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

August 14, 2024

(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 August 14, 2024, Consolidated Water Co. Ltd. (the “Company”) issued a press release announcing its results of operations for the second quarter ended June 30, 2024. 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 August 14, 2024.
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: August 15, 2024

‌Exhibit 99.1

Exhibit 99.1

Consolidated Water Reports Second Quarter 2024 Operating Results

GEORGE TOWN, Grand Cayman, Cayman Islands, August 14, 2024 -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading designer, builder and operator of advanced water supply and treatment plants, reported results for the second quarter ended June 30, 2024. All comparisons are to the same prior year period unless otherwise noted.

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

Second Quarter 2024 Financial Key Points

●

Total revenue declined 27% to $32.5 million.

●

Retail revenue increased 8% to $8.2 million on higher sales volumes.

●

Bulk revenue was relatively consistent at $8.4 million.

●

Manufacturing revenue was relatively consistent at $3.9 million.

●

Services revenue declined by 51% (or approximately $12.2 million) to $11.9 million due to a $16.5 million decline in construction revenue that was partially offset by an approximately $3 million increase in recurring operations and maintenance revenue.

●

Net income from continuing operations attributable to company stockholders totaled $4.2 million or $0.26 per diluted share, compared to $7.5 million or $0.47 per diluted share in the second quarter of 2023.

●

Net income including discontinued operations attributable to company stockholders totaled $15.9 million or $0.99 per diluted share, compared to $7.3 million or $0.46 per diluted share in the second quarter of 2023.

●

Cash and cash equivalents totaled $96.7 million and working capital was $131.2 million as of June 30, 2024.

Second Quarter 2024 Operational Key Points

●

Volume of retail water sold in the company’s utility service area in Grand Cayman increased 10% compared with the same period in 2023.

●

Completed the construction and commissioning of the new 2.6 million gallon per day Red Gate desalination plant for the Water Authority of the Cayman Islands. Began operating the facility under a 10-year operations and maintenance agreement.

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●

Continued piloting, design and permitting of a $147 million project to design, construct, operate and maintain a seawater desalination plant for the Board of Water Supply of Honolulu, Hawaii.

●

Recognized $1.9 million in operations and maintenance revenue from REC which Consolidated Water acquired in October 2023 to provide a new channel for expansion in water-stressed regions of Colorado.

●

Settled a dispute with Mexico involving the discontinued desalination project in Playas de Rosarito, Mexico and recognized a gain of $12.1 million from the sale of the project land and project documentation.

●

Received Notice to Proceed under a new 15-year agreement with the Water and Sewerage Corporation of the Bahamas to design, build, own, operate and finance two seawater desalination plants on Cat Island in the Bahamas.

Management Commentary

“Our second quarter results were fairly positive, especially considering the inherent variability in our service segment revenue and earnings due to the timing of our large design-build projects in Grand Cayman, Arizona and Hawaii,” stated company CEO, Rick McTaggart. “Our services revenue was down by about half due to the anticipated reduction in construction-related revenue as the Grand Cayman and Arizona projects were completed earlier this year.

“Meanwhile, development activities continue to ramp up on the $147 million project to design, construct, operate and maintain a seawater desalination plant for the Board of Water Supply of Honolulu in Hawaii that we announced in June of last year. We are currently in the piloting, design and permitting stage, which we expect will lead into the full construction stage late next year.

“The completion of the Hawaii project plant encompasses the current two-year development phase followed by a two-year construction phase. After construction and commissioning, we will operate the plant under a 20-year operations and maintenance agreement which has two additional 5-year extensions exercisable at the client’s discretion.

“The reduction in construction-related revenue in the second quarter was partially offset by an increase in the revenue generated from operations and maintenance contracts by both PERC and REC. We acquired REC last October to provide a new channel for growth in the water-stressed regions of Colorado, and we’ve been pleased with REC’s integration into our company and the new opportunities we see developing in Colorado. Similar to our acquisition of PERC, we anticipate that our greater financial and management resources will enable REC to pursue larger projects that will accelerate REC’s growth over time.

“Looking ahead to the remainder of the year and beyond, we remain very excited about our prospects. Many positive factors—including the consistent strong water sales growth in Grand Cayman, the long-term recurring revenues from our Caribbean-based bulk water and U.S.-based O&M businesses, stabilized manufacturing revenue and earnings, and the anticipated revenue and earnings from our $147 million design-build-operate project in Hawaii—altogether provide a very solid base for the company in the coming years.

“Supported by our exceptionally strong balance sheet, we will continue to invest in new long-term projects such as two desalination plants on Cat Island in the Bahamas, as well as new infrastructure to serve the

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growing water needs of our utility customer in the Cayman Islands. We see these projects ultimately enhancing revenue growth.

“The market for design-build projects is also showing no sign of slowing. While we are currently in a period between two large projects, we believe our efficient and aesthetically pleasing plant designs, our cost-efficient project delivery models and our significant industry experience will help us secure new projects.

“In fact, we recently signed master design-build service agreements with two major national clients for a number of projects they are contemplating. We anticipate this will positively impact revenue and earnings in future periods. Combined with strong industry tailwinds, we anticipate that all of these factors will drive our long-term growth, enhance profitability, and further strengthen shareholder value.”

Second Quarter 2024 Financial Summary

Revenue totaled $32.5 million, declining 27% from $44.2 million in the second quarter of 2023. The decrease was primarily due to decreases of $35,000 in the bulk segment, $12.2 million in the services segment and $161,000 in the manufacturing segment. The decreases were partially offset by an increase of $609,000 in the retail segment.

Retail revenue increased primarily due to a 10% increase in the volume of water sold. The volume of water sold increased due to a 5.5% increase in the number of customer accounts in the company’s license area from June 30, 2023 to June 30, 2024. The increase was also due to significantly less rainfall on Grand Cayman in April and May of 2024 as compared to the same months a year ago.

The marginal decrease in bulk segment revenue was due to lower energy costs, which decreased the energy pass-through component of the company’s bulk water rates.

The decrease in services segment revenue was primarily due to plant construction revenue decreasing from $19.8 million in 2023 to $3.3 million in 2024 as the result of two construction projects nearing completion during the quarter. Revenue generated under operations and maintenance contracts totaled $7.1 million in the second quarter of 2024, an increase of 75% from the second quarter of 2023. Newly acquired REC contributed $1.9 million of the increase, with the remainder related to PERC contracts.

Manufacturing segment revenue was relatively consistent at $3.9 million as compared to $4.1 million in the second quarter of 2023.

Gross profit for the second quarter of 2024 was $11.6 million (36% of total revenue), as compared to $15.5 million (35% of total revenue) in the second quarter of 2023.

Net income from continuing operations attributable to Consolidated Water stockholders for the second quarter of 2024 was $4.2 million or $0.26 per diluted share, compared to net income of $7.5 million or $0.47 per diluted share in the second quarter of 2023.

Including discontinued operations, net income attributable to Consolidated Water stockholders for the second quarter of 2024 was $15.9 million or $0.99 per diluted share, up from net income of $7.3 million or $0.46 per diluted share in the second quarter of 2023. The increase was primarily due to the gain on sale of

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the land and documentation related to a discontinued project in Mexico totaling $12.1 million in the second quarter of 2024.

Cash and cash equivalents totaled $96.7 million as of June 30, 2024, with working capital of $131.2 million, debt of $0.3 million, and stockholders’ equity of $206.7 million.

First Half 2024 Financial Summary

Revenue for the first half of 2024 was $72.2 million, down 6% compared to $77.1 million in the same year-ago period. The decrease was primarily driven by decreases of $0.7 million in the bulk segment and $7.5 million in the services segment. The decreases were partially offset by increases of $1.5 million in the retail segment and $1.8 million in the manufacturing segment.

Retail revenue increased primarily due to an 8% increase in the volume of water sold. The volume of water sold increased due to a 5.5% increase in the number of customer accounts in the company’s license area from June 30, 2023 to June 30, 2024.

The retail revenue increased also as a result of significantly less rainfall on Grand Cayman in April and May of 2024 as compared to the same months a year ago.

The decrease in bulk segment revenue was due to a decrease in energy costs for CW-Bahamas, which decreased the energy pass-through component of CW-Bahamas’ rates.

The decrease in services segment revenue was due to a $16.5 million decrease in plant construction revenue. Revenue generated under operations and maintenance contracts totaled $14.2 million in the first half of 2024, up 83% as compared to $7.7 million in the same year-ago period.

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

Gross profit for the first half of 2024 was $25.5 million (35% of total revenue), down 2% from $26.0 million (34% of total revenue) in the same year-ago period.

Net income from continuing operations attributable to stockholders for the first half of 2024 was $11.2 million or $0.70 per diluted share, compared to net income of $11.6 million or $0.73 per diluted share for the first half of 2023.

Including discontinued operations, net income attributable to Consolidated Water stockholders for the first half of 2024 was $22.3 million or $1.40 per fully diluted share, up from net income of $11.1 million or $0.70 per fully diluted share in the same period of 2023. The increase was primarily due to a gain on sale of land and project documentation of $12.1 million in the second quarter of 2024.

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Second Quarter Segment Results

	Three Months Ended June 30, 2024
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	8,181,884	$	8,447,958	$	11,922,469	$	3,926,847	$	32,479,158
Cost of revenue		3,670,133		6,097,460		8,458,537		2,632,814		20,858,944
Gross profit		4,511,751		2,350,498		3,463,932		1,294,033		11,620,214
General and administrative expenses		4,378,816		363,268		1,196,624		667,586		6,606,294
Gain (loss) on asset dispositions and impairments, net		(6,130)		—		3,000		—		(3,130)
Income from operations	$	126,805	$	1,987,230	$	2,270,308	$	626,447		5,010,790
Other income, net										418,426
Income before income taxes										5,429,216
Provision for income taxes										1,063,933
Net income from continuing operations										4,365,283
Income from continuing operations attributable to non-controlling interests										122,872
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										4,242,411
Net income from discontinued operations										11,607,846
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	15,850,257

	Three Months Ended June 30, 2023
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	7,573,329	$	8,482,495	$	24,093,963	$	4,087,476	$	44,237,263
Cost of revenue		3,433,132		5,931,735		16,248,141		3,160,706		28,773,714
Gross profit		4,140,197		2,550,760		7,845,822		926,770		15,463,549
General and administrative expenses		4,265,535		379,900		904,560		434,920		5,984,915
Gain on asset dispositions and impairments, net		—		1,000		—		—		1,000
Income from operations	$	(125,338)	$	2,171,860	$	6,941,262	$	491,850		9,479,634
Other income, net										129,131
Income before income taxes										9,608,765
Provision for income taxes										1,940,067
Net income from continuing operations										7,668,698
Income attributable to non-controlling interests										137,226
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										7,531,472
Net loss from discontinued operations										(207,701)
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	7,323,771

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First Half Segment Results

	Six Months Ended June 30, 2024
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	16,806,822	$	16,790,052	$	29,340,080	$	9,231,594	$	72,168,548
Cost of revenue		7,221,477		11,662,718		21,127,476		6,658,640		46,670,311
Gross profit		9,585,345		5,127,334		8,212,604		2,572,954		25,498,237
General and administrative expenses		8,483,148		707,409		2,794,478		1,185,288		13,170,323
Gain (loss) on asset dispositions and impairments, net		(6,130)		—		3,000		—		(3,130)
Income from operations	$	1,096,067	$	4,419,925	$	5,421,126	$	1,387,666		12,324,784
Other income, net										836,610
Income before income taxes										13,161,394
Provision for income taxes										1,685,629
Net income from continuing operations										11,475,765
Income from continuing operations attributable to non-controlling interests										291,940
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										11,183,825
Net income from discontinued operations										11,140,780
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	22,324,605

	Six Months Ended June 30, 2023
	Retail		Bulk		Services		Manufacturing		Total
Revenue	$	15,344,424	$	17,486,868	$	36,815,664	$	7,459,297	$	77,106,253
Cost of revenue		6,983,926		12,174,881		26,292,219		5,632,596		51,083,622
Gross profit		8,360,498		5,311,987		10,523,445		1,826,701		26,022,631
General and administrative expenses		8,442,642		732,875		1,993,232		852,828		12,021,577
Gain (loss) on asset dispositions and impairments, net		(7,287)		12,270		—		1,933		6,916
Income (loss) from operations	$	(89,431)	$	4,591,382	$	8,530,213	$	975,806		14,007,970
Other income, net										286,190
Income before income taxes										14,294,160
Provision for income taxes										2,389,552
Net income from continuing operations										11,904,608
Income from continuing operations attributable to non-controlling interests										300,347
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders										11,604,261
Net loss from discontinued operations										(466,864)
Net income attributable to Consolidated Water Co. Ltd. stockholders									$	11,137,397

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Conference Call

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

Date: Thursday, August 15, 2024

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: 3791392

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 August 22, 2024, 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: 3791392

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, constructs and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and designs, constructs 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, construct, 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 cwco.com.

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

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CONSOLIDATED WATER CO. LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

		June 30,		December 31,
		2024		2023
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	96,670,206	$	42,621,898
Accounts receivable, net		39,664,848		38,226,891
Inventory		4,561,374		6,044,642
Prepaid expenses and other current assets		2,945,174		4,056,370
Contract assets		5,413,780		21,553,057
Current assets of discontinued operations		1,503,473		211,517
Total current assets		150,758,855		112,714,375
Property, plant and equipment, net		54,368,951		55,882,521
Construction in progress		1,245,998		495,471
Inventory, noncurrent		4,999,102		5,045,771
Investment in OC-BVI		1,311,271		1,412,158
Goodwill		12,861,404		12,861,404
Intangible assets, net		3,025,000		3,353,185
Operating lease right-of-use assets		3,532,430		2,135,446
Other assets		3,058,949		3,407,973
Long-term assets of discontinued operations		—		21,129,288
Total assets	$	235,161,960	$	218,437,592

LIABILITIES AND EQUITY
Current liabilities
Accounts payable, accrued expenses and other current liabilities	$	8,100,744	$	11,604,369
Accrued compensation		2,759,353		3,160,030
Dividends payable		1,559,669		1,572,655
Current maturities of operating leases		618,705		456,865
Current portion of long-term debt		170,867		192,034
Contract liabilities		5,710,398		6,237,011
Deferred revenue		217,618		317,017
Current liabilities of discontinued operations		393,237		364,665
Total current liabilities		19,530,591		23,904,646
Long-term debt, noncurrent		115,033		191,190
Deferred tax liabilities		383,075		530,780
Noncurrent operating leases		2,949,303		1,827,302
Other liabilities		153,000		153,000
Deferred revenue		29,459		—
Total liabilities		23,160,461		26,606,918
Commitments and contingencies
Equity
Consolidated Water Co. Ltd. stockholders' equity
Redeemable preferred stock, $0.60 par value. Authorized 200,000 shares; issued and outstanding 49,057 and 44,297 shares, respectively		29,434		26,578
Class A common stock, $0.60 par value. Authorized 24,655,000 shares; issued and outstanding 15,829,572 and 15,771,545 shares, respectively		9,497,743		9,462,927
Class B common stock, $0.60 par value. Authorized 145,000 shares; none issued		—		—
Additional paid-in capital		92,723,287		92,188,887
Retained earnings		104,455,633		85,148,820
Total Consolidated Water Co. Ltd. stockholders' equity		206,706,097		186,827,212
Non-controlling interests		5,295,402		5,003,462
Total equity		212,001,499		191,830,674
Total liabilities and equity	$	235,161,960	$	218,437,592

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CONSOLIDATED WATER CO. LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenue	$	32,479,158	$	44,237,263	$	72,168,548	$	77,106,253
Cost of revenue		20,858,944		28,773,714		46,670,311		51,083,622
Gross profit		11,620,214		15,463,549		25,498,237		26,022,631
General and administrative expenses		6,606,294		5,984,915		13,170,323		12,021,577
Gain (loss) on asset dispositions and impairments, net		(3,130)		1,000		(3,130)		6,916
Income from operations		5,010,790		9,479,634		12,324,784		14,007,970

Other income (expense):
Interest income		380,854		86,137		714,996		199,781
Interest expense		(33,438)		(36,247)		(66,939)		(74,091)
Profit-sharing income from OC-BVI		12,150		12,150		32,400		26,325
Equity in the earnings of OC-BVI		36,647		35,272		93,963		70,830
Other		22,213		31,819		62,190		63,345
Other income, net		418,426		129,131		836,610		286,190
Income before income taxes		5,429,216		9,608,765		13,161,394		14,294,160
Provision for income taxes		1,063,933		1,940,067		1,685,629		2,389,552
Net income from continuing operations		4,365,283		7,668,698		11,475,765		11,904,608
Income from continuing operations attributable to non-controlling interests		122,872		137,226		291,940		300,347
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders		4,242,411		7,531,472		11,183,825		11,604,261
Net income (loss) from discontinued operations		11,607,846		(207,701)		11,140,780		(466,864)
Net income attributable to Consolidated Water Co. Ltd. stockholders	$	15,850,257	$	7,323,771	$	22,324,605	$	11,137,397

Basic earnings (loss) per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$	0.27	$	0.48	$	0.71	$	0.74
Discontinued operations		0.73		(0.01)		0.70		(0.03)
Basic earnings per share	$	1.00	$	0.47	$	1.41	$	0.71

Diluted earnings (loss) per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$	0.26	$	0.47	$	0.70	$	0.73
Discontinued operations		0.73		(0.01)		0.70		(0.03)
Diluted earnings per share	$	0.99	$	0.46	$	1.40	$	0.70

Dividends declared per common and redeemable preferred shares	$	0.095	$	0.085	$	0.19	$	0.17

Weighted average number of common shares used in the determination of:
Basic earnings per share		15,829,120		15,736,041		15,829,024		15,729,852
Diluted earnings per share		15,983,671		15,907,440		15,984,154		15,899,923

Document and Entity Information	Aug. 14, 2024
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Aug. 14, 2024
Entity 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, Adress 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