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How Consolidated Water (CWCO) makes money

Consolidated Water (CWCO) made $32.9M of revenue in the second quarter 2026 (Q2 2026), -2% from a year earlier. Services revenue brought in $11.6M (35%); Bulk revenue brought in $9.9M (30%); Retail revenue brought in $8.7M (26%). Of every dollar of revenue, 33¢ was left as gross profit, 11¢ was left as operating profit, 12¢ was left as net earnings.

Drawing the Sankey…

Consolidated Water revenue by segment, Q2 2026Consolidated Water revenue by segment, Q2 2026Services revenue$11.6MBulk revenue$9.9MRetail revenue$8.7MManufacturing revenue$2.7M
Consolidated Water: revenue by line, Q4 2024 to Q2 2026Consolidated Water: revenue by line, Q4 2024 to Q2 2026Services revenueBulk revenueRetail revenueManufacturing revenueServices revenue: $11.6M latest$11.6MBulk revenue: $9.9M latest$9.9MRetail revenue: $8.7M latest$8.7MManufacturing revenue: $2.7M latest$2.7MQ4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Manufacturing revenue went from 14% of revenue in Q4 2024 to 8% in Q2 2026, the largest shift in the mix.
Consolidated Water revenue by quarterConsolidated Water revenue by quarter$28.4MQ4 2024$33.7MQ1 2025$33.6MQ2 2025$35.1MQ3 2025$29.6MQ4 2025$30.0MQ1 2026$32.9MQ2 2026
Consolidated Water: where each dollar of revenue goesConsolidated Water: where each dollar of revenue goesCost of revenue67¢Gross profit33¢Operating expenses22¢Operating profit11¢Income tax1¢Net earnings12¢Operating cash flow37¢Free cash flow26¢

Revenue by segment, Q2 2026

SegmentRevenueShareQ/QY/Y
Services revenue$11.6M35.2%+3%+1%
Bulk revenue$9.9M30.2%+14%+20%
Retail revenue$8.7M26.3%+1%+0.3%
Manufacturing revenue$2.7M8.2%+92%-49%

Where each dollar of revenue goes

LineQ2 2026% of revenue
Revenue$32.9M100.0%
Cost of revenue$21.9M66.6%
Gross profit$11.0M33.4%
Operating expenses$7.2M22.0%
Operating profit$3.7M11.4%
Income tax$268K0.8%
Net earnings$3.9M12.0%
Operating cash flow$12.0M36.6%
Free cash flow$8.5M25.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 2026$32.9M-2%
Q1 2026$30.0M-11%
Q4 2025$29.6M+4%
Q3 2025$35.1M+5%
Q2 2025$33.6M+3%
Q1 2025$33.7M-15%
Q4 2024$28.4M-47%

From Consolidated Water's 10-Q filed Aug 10, 2026 (on EDGAR).

Questions

How does Consolidated Water make money?

Consolidated Water (CWCO) made $32.9M of revenue in the second quarter 2026 (Q2 2026), -2% from a year earlier. Services revenue brought in $11.6M (35%); Bulk revenue brought in $9.9M (30%); Retail revenue brought in $8.7M (26%). Of every dollar of revenue, 33¢ was left as gross profit, 11¢ was left as operating profit, 12¢ was left as net earnings.

What is Consolidated Water's biggest business?

Services revenue: $11.6M in the second quarter 2026, 35% of revenue, +1% from a year earlier.

What is Consolidated Water's profit margin?

Net earnings were $3.9M, 12.0% of revenue, in the second quarter 2026; the operating margin was 11.4%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.