Filing Flows › Consolidated Water (CWCO) › Q3 2025
Consolidated Water (CWCO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Consolidated Water (CWCO) reported revenue of $35.1M for the third quarter 2025 (Q3 2025), +5% from a year earlier and +5% from the quarter before. Operating margin was 16.4%, net earnings $5.5M (15.8% of revenue).
Consolidated Water, Q3 2025: revenue $35.1M (+5% year over year), operating margin 16.4%, net earnings $5.5M, operating cash flow $15.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.1M | +5% | +5% |
| Gross profit | $12.9M | +0.9% | +11% |
| Operating profit | $5.8M | +9% | +18% |
| Net earnings | $5.5M | +9% | +24% |
| Operating cash flow | $15.4M | +76% | +49% |
| Free cash flow | $13.5M | +119% | +62% |
What changed
Revenue was $35.1M in Q3 2025, up 5% year over year and up 5% from the previous quarter. Services revenue was the largest line at 41% of revenue. Services revenue added $1.6M year over year (up 13%), 93% of the total change. Bulk revenue declined 4%.
Gross margin was 36.9%, up 2.0 points from a year earlier. Operating profit was $5.8M, a 16.4% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 51% reached operating profit, above the 15% margin then. Operating expenses grew 6% against revenue growth of 5%. Net earnings were $5.5M, up 24% year over year. The effective tax rate was 12.7%.
Operating cash flow was $15.4M (up 49% year over year), 270% of net income including minority interests. Non-cash charges added back $1.8M of depreciation and amortization and $483K of share-based compensation. Working capital and other items added $7.5M. Capital expenditures of $1.9M left free cash flow of $13.5M.
Questions
What was Consolidated Water's revenue in the third quarter 2025?
Consolidated Water (CWCO) reported revenue of $35.1M for the third quarter 2025 (Q3 2025), +5% from a year earlier and +5% from the quarter before.
Was Consolidated Water profitable in the third quarter 2025?
Operating profit was $5.8M (16.4% of revenue) and net earnings $5.5M.
Source: Consolidated Water 10-Q on SEC EDGAR.