CWCO earnings analysis
What we found in CWCO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
The supplied 10-Q excerpt does not contain the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so current-quarter revenue, margins, EPS, cash flow, and working-capital trends cannot be assessed from the filing text provided. The principal disclosed concern is CW-Bahamas’ $18.8 million WSC receivable, of which approximately 64% was delinquent at June 30, 2026. Management also highlighted contract-cost estimation risk, while reporting no material change in market-risk exposure from December 31, 2025.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Market-risk exposure unchanged
- Management reported no material changes in exposure to market risk from December 31, 2025 through the end of the period covered by the report.
- Disclosure controls effective
- Management concluded that disclosure controls and procedures were effective at the reasonable-assurance level as of the end of the period covered by the report.
- Employee equity issuance disclosed
- The company issued 9,071 preferred shares to 130 employees for services rendered in June 2026; it also issued 82 preferred shares to 2 employees for cash at $25.13 per share.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Bahamas receivables remain delinquent
- CW-Bahamas had $18.8 million of accounts receivable, including accrued interest, due from the WSC as of June 30, 2026, and approximately 64% was delinquent. Management stated it cannot determine when or if the delinquent balance will be reduced, creating potential liquidity, revenue-recognition, and credit-loss risks.
- Contract cost overruns may compress margins
- The filing identifies a risk that construction, manufacturing, and operating costs may significantly exceed initial estimates. Contract profitability could be reduced because water-supply contracts may require guaranteed per-unit pricing while the company bears cost-overrun risk.
- Collection failure could impair results
- If CW-Bahamas cannot collect a significant portion of delinquent receivables, the subsidiary may lack sufficient liquidity, the company may cease recognizing revenue on WSC water-supply agreements, or it may need to materially increase its allowance for credit losses.
What they said about what is next.
The supplied 10-Q text does not include quantitative revenue or EPS guidance, nor an MD&A outlook. No material changes in market-risk exposure were reported from December 31, 2025 through the period end.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 11, 2026
- Consolidated Water Co. Ltd. reported a decrease in revenue to $29.97 million for Q1 2026, down from $33.72 million in Q1 2025. The gross margin fell slightly to 36%, and diluted EPS decreased to $0.24 compared to $0.31…
- 10-K · March 16, 2026
- Consolidated Water reports a broadly diversified water business with retail (26%), bulk (25%), services (35%) and manufacturing (14%) contributing to 2025 revenue. FY2025 revenue was roughly flat vs. 2024 at about…
- 10-Q · November 14, 2024
- Consolidated Water reported Q3 revenue of $33,390,557 and diluted EPS from continuing operations of $0.31. Revenue and continuing-operations net income fell materially versus Q3 2023 (revenue down from $49,854,075;…
- 10-Q · May 15, 2024
- Consolidated Water reported a strong quarter: revenue rose to $39,689,390 (Q1 2024) from $32,868,990 (Q1 2023) and gross profit increased to $13,878,023 (35% of revenue) from $10,559,082 (32%). Net income from…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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