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Consolidated Water Co. Ltd. (CWCO-0.45%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations in the Cayman Islands, The Bahamas, the United States, and the British Virgin Islands, focusing on water production, wastewater treatment, and water-related services.
Retail segment revenue increased to $31.7 million in 2024 from $30.2 million in 2023, attributed to a 4.5% increase in water volume sold.
Bulk segment revenue decreased slightly to $33.7 million from $34.6 million, with higher efficiency and lower energy costs offsetting reduced revenue.
The services segment saw a significant revenue decrease to $51.0 million from $98.0 million, primarily due to the completion of major construction contracts.
Manufacturing segment revenue remained stable at $17.6 million, with gross profit improving due to a higher margin product mix.
The company reported net income from continuing operations attributable to stockholders of $17.9 million, down from $30.7 million in the previous year.
The company's cash and cash equivalents increased to $99.4 million as of December 31, 2024, from $42.6 million at the end of 2023.
The filing notes ongoing negotiations with the Cayman Islands government for a new retail license, which could impact future revenue and cash flows.
Consolidated Water Co. Ltd. also reported a gain from discontinued operations related to a settlement agreement in Mexico, resulting in net income from discontinued operations of $10.4 million.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Consolidated Water Co. Ltd. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.