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Consolidated Water (NASDAQ:CWCO) inventory fell ~16% on Tuesday after the corporate’s Q3 outcomes.
Internet revenue from persevering with operations attributable to consolidated Water stockholders declined to $823.6K, in comparison with $1.36M in Q3 2021.
Income grew +52.63% Y/Y to $25.05M.
Retail income elevated +20% Y/Y to $6.3M, whereas Bulk income elevated 26% Y/Y to $8.7M. Companies income grew 172% Y/Y to $8.7M.
“Nonetheless, sure larger G&A bills final quarter affected web revenue, together with worker bonus accruals ensuing from our strengthened monetary efficiency, larger salaries because of cost-of-living will increase that got earlier this yr, and financial institution charges associated to the switch of our earnings from our Bahamas subsidiary,” stated Consolidated Water CEO Rick McTaggart.
Outlook:
McTaggart added that, “We count on that the greater than $150 million in main multi-year tasks that we secured this yr could have a higher constructive affect to our earnings in future quarters, whereas supporting our outlook for continued progress in our providers phase.”
As of Sept. 30, money and money equivalents have been $51.1M, in comparison with $49.1M as of June 30.
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