Filing Flows › Consolidated Water (CWCO) › Q1 2026 › vs Q4 2025
Consolidated Water (CWCO) Q1 2026 vs Q4 2025 (quarter over quarter)
Consolidated Water's revenue rose $326K (+1%) from $29.6M in Q4 2025 to $30.0M in Q1 2026. The biggest changes: Manufacturing revenue −$1.6M (-53%); Retail revenue +$809K (+10%); Services revenue +$755K (+7%). Gross margin 36.4% against 34.7% (+1.7 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 Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 36.4% | 34.7% | +1.7 pts |
| Operating margin | 11.5% | 9.1% | +2.4 pts |
| Net margin | 12.6% | 9.8% | +2.8 pts |
| Free cash flow margin | 16.2% | 11.4% | +4.8 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Services revenue | $11.3M | $10.5M | $755K | +7% |
| Bulk revenue | $8.7M | $8.4M | $345K | +4% |
| Retail revenue | $8.6M | $7.8M | $809K | +10% |
| Manufacturing revenue | $1.4M | $3.0M | −$1.6M | -53% |
| Revenue | $30.0M | $29.6M | $326K | +1% |
| Gross profit | $10.9M | $10.3M | $621K | +6% |
| Cost of revenue | $19.1M | $19.4M | −$296K | -2% |
| Other income, net | $697K | $667K | $30K | +4% |
| Operating profit | $3.4M | $2.7M | $735K | +27% |
| Operating expenses | $7.5M | $7.6M | −$114K | -2% |
| Pre-tax earnings | $4.1M | $3.4M | $765K | +23% |
| Net earnings | $3.8M | $2.9M | $860K | +29% |
| Minority interests | $156K | $122K | $34K | +28% |
| Income tax | $203K | $332K | −$129K | -39% |
| Depreciation & amortization | $1.8M | $1.7M | $15K | +0.9% |
| Share-based compensation | $396K | $524K | −$128K | -24% |
| Working capital & other | $616K | $600K | $16K | +3% |
| Operating cash flow | $6.5M | $5.8M | $763K | +13% |
| Free cash flow (OCF − capex) | $4.9M | $3.4M | $1.5M | +44% |
| Capital expenditures | $1.7M | $2.4M | −$712K | -30% |
Questions
How much did Consolidated Water's revenue grow quarter over quarter in Q1 2026?
Consolidated Water's revenue rose $326K (+1%) from $29.6M in Q4 2025 to $30.0M in Q1 2026.
What drove Consolidated Water's revenue change in Q1 2026?
Manufacturing revenue −$1.6M (-53%); Retail revenue +$809K (+10%); Services revenue +$755K (+7%).