvals, and construction is anticipated to begin in the first half of 2027, subject to securing them. The project represents more than $150 million of contracted backlog not yet recognized as revenue, and the company is contracted to operate and maintain the facility for 20 years with two additional five-year extension options at the client's discretion.
- Record Municipal Equipment Orders in FloridaThe company announced approximately $10.1 million in purchase orders from a municipality on Florida's East Coast for nanofiltration membrane water treatment equipment and horizontal cartridge filters. These were described as the company's largest municipal membrane equipment and cartridge filter orders to date, with delivery scheduled for November 2027.
- Retail Revenue GrowthRetail revenue increased 5.7% to $8.2 million, primarily due to higher energy pass-through charges and an increased rate for a major commercial water customer on Grand Cayman. Water sales volume increased approximately 1% year over year, offsetting the impact of lower retail water rates under the new license.
- Long-Term Grand Cayman Retail LicenseCayman Water's new 25-year retail water license became effective August 1. It preserves the company's exclusive right to produce, distribute, and sell potable water within its licensed area in Grand Cayman, provides a long-term regulatory framework, retains the annual inflation index-based water rate adjustment mechanism, and provides meaningful savings to customers through rate reductions, subject to regulatory verification and approval.
- Strong Tourism Momentum in Grand CaymanStay-over arrivals exceeded 375,000 during the first nine months of 2026, up 11.3% from the same period last year. September arrivals increased 18.4%, marking the 11th consecutive month of year-over-year stay-over growth. The Department of Tourism attributed the year-to-date growth to stronger travel demand from the United States and Canada.
- Bulk Revenue Growth and Expanded Cat Island OperationsBulk revenue increased 20.8% to $10.1 million, principally due to higher energy pass-through charges at CW-Bahamas and, to a lesser extent, revenue from CW-Bahamas' two Cat Island plants. Both Cat Island desalination plants contributed to the quarter's results; the first was commissioned in January 2026 and the second in June 2026. Bulk gross profit increased.
- Strong Balance Sheet and LiquidityAs of September 30, cash and cash equivalents totaled $129.2 million, working capital was $145.1 million, and equity was $226.2 million. The balance sheet had no outstanding debt. The company said it continues to evaluate how to best utilize its ample cash to increase shareholder value.
- Florida Manufacturing Pipeline Supports 2027 OutlookIn addition to approximately $10.1 million of firm Florida municipal purchase orders, the company submitted bids for water equipment manufacturing projects valued at approximately $10 million that are expected to be decided and awarded in the fourth quarter of 2026. It is also tracking approximately $45 million in Florida municipal water projects expected to go to bid within the next six months. Management said this activity supports its outlook for a strong 2027 manufacturing business.
- Ongoing U.S. Operations and Maintenance PursuitThe company said it is pursuing operations and maintenance opportunities in California and Colorado, as well as longer-term opportunities in Arizona, where it believes it has the most competitive advantage.
- Long-Term Water Infrastructure OpportunityThe EPA's most recent drinking water infrastructure needs assessment identified $107 billion in U.S. treatment infrastructure needs over its 20-year planning horizon. Management noted that this is a broad national investment need, not the company's addressable market or committed spending, while citing the company's membrane equipment and filtration capabilities as ways to participate as projects move into procurement.
- Diversified Water Treatment CapabilitiesManagement highlighted the company's combination of desalination, water reuse, equipment manufacturing, design-build, and operating expertise, along with its diversified portfolio of recycling, seawater desalination, and packaged water desalination qualifications.
- Acquisition and Partnership InterestManagement said it is evaluating acquisition opportunities and remains interested in strategic acquisitions and partnerships that could accelerate growth. The CEO said some opportunities looked good and others did not, and expressed hope that the company could expand market share or diversify by customer type or geography in the future.
- Planned Capital Expenditures and Dividend PaymentProjected liquidity requirements for the balance of 2026 include approximately $1.5 million of capital expenditures for existing operations. The company also paid approximately $2.3 million in dividends in October 2026 and may have future quarterly dividend requirements as declared by the Board.
DE:CW2 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 31, 2027 | 2026 (Q4) | 0.12- | 0.17 | ― | ― |
| Nov 09, 2026 | 2026 (Q3) | 0.210.14 | 0.31 | -55.88% (-0.17) | |
| Aug 10, 2026 | 2026 (Q2) | 0.180.23 | 0.29 | -21.88% (-0.06) | |
| May 11, 2026 | 2026 (Q1) | 0.240.22 | 0.28 | -22.58% (-0.06) | |
| Mar 16, 2026 | 2025 (Q4) | 0.250.17 | 0.11 | 58.33% (+0.06) | |
| Nov 10, 2025 | 2025 (Q3) | 0.220.31 | 0.28 | 9.68% (+0.03) | |
| Aug 11, 2025 | 2025 (Q2) | 0.180.29 | 0.24 | 23.08% (+0.05) | |
| May 12, 2025 | 2025 (Q1) | 0.200.28 | 0.39 | -27.91% (-0.11) | |
| Mar 17, 2025 | 2024 (Q4) | 0.250.11 | 0.59 | -81.54% (-0.48) | |
| Nov 14, 2024 | 2024 (Q3) | 0.230.28 | 0.5 | -43.64% (-0.22) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
