Consolidated Water Reports Q3 Revenue Decline Amid Construction Delays and $150M Unrecognized Backlog
Consolidated Water (CWCO) reported a decline in third-quarter revenue, as decreases in construction, operations and maintenance (O&M), and manufacturing segments outweighed growth in retail and bulk water sectors. CEO Frederick McTaggart attributed the quarterly performance to these shifting revenue streams within the company's diverse portfolio. Despite the immediate revenue dip, the company maintains a significant unrecognized backlog exceeding $150 million. Looking ahead, management highlighted progress in their retail license manufacturing order book and projected that construction activities for projects in Hawaii are slated to commence in the first half of 2027.
Tickers: $CWCO
Topics: management commentary quarterly earnings revenue decline