Consolidated Water Reports Q3 2024 Results

TL;DR

CWCO Q3 revenue up slightly to $158.3M YTD. Water utility stable.

AI Summary

Consolidated Water Co. Ltd. reported its third-quarter 2024 results, with total revenue for the nine months ended September 30, 2024, reaching $158.3 million, an increase from $157.7 million in the same period of 2023. The company's operations are primarily in the water supply sector, with its principal executive offices located in Grand Cayman, Cayman Islands.

Why It Matters

This filing provides insight into the financial performance of Consolidated Water Co. Ltd., a key utility provider in its operating regions, impacting investors and customers.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report for a stable utility company with no immediate red flags.

Key Numbers

• $158.3M — Revenue (9 months ended 09/30/2024) (Represents year-to-date revenue performance.)
• $157.7M — Revenue (9 months ended 09/30/2023) (Represents prior year-to-date revenue for comparison.)

Key Players & Entities

• Consolidated Water Co. Ltd. (company) — Filer and subject of the report
• 20240930 (date) — End of the reporting period
• $158.3 million (dollar_amount) — Total revenue for the nine months ended September 30, 2024
• $157.7 million (dollar_amount) — Total revenue for the nine months ended September 30, 2023
• Grand Cayman, Cayman Islands (location) — Location of principal executive offices

FAQ

Key Financial Figures

• $0.60 — hich registered Class A Common Stock , $0.60 par value CWCO The Nasdaq Global Se
• $ — n of Cayman Island dollars (CI$) into US$, as determined by the Cayman Islands Mo
• $1.20 — y, has been fixed since April 1974 at US$1.20 per CI$1.00. The exchange rate for con
• $1.00 — fixed since April 1974 at US$1.20 per CI$1.00. The exchange rate for conversion of B

Filing Documents

• cwco-20240930x10q.htm (10-Q) — 1873KB
• cwco-20240930xex31d1.htm (EX-31.1) — 11KB
• cwco-20240930xex31d2.htm (EX-31.2) — 11KB
• cwco-20240930xex32d1.htm (EX-32.1) — 6KB
• cwco-20240930xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-015710.txt ( ) — 8376KB
• cwco-20240930.xsd (EX-101.SCH) — 42KB
• cwco-20240930_cal.xml (EX-101.CAL) — 69KB
• cwco-20240930_def.xml (EX-101.DEF) — 188KB
• cwco-20240930_lab.xml (EX-101.LAB) — 316KB
• cwco-20240930_pre.xml (EX-101.PRE) — 284KB
• cwco-20240930x10q_htm.xml (XML) — 1877KB

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Income (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4

Controls and Procedures

Controls and Procedures 37 PART II OTHER INFORMATION 38 Item 1A

Risk Factors

Risk Factors 38 Ite m 2 Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5 Other Information 40 Item 6 Exhibits 40

SIGNATURES

SIGNATURES 41 2 Table of Contents Note Regarding Currency and Exchange Rates Unless otherwise indicated, all references to "

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CONSOLIDATED WATER CO. LTD. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 104,869,627 $ 42,621,898 Accounts receivable, net 37,199,621 38,226,891 Inventory 3,928,851 6,044,642 Prepaid expenses and other current assets 5,675,517 4,056,370 Contract assets 1,958,361 21,553,057 Current assets of discontinued operations 314,847 211,517 Total current assets 153,946,824 112,714,375 Property, plant and equipment, net 53,203,218 55,882,521 Construction in progress 2,799,135 495,471 Inventory, noncurrent 5,180,540 5,045,771 Investment in OC-BVI 1,384,891 1,412,158 Goodwill 12,861,404 12,861,404 Intangible assets, net 2,860,907 3,353,185 Operating lease right-of-use assets 3,328,936 2,135,446 Other assets 2,801,873 3,407,973 Long-term assets of discontinued operations — 21,129,288 Total assets $ 238,367,728 $ 218,437,592 LIABILITIES AND EQUITY Current liabilities Accounts payable, accrued expenses and other current liabilities $ 7,108,726 $ 11,604,369 Accrued compensation 3,747,516 3,160,030 Dividends payable 1,803,926 1,572,655 Current maturities of operating leases 633,971 456,865 Current portion of long-term debt 151,276 192,034 Contract liabilities 6,018,720 6,237,011 Deferred revenue 170,551 317,017 Current liabilities of discontinued operations 451,839 364,665 Total current liabilities 20,086,525 23,904,646 Long-term debt, noncurrent 91,561 191,190 Deferred tax liabilities 227,253 530,780 Noncurrent operating leases 2,784,742 1,827,302 Other liabilities 153,000 153,000 Deferred revenue 38,424 — Total liabilities 23,381,505 26,606,918 Commitments and contingencies Equity Consolidated Water Co. Ltd. stockholders' equity Redeemable preferred stock, $ 0.60 par valu

View Full Filing

View this 10-Q filing on SEC EDGAR