Filing Flows › Consolidated Water (CWCO) › Q4 2025
Consolidated Water (CWCO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
Consolidated Water (CWCO) reported revenue of $29.6M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and -16% from the quarter before. Operating margin was 9.1%, net earnings $2.9M (9.8% of revenue).
Consolidated Water, Q4 2025: revenue $29.6M (+4% year over year), operating margin 9.1%, net earnings $2.9M, operating cash flow $5.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.6M | -16% | +4% |
| Gross profit | $10.3M | -20% | +21% |
| Operating profit | $2.7M | -53% | +150% |
| Net earnings | $2.9M | -47% | +100% |
| Operating cash flow | $5.8M | -62% | — |
| Free cash flow | $3.4M | -75% | — |
What changed
Revenue was $29.6M in Q4 2025, up 4% year over year and down 16% from the previous quarter. Services revenue was the largest line at 35% of revenue.
Gross margin was 34.7%, up 4.8 points from Q4 2024. Operating profit was $2.7M, a 9.1% margin (up 5.3 points year over year). Of the extra revenue versus Q4 2024, 131% reached operating profit, above the 4% margin then. Operating expenses grew 2% against revenue growth of 4%. Net earnings were $2.9M, up 100% year over year. The effective tax rate was 9.8%.
Operating cash flow was $5.8M, 190% of net income including minority interests. Non-cash charges added back $1.7M of depreciation and amortization and $524K of share-based compensation. Working capital and other items added $478K. Capital expenditures of $2.4M left free cash flow of $3.4M.
Questions
What was Consolidated Water's revenue in the fourth quarter 2025?
Consolidated Water (CWCO) reported revenue of $29.6M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and -16% from the quarter before.
Was Consolidated Water profitable in the fourth quarter 2025?
Operating profit was $2.7M (9.1% of revenue) and net earnings $2.9M.
Source: Consolidated Water 10-K on SEC EDGAR.