Filing Flows › Consolidated Water (CWCO) › Q2 2026 › vs Q2 2025
Consolidated Water (CWCO) Q2 2026 vs Q2 2025 (year over year)
Consolidated Water's revenue fell $721K (-2%) from $33.6M in Q2 2025 to $32.9M in Q2 2026. The biggest changes: Manufacturing revenue −$2.5M (-49%); Bulk revenue +$1.7M (+20%); Services revenue +$137K (+1%). Gross margin 33.4% against 38.2% (-4.8 pts).
Consolidated Water, Q2 2026: revenue $32.9M (-2% year over year), operating margin 11.4%, net earnings $3.9M, operating cash flow $12.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 33.4% | 38.2% | -4.8 pts |
| Operating margin | 11.4% | 15.7% | -4.3 pts |
| Net margin | 12.0% | 15.2% | -3.2 pts |
| Free cash flow margin | 25.9% | 18.3% | +7.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Services revenue | $11.6M | $11.4M | $137K | +1% |
| Bulk revenue | $9.9M | $8.3M | $1.7M | +20% |
| Retail revenue | $8.7M | $8.6M | $23K | +0.3% |
| Manufacturing revenue | $2.7M | $5.2M | −$2.5M | -49% |
| Revenue | $32.9M | $33.6M | −$721K | -2% |
| Gross profit | $11.0M | $12.8M | −$1.9M | -15% |
| Cost of revenue | $21.9M | $20.8M | $1.1M | +6% |
| Other income, net | $625K | $738K | −$113K | -15% |
| Operating profit | $3.7M | $5.3M | −$1.5M | -29% |
| Operating expenses | $7.2M | $7.5M | −$330K | -4% |
| Pre-tax earnings | $4.4M | $6.0M | −$1.7M | -27% |
| Net earnings | $3.9M | $5.1M | −$1.2M | -23% |
| Minority interests | $170K | $129K | $41K | +32% |
| Income tax | $268K | $796K | −$528K | -66% |
| Depreciation & amortization | $1.8M | $1.7M | $71K | +4% |
| Share-based compensation | $392K | $396K | −$4K | -1% |
| Working capital & other | $5.9M | $1.6M | $4.4M | +279% |
| Operating cash flow | $12.0M | $8.8M | $3.3M | +37% |
| Free cash flow (OCF − capex) | $8.5M | $6.1M | $2.4M | +39% |
| Capital expenditures | $3.5M | $2.6M | $891K | +34% |
Questions
How much did Consolidated Water's revenue grow year over year in Q2 2026?
Consolidated Water's revenue fell $721K (-2%) from $33.6M in Q2 2025 to $32.9M in Q2 2026.
What drove Consolidated Water's revenue change in Q2 2026?
Manufacturing revenue −$2.5M (-49%); Bulk revenue +$1.7M (+20%); Services revenue +$137K (+1%).