Consolidated Water: The Q2 Beat Does Not Change My Thesis
Consolidated Water reported a Q2 earnings beat, but the article maintains a cautious thesis, noting volatile earnings and revenue with manufacturing down nearly 50% and net income down over 10%. The Hawaii project now accounts for 27% of CWCO's revenue, raising concentration and regulatory concerns not fully reflected in its valuation.
Why it matters — CWCO watchers would care because despite operational wins, the article highlights persistent earnings volatility and growing concentration and regulatory risk tied to the Hawaii project.