Filing Flows › Consolidated Water (CWCO) › Q1 2026 › vs Q1 2025
Consolidated Water (CWCO) Q1 2026 vs Q1 2025 (year over year)
Consolidated Water's revenue fell $3.7M (-11%) from $33.7M in Q1 2025 to $30.0M in Q1 2026. The biggest changes: Manufacturing revenue −$4.4M (-76%); Services revenue +$1.2M (+12%); Retail revenue −$834K (-9%). Gross margin 36.4% against 36.5% (-0.1 pts).
Consolidated Water, Q1 2026: revenue $30.0M (-11% year over year), operating margin 11.5%, net earnings $3.8M, operating cash flow $6.5M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 36.4% | 36.5% | -0.1 pts |
| Operating margin | 11.5% | 13.7% | -2.2 pts |
| Net margin | 12.6% | 14.2% | -1.6 pts |
| Free cash flow margin | 16.2% | 30.1% | -13.9 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Services revenue | $11.3M | $10.1M | $1.2M | +12% |
| Bulk revenue | $8.7M | $8.4M | $333K | +4% |
| Retail revenue | $8.6M | $9.4M | −$834K | -9% |
| Manufacturing revenue | $1.4M | $5.8M | −$4.4M | -76% |
| Revenue | $30.0M | $33.7M | −$3.7M | -11% |
| Gross profit | $10.9M | $12.3M | −$1.4M | -11% |
| Cost of revenue | $19.1M | $21.4M | −$2.4M | -11% |
| Other income, net | $697K | $556K | $141K | +25% |
| Operating profit | $3.4M | $4.6M | −$1.2M | -25% |
| Operating expenses | $7.5M | $7.7M | −$219K | -3% |
| Pre-tax earnings | $4.1M | $5.2M | −$1.0M | -20% |
| Net earnings | $3.8M | $4.8M | −$1.0M | -21% |
| Minority interests | $156K | $165K | −$9K | -6% |
| Income tax | $203K | $210K | −$7K | -4% |
| Depreciation & amortization | $1.8M | $1.7M | $62K | +4% |
| Share-based compensation | $396K | $299K | $97K | +32% |
| Working capital & other | $616K | $5.0M | −$4.4M | -88% |
| Operating cash flow | $6.5M | $11.8M | −$5.2M | -44% |
| Free cash flow (OCF − capex) | $4.9M | $10.2M | −$5.3M | -52% |
| Capital expenditures | $1.7M | $1.6M | $87K | +5% |
Questions
How much did Consolidated Water's revenue grow year over year in Q1 2026?
Consolidated Water's revenue fell $3.7M (-11%) from $33.7M in Q1 2025 to $30.0M in Q1 2026.
What drove Consolidated Water's revenue change in Q1 2026?
Manufacturing revenue −$4.4M (-76%); Services revenue +$1.2M (+12%); Retail revenue −$834K (-9%).