Overview
Consolidated Water Q2 revenue rises 3% to $33.6 mln, beating analyst expectations, per LSEG data
Net income from continuing operations increases to $5.2 mln, $0.32/share
Co raises quarterly dividend 27.3% to $0.14/share
Outlook
Company expects to start Hawaii desalination plant construction early next year
Company expects continued growth in manufacturing segment due to nuclear industry demand
Result Drivers
RETAIL GROWTH - Retail revenue increased 6% due to higher water sales volumes from less rainfall and population growth
MANUFACTURING BOOST - Manufacturing revenue rose 33%, driven by demand for water purification equipment for the nuclear industry
SERVICES DECLINE - Services revenue decreased 4% due to lower construction activity, particularly in Hawaii
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$33.60 mln
$32.80 mln (2 Analysts)
Q2 Net Income from Cont Ops
$5.20 mln
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the water & related utilities peer group is "buy."
Wall Street's median 12-month price target for Consolidated Water Co Ltd is $38.50, about 23.9% above its August 8 closing price of $29.29
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago
Press Release: ID:nGNX5fX77w
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)