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Consolidated Water Co. Ltd. reports developments tied to its water utility, desalination, treatment, reuse, services and manufacturing businesses. The company develops and operates advanced water treatment plants and water distribution systems, including seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and water treatment and reuse facilities in the United States.
Recurring news includes segment operating results, quarterly cash dividends, investor conference activity, water infrastructure contract awards and updates on design, construction, management and operating services. Coverage also includes the company’s Cayman Islands retail utility operations, Caribbean bulk water supply activities, U.S. services work through subsidiaries such as PERC Water Corporation, and governance changes affecting the board and senior management.
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.
Consolidated Water Co. Ltd. (CWCO) has announced a quarterly cash dividend of $0.085 per share, set to be paid on January 31, 2022. Shareholders of record as of January 3, 2022 will be eligible to receive this dividend. The company operates advanced water supply and treatment facilities across multiple regions, including the Cayman Islands and the United States, emphasizing its role in providing critical water resources.
Consolidated Water Co. Ltd. (CWCO), a key player in advanced water supply and treatment, will present at the Bank of America 2021 Water Conference on December 6, 2021. CEO Rick McTaggart and CFO David Sasnett will discuss the company's third quarter 2021 results and future growth opportunities, including expansion in PERC Water's recurring revenue through additional contracts. They will also address the positive impact of the Cayman Islands' tourism reopening on retail water operations.
Consolidated Water Co. Ltd. (CWCO) reported Q3 2021 results with a 7% revenue decline to $16.4 million compared to Q3 2020. Retail revenue rose 5% to $5.2 million with a slight increase in sales volume, while bulk revenue increased 13% to $6.9 million. Year-to-date revenue reached $50.2 million, down 13% year-over-year. Net income from continuing operations decreased to $1.4 million, or $0.09 per share. The company highlights an expanding backlog and improved bidding activity for water treatment projects, anticipating growth catalysts in 2022.
Consolidated Water Co. Ltd. (CWCO) announced that its subsidiary, PERC Water Corporation, received the 'Outstanding Membrane Plant Award – Large Plant' from the Southwest Membrane Operator Association for the Albert Robles Center for Water Recycling & Environmental Learning. Additionally, PERC's lead operator, Steve Sato, won the 'Outstanding Operator Award - Large Plant.' The ARC facility, operational since 2019, purifies approximately 15 million gallons of water daily, addressing severe water shortages in California and Arizona. Consolidated Water acquired PERC in October 2019.
Consolidated Water Co. Ltd. (CWCO) is set to hold a conference call on November 16, 2021, at 11:00 a.m. Eastern time to discuss financial results for Q3 2021. The results will be released before the call. Participants can join via toll-free and international numbers. A replay will be available after the call and can also be accessed on the company's website until November 23, 2021. Consolidated Water develops and operates advanced water supply and treatment plants, serving markets including the Cayman Islands and the U.S.
Consolidated Water Co. Ltd. (CWCO) will present at the Janney Water Utilities Conference on September 14, 2021. CEO Rick McTaggart and CFO David Sasnett will hold one-on-one meetings with institutional analysts and investors to discuss the company's recent second quarter 2021 results and future growth opportunities. The subsidiary, PERC Water, has shown significant performance, especially in California and Arizona, focusing on cost-effective wastewater treatment solutions amid regional drought challenges.
Consolidated Water Co. Ltd. (CWCO) has declared a quarterly cash dividend of $0.085 per share, set to be paid on October 29, 2021. Shareholders of record must hold shares by the close of business on October 1, 2021. The company, which operates advanced water supply and treatment plants across the Cayman Islands, The Bahamas, British Virgin Islands, and the U.S., continues to strengthen its position in the water industry.
Consolidated Water reported a revenue decline of 13% in Q2 2021, totaling $16.7 million, driven by lower retail and manufacturing revenues. Retail revenue decreased by 5% to $5.7 million, while manufacturing plunged 85% due to a major customer's reduced orders. Conversely, bulk and services revenues rose, with bulk revenue increasing by 14.4% to $6.7 million. The company experienced a net loss of $1.5 million in Q2, compared to a net income of $2.6 million a year prior. As of June 30, 2021, cash reserves stood at $41.2 million, with a positive outlook for growth in the second half.
Consolidated Water Co. Ltd. (CWCO) announced a conference call on August 17, 2021, at 11:00 a.m. ET to discuss its financial results for the quarter ending June 30, 2021. Details of the call will be shared in a press release prior to the event. Participants can join using toll-free and international dial-in numbers. A replay will be available shortly after the call, lasting until August 24, 2021. Consolidated Water develops and operates water treatment and supply facilities in several regions, including the Caribbean and the U.S.