Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

November 9, 2023

(Date of earliest event reported)

CONSOLIDATED WATER CO. LTD.

(Exact Name of Registrant as Specified in Charter)


Cayman Islands, B.W.I.	0-25248	98-0619652
(State or Other Jurisdiction of	(Commission File No.)	(IRS Employer Identification No.)
Incorporation)

Regatta Office Park

Windward Three, 4^th Floor

West Bay Road, P.O. Box 1114

Grand Cayman, KY1-1102

Cayman Islands

(Address of Principal Executive Offices)

(345) 945-4277

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, $0.60 par value	CWCO	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 9, 2023, Consolidated Water Co. Ltd. (the “Company”) issued a press release announcing its results of operations for the third quarter ended September 30, 2023. A copy of the press release is attached as Exhibit 99.1 to this report.

The information in this report, including the exhibit hereto, is being “furnished” in accordance with General Instruction B.2 of Form 8-K. As such, this information is not deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filings with the Securities and Exchange Commission unless it is explicitly so incorporated in such filings.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.		Title

99.1		Press release issued by the Company on November 9, 2023.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	CONSOLIDATED WATER CO. LTD.

	By:	/s/ David W. Sasnett
	Name:	David W. Sasnett
	Title:	Executive Vice President & Chief Financial Officer

Date: November 9, 2023

Consolidated Water Reports Third Quarter 2023 Revenue up 99% to $49.9 Million and Net Income of $8.6 Million or $0.54 per Diluted Share

GEORGE TOWN, Grand Cayman, Cayman Islands, November 9, 2023 -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of advanced water supply and treatment plants, reported results for the third quarter ended September 30, 2023. All comparisons are to the same prior year period unless otherwise noted.

The company will hold a conference call at 11:00 a.m. Eastern time tomorrow to discuss the results (see dial-in information below).

Third Quarter 2023 Financial Highlights

●

Total revenue increased 99% to $49.9 million.

●

Retail revenue increased 15% to $7.2 million.

●

Services revenue increased 237% to $29.4 million, with recurring services revenue generated from operations and maintenance contracts up 48% to $5.0 million.

●

Manufacturing revenue increased to $4.7 million.

●

Net income from continuing operations attributable to company stockholders was $8.8 million or $0.55 per diluted share, as compared to $0.8 million or $0.05 per diluted share in the same year-ago period.

●

Paid quarterly cash dividend of $0.085 per share ($0.34 on an annualized basis).

●

Cash and cash equivalents totaled $48.8 million and working capital was $83.1 million as of September 30, 2023.

Third Quarter 2023 Operational Highlights

●

Received notice to proceed on the first phase of a $204 million project to design, build, operate and maintain a seawater desalination plant in Hawaii which was announced in June.

●

Volume of water sold in the company’s Grand Cayman retail segment increased 16%, primarily due to the greater return of tourist activity.

●

Recognized $20.0 million in revenue from PERC Water’s progress on the construction of a $82 million water treatment plant in Goodyear, Arizona. This contract is expected to be substantially completed by the end of the second quarter of 2024.

●

PERC commenced operations under a new contract to operate a wastewater treatment plant at the Edwards Air Force Base in Kern County, California. The annual contract began in July and has four one-

year extensions exercisable by the customer. Revenue for the first year of the contract is expected to total approximately $1.3 million.

●

PERC also began operations under a new contract to operate a wastewater treatment system for the City of Avalon on Catalina Island, California. The engagement began in July and will continue for 18 months, with extensions exercisable by the city. Revenue for the first 18 months of the contract is estimated at approximately $2.1 million.

●

Rang the Nasdaq Opening Bell on August 14 in commemoration of the company’s founding in August 1973 by a group of visionary Caymanian and international investors and to celebrate 50 years of delivering world-class water services.

Dividend Increase

In August 2023, the company increased its dividend by 11.8% and declared a dividend of $0.095 per common share for the fourth quarter of 2023. The dividend was paid on October 31, 2023 to stockholders of record as of October 2, 2023.

Management Commentary

“In Q3, we reported another solid quarter of results for both revenue and earnings,” stated Consolidated Water CEO, Rick McTaggart. “The nearly 100% increase in revenue to $49.9 million was due to strong growth across our services, retail water, and manufacturing business segments.

“Retail benefited from a 16% increase in the volume of water sold in Grand Cayman, with this reflecting the improved tourist activity over last year which had been below historical levels due to the lingering impact of the pandemic. The recent increase in the number of new flight options to Grand Cayman being added by major airlines indicates another strong tourist season ahead.

“The $20.7 million or 237% increase in services revenue was primarily generated by the progress our PERC Water subsidiary has made on the construction of an $82 million advanced water treatment plant in Arizona. Construction remains on schedule, and we anticipate generating additional revenue from the project until its substantial completion in the second quarter of 2024.

“Progress in the design and construction of the new Red Gate desalination plant on Grand Cayman also contributed to the increase in services segment revenue. In the U.S., we commenced work on the contract to design, build, operate and maintain a 1.7 MGD seawater desalin ation plant in Oahu, Hawaii, which we announced in June. We anticipate revenue generated over the approximate 24-year base term of the contract to total about $204 million in current dollars. The plant will be the 24th seawater reverse osmosis desalination plant that Consolidated Water has constructed and the first in the U.S.

“We believe this entrance into the U.S. desalination market positions us well for other opportunities in the Western U.S., a region that continues to experience unprecedented drought conditions, combined with growing populations. According to U.S. Drought Monitor, more than 22% of the Western U.S. has been experiencing drought conditions, with this worsening by more than 51% since October of last year.

“PERC’s continued strong operating performance and revenue growth has continued to significantly improve our top and bottom line. Its strong operational presence in the Southwestern U.S. — a region that

urgently needs new fresh water sources due to the unprecedented drought conditions — has set the stage for further growth and development in this important segment of our business.

“We expanded our footprint in the U.S. with our recently announced acquisition by PERC of Ramey Environmental Compliance (REC). REC operates and maintains water and wastewater treatment plants and provides technical services—very similar to PERC’s O&M business—and they bring to us more than 100 clients in the Rocky Mountain and Eastern Plains regions of Colorado.

“In addition to strong synergies in culture and mission, REC expands our operational presence to a new growth area in the Western U.S. We anticipate that our greater financial resources and additional management expertise will help REC qualify for larger and potentially more complex O&M contracts in its home market. The acquisition also creates an important new selling channel for PERC’s unique approach to design-build projects in the growing Colorado market.

“Looking ahead, we continue to remain optimistic about our future growth prospects. We are encouraged by the continued recovery of tourism to Grand Cayman, and our progress on the several large construction projects underway. We believe our continued efforts and successes, combined with the positive trends and increased bidding activity in our markets, represent strong drivers for continued growth, increased profitability, and further strengthening of shareholder value.”

Third Quarter 2023 Financial Summary

Revenue for the third quarter of 2023 totaled $49.9 million, up 99% compared to $25.1 million in the same year-ago period. The increase was driven by increases of $0.9 million in the retail segment, $20.7 million in the services segment and $3.3 million in the manufacturing segment.

Retail revenue increased primarily due to a 16% increase in the volume of water sold, as well as the result of higher energy costs that increased the energy pass-through component of the company’s water rates and a more favorable rate mix.

The increase was partially offset by a decrease of $179,000 in the bulk segment, primarily due to a decrease in the price of energy for CW-Bahamas that decreased the energy pass-through component of rates. The decrease in bulk segment revenue was partially offset by a 6% increase in CW-Bahamas’ volume of water sold.

The increase in services segment revenue was due to an increase in plant construction revenue. The company recognized approximately $20.0 million in revenue in the third quarter of 2023 for the construction of a water treatment plant in Goodyear, Arizona. Revenue generated under operations and maintenance contracts totaled $5.0 million in the third quarter of 2023, up 48% as compared to $3.4 million in the same year-ago period.

The increase in manufacturing segment revenue was due to increased production activity.

Gross profit for the third quarter of 2023 was $16.6 million or 33.3% of total revenue, up 143% from $6.8 million or 27.3% of total revenue for the same year-ago period.

Net income from continuing operations attributable to stockholders for the third quarter of 2023 was $8.8 million or $0.55 per diluted share, compared to net income of $0.8 million or $0.05 per diluted share for the same year-ago period.

Net income attributable to Consolidated Water stockholders for the third quarter of 2023, which includes the results of discontinued operations, was $8.6 million or $0.54 per diluted share, up from a net income of $0.3 million or $0.02 per diluted share for the same year-ago period.

Cash and cash equivalents totaled $48.8 million as of September 30, 2023, as compared to $47.7 million as of June 30, 2023, with working capital at $83.1 million, debt of $0.2 million, and stockholders’ equity totaling $178.0 million.

First Nine Months 2023 Financial Summary

Revenue for the first nine months of 2023 was $127.0 million, up 93% compared to $65.7 million in the same year-ago period. The increase was primarily driven by increases of $3.4 million in the retail segment, $1.5 million in the bulk segment, $47.7 million in the services segment and $8.6 million in the manufacturing segment.

Retail revenue increased primarily due to a 17% increase in the volume of water sold. The volume of water sold in the Cayman Water license area increased by 15% and the remaining 2% increase in the volume of water sold was due to water sales made by Cayman Water directly to the WAC in January and February of 2023.

The retail revenue increased also as a result of higher energy costs that increased the energy pass-through component of the company’s retail water rates, as well as a more favorable rate mix.

The increase in bulk segment revenue was due to an increase of 8% in the volume of water sold by CW-Bahamas.

The increase in services segment revenue was due to an increase in plant construction revenue. The company recognized approximately $44.1 million in revenue for the construction of a water treatment plant in Goodyear, Arizona in the first nine months of 2023. Revenue generated under operations and maintenance contracts totaled $12.8 million in the first nine months of 2023, up 19% as compared to $10.7 million in the same year-ago period.

The increase in manufacturing segment revenue was due to higher project activity.

Gross profit for the first nine months of 2023 was $42.6 million or 33.6% of total revenue, up 99% from $21.5 million or 32.7% of total revenue in the same year-ago period.

Net income from continuing operations attributable to stockholders for the first nine months of 2023 was $20.4 million or $1.28 per diluted share, compared to net income of $5.9 million or $0.38 per diluted share in the same year-ago period.

Net income attributable to Consolidated Water stockholders for the nine months of 2023, which includes the results of discontinued operations, was $19.7 million or $1.24 per diluted share, up from net income of $4.3 million or $0.28 per diluted share in the same year-ago period.

Third Quarter Segment Results


	Three Months Ended September 30, 2023
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	7,216,574	$	8,488,615	$	29,427,664	$	4,721,222	$	49,854,075
Cost of revenue		3,371,891		5,835,837		20,174,645		3,857,274		33,239,647
Gross profit		3,844,683		2,652,778		9,253,019		863,948		16,614,428
General and administrative expenses		4,225,825		347,668		861,835		437,162		5,872,490
Income (loss) from operations	$	(381,142)	$	2,305,110	$	8,391,184	$	426,786		10,741,938
Other income, net										236,066
Income before income taxes										10,978,004
Provision for income taxes										1,976,453
Net income from continuing operations										9,001,551
Income from continuing operations attributable to non-controlling interests										163,428
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										8,838,123
Net loss from discontinued operations										(232,994)
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	8,605,129


	Three Months Ended September 30, 2022
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	6,274,650	$	8,667,931	$	8,731,124	$	1,378,000	$	25,051,705
Cost of revenue		3,231,973		6,446,549		7,333,982		1,195,428		18,207,932
Gross profit		3,042,677		2,221,382		1,397,142		182,572		6,843,773
General and administrative expenses		3,818,459		473,534		936,708		381,949		5,610,650
Gain on asset dispositions and impairments, net		1,499		2,000		—		—		3,499
Income (loss) from operations	$	(774,283)	$	1,749,848	$	460,434	$	(199,377)		1,236,622
Other expense, net										(168,980)
Income before income taxes										1,067,642
Provision for income taxes										26,616
Net income from continuing operations										1,041,026
Income attributable to non-controlling interests										217,415
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										823,611
Net loss from discontinued operations										(505,917)
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	317,694

First Nine Months Segment Results


	Nine Months Ended September 30, 2023
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	22,560,998	$	25,975,483	$	66,243,328	$	12,180,519	$	126,960,328
Cost of revenue		10,355,817		18,010,718		46,466,864		9,489,870		84,323,269
Gross profit		12,205,181		7,964,765		19,776,464		2,690,649		42,637,059
General and administrative expenses		12,668,467		1,080,543		2,855,067		1,289,990		17,894,067
Gain (loss) on asset dispositions and impairments, net		(7,287)		12,270		—		1,933		6,916
Income (loss) from operations	$	(470,573)	$	6,896,492	$	16,921,397	$	1,402,592		24,749,908
Other income, net										522,256
Income before income taxes										25,272,164
Provision for income taxes										4,366,005
Net income from continuing operations										20,906,159
Income from continuing operations attributable to non-controlling interests										463,775
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										20,442,384
Net loss from discontinued operations										(699,858)
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	19,742,526


	Nine Months Ended September 30, 2022
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	19,114,653	$	24,442,324	$	18,530,427	$	3,589,333	$	65,676,737
Cost of revenue		9,404,124		16,781,251		14,849,029		3,177,299		44,211,703
Gross profit		9,710,529		7,661,073		3,681,398		412,034		21,465,034
General and administrative expenses		10,613,975		1,187,909		2,554,721		1,046,853		15,403,458
Gain on asset dispositions and impairments, net		2,699		2,000		16,538		—		21,237
Income (loss) from operations	$	(900,747)	$	6,475,164	$	1,143,215	$	(634,819)		6,082,813
Other income, net										548,729
Income before income taxes										6,631,542
Provision for income taxes										83,041
Net income from continuing operations										6,548,501
Income from continuing operations attributable to non-controlling interests										691,042
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										5,857,459
Net loss from discontinued operations										(1,533,064)
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	4,324,395

Conference Call

Consolidated Water management will host a conference call tomorrow to discuss these results, which will include a question-and-answer period.

Date: Friday, November 10, 2023

Time: 11:00 a.m. Eastern time (8:00 a.m. Pacific time)

Toll-free dial-in number: 1-844-875-6913

International dial-in number: 1-412-317-6709

Conference ID: 6524542

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you require any assistance connecting with the call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 1:00 p.m. Eastern time on the same day through November 17, 2023, as well as available for replay via the Investors section of the Consolidated Water website at www.cwco.com.

Toll-free replay number: 1-877-344-7529

International replay number: 1-412-317-0088

Replay ID: 6524542

About Consolidated Water Co. Ltd.

Consolidated Water Co. Ltd. develops and operates advanced water supply and treatment plants and water distribution systems. The company designs, builds and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and designs, builds and operates water treatment and reuse facilities in the United States. The company recently entered the U.S. desalination market with a contract to design, build, operate and maintain a seawater desalination plant in Hawaii.

The company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment. For more information, visit www.cwco.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect", "should", "will" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to (i) continued acceptance of the company's products and services in the marketplace; (ii) changes in its relationships with the governments of the jurisdictions in which it operates; (iii) the outcome of its negotiations with the Cayman government regarding a new retail license agreement; (iv) the collection of its delinquent accounts receivable in the Bahamas; and (v) various other risks, as detailed in the company's periodic report filings with the Securities and Exchange Commission (“SEC”). For more information about risks and uncertainties associated with the company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the company’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting the company’s Secretary at the company’s executive offices or at the “Investors – SEC Filings” page of the company’s website at http://ir.cwco.com/docs. Except as otherwise required by law, the company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact:
David W. Sasnett
Executive Vice President and CFO
Tel (954) 509-8200
Email Contact

Investor Relations Contact
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
Email Contact

Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact

CONSOLIDATED WATER CO. LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS


		September 30,		December 31,
		2023		2022
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	48,845,606	$	50,711,751
Accounts receivable, net		38,114,847		27,046,182
Inventory		7,915,456		5,727,842
Prepaid expenses and other current assets		5,430,079		5,643,279
Contract assets		8,972,740		2,913,722
Current assets of discontinued operations		298,591		531,480
Total current assets		109,577,319		92,574,256
Property, plant and equipment, net		50,063,524		52,529,545
Construction in progress		6,446,049		3,705,681
Inventory, noncurrent		5,048,222		4,550,987
Investment in OC-BVI		1,388,917		1,545,430
Goodwill		10,425,013		10,425,013
Intangible assets, net		2,408,888		2,818,888
Operating lease right-of-use assets		1,720,637		2,058,384
Other assets		3,389,634		1,669,377
Long-term assets of discontinued operations		21,129,288		21,129,288
Total assets	$	211,597,491	$	193,006,849

LIABILITIES AND EQUITY
Current liabilities
Accounts payable, accrued expenses and other current liabilities	$	11,436,484	$	8,438,315
Accounts payable - related parties		—		403,839
Accrued compensation		2,697,033		2,267,583
Dividends payable		1,570,319		1,375,403
Current maturities of operating leases		471,506		546,851
Current portion of long-term debt		114,964		114,964
Contract liabilities		9,528,749		8,803,921
Deferred revenue		391,558		315,825
Current liabilities of discontinued operations		259,853		389,884
Total current liabilities		26,470,466		22,656,585
Long-term debt, noncurrent		133,770		216,117
Deferred tax liabilities		466,285		560,306
Noncurrent operating leases		1,481,005		1,590,542
Other liabilities		153,000		219,110
Total liabilities		28,704,526		25,242,660
Commitments and contingencies
Equity
Consolidated Water Co. Ltd. stockholders' equity
Redeemable preferred stock, $0.60 par value. Authorized 200,000 shares; issued and outstanding 45,209 and 34,383 shares, respectively		27,125		20,630
Class A common stock, $0.60 par value. Authorized 24,655,000 shares; issued and outstanding 15,746,552 and 15,322,875 shares, respectively		9,447,931		9,193,725
Class B common stock, $0.60 par value. Authorized 145,000 shares; none issued		—		—
Additional paid-in capital		91,716,763		89,205,159
Retained earnings		76,807,700		61,247,699
Total Consolidated Water Co. Ltd. stockholders' equity		177,999,519		159,667,213
Non-controlling interests		4,893,446		8,096,976
Total equity		182,892,965		167,764,189
Total liabilities and equity	$	211,597,491	$	193,006,849

CONSOLIDATED WATER CO. LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenue	$	49,854,075	$	25,051,705	$	126,960,328	$	65,676,737
Cost of revenue (including related party expense of $0 and $685,481 for the three months ended, and $0 and $2,165,850 for the nine months ended, September 30, 2023 and 2022, respectively)		33,239,647		18,207,932		84,323,269		44,211,703
Gross profit		16,614,428		6,843,773		42,637,059		21,465,034
General and administrative expenses (including related party expense of $0 and $24,231 for the three months ended, and $0 and $72,693 for the nine months ended, September 30, 2023 and 2022, respectively)		5,872,490		5,610,650		17,894,067		15,403,458
Gain on asset dispositions and impairments, net		—		3,499		6,916		21,237
Income from operations		10,741,938		1,236,622		24,749,908		6,082,813

Other income (expense):
Interest income		196,567		56,701		396,348		348,304
Interest expense		(34,020)		(2,042)		(108,111)		(8,847)
Profit-sharing income from OC-BVI		12,150		6,075		38,475		24,300
Equity in the earnings of OC-BVI		37,182		19,921		108,012		71,238
Net gain (loss) on put/call options		—		(247,000)		—		29,000
Other		24,187		(2,635)		87,532		84,734
Other income (expense), net		236,066		(168,980)		522,256		548,729
Income before income taxes		10,978,004		1,067,642		25,272,164		6,631,542
Provision for income taxes		1,976,453		26,616		4,366,005		83,041
Net income from continuing operations		9,001,551		1,041,026		20,906,159		6,548,501
Income from continuing operations attributable to non-controlling interests		163,428		217,415		463,775		691,042
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders		8,838,123		823,611		20,442,384		5,857,459
Total loss from discontinued operations		(232,994)		(505,917)		(699,858)		(1,533,064)
Net income attributable to Consolidated Water Co. Ltd. stockholders	$	8,605,129	$	317,694	$	19,742,526	$	4,324,395

Basic earnings (loss) per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$	0.56	$	0.05	$	1.30	$	0.38
Discontinued operations		(0.01)		(0.03)		(0.05)		(0.10)
Basic earnings per share	$	0.55	$	0.02	$	1.25	$	0.28

Diluted earnings (loss) per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$	0.55	$	0.05	$	1.28	$	0.38
Discontinued operations		(0.01)		(0.03)		(0.04)		(0.10)
Diluted earnings per share	$	0.54	$	0.02	$	1.24	$	0.28

Dividends declared per common and redeemable preferred shares	$	0.095	$	0.085	$	0.265	$	0.255

Weighted average number of common shares used in the determination of:
Basic earnings per share		15,742,854		15,290,597		15,734,234		15,287,233
Diluted earnings per share		15,928,604		15,450,276		15,909,725		15,440,261

Document and Entity Information	Nov. 09, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Nov. 09, 2023
Securities Act File Number	0-25248
Entity Registrant Name	CONSOLIDATED WATER CO. LTD.
Entity Incorporation, State or Country Code	KY
Entity Tax Identification Number	98-0619652
Entity Address, Address Line One	Regatta Office Park
Entity Address, Address Line Two	Windward Three, 4th Floor
Entity Address, Address Line Three	West Bay Road, P.O. Box 1114
Entity Address, City or Town	Grand Cayman
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	KY1-1102
City Area Code	345
Local Phone Number	945-4277
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A common stock, $0.60 par value
Trading Symbol	CWCO
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000928340
Amendment Flag	false

N-2	Nov. 09, 2023
Cover [Abstract]
Entity Central Index Key	0000928340
Amendment Flag	false
Securities Act File Number	0-25248
Document Type	8-K
Entity Registrant Name	CONSOLIDATED WATER CO. LTD.
Entity Address, Address Line One	Regatta Office Park
Entity Address, Address Line Two	Windward Three, 4th Floor
Entity Address, Address Line Three	West Bay Road, P.O. Box 1114
Entity Address, City or Town	Grand Cayman
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	KY1-1102
City Area Code	345
Local Phone Number	945-4277
Entity Emerging Growth Company	false