Consolidated Water Co. Ltd. (NASDAQ:CWCO) Q4 2024 Earnings Conference Call March 18, 2025 11:00 AM ET
Company Participants
Rick McTaggart – CEO
David Sasnett – CFO
Operator
Good morning. Thank you for joining us today to discuss the results for Consolidated Water’s 2024 Full Year Operating and Financial Results. Hosting the call today is the Chief Executive Officer of Consolidated Water Company, Rick McTaggart; and the company’s Chief Financial Officer, David Sasnett. Following their remarks, we will open the call to your questions. [Operator Instructions]
Before we conclude today’s call, I’ll provide some important cautions regarding the forward-looking statements made by management during the call. I’d like to remind everyone that today’s call is being recorded, and it will be made available for telecom replay per the instructions in yesterday’s press release, which is available in the Investor Relations section of the company’s website.
Now, I’d like to turn the call over to Consolidated Water Company’s CEO, Rick McTaggart. Sir, please go ahead.
Rick McTaggart
Thank you, Nick, and good morning, everyone. Our revenue and operating income in 2024 from continuing operations were consistent with our expectations given that two of our major design build projects were completed early in the year. We also saw improvement in profitability across our retail and manufacturing segments, which we expected. Our strong retail water sales and our exclusive utility service area in Grand Cayman reflected a record volume of water sold to a record number of customers. This growth was primarily due to the ongoing growth in population and business activity on the island.
Our bulk segment revenue and gross profit was relatively consistent from the previous year, while revenues from our Bahamas business declined due to reduced energy pass-through charges to our client, which also reduced our costs. Revenue from our new operations and maintenance
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