How did CWCO's Q1 2024 EPS outperform forecasts?

Consolidated Water Co Ltd (CWCO) reported an EPS of $0.4 for Q1 2024, which outperformed forecasts due to several key factors: 1. **Revenue Structure**: CWCO's revenue structure showed a positive retail segment performance, with revenues amounting to $7.6 million, reflecting a 5.6% increase from the previous year. This uptick was primarily driven by continued business and population growth on the Grand Cayman Island. 2. **Bulk Segment Growth**: The Bulk segment revenues reached $8.8 million, marking a 3.5% increase year-over-year. This growth was attributed to an increase in gross margin from new operations and maintenance contracts for the Red Gate II plant. 3. **Manufacturing Segment Stability**: Despite a slight decline of 6.4% in manufacturing revenues, which amounted to $4.4 million, the segment showed resilience. This stability was a notable aspect of CWCO's operational performance. 4. **Services Segment Reduction**: The Services segment experienced a significant decline, with revenues dropping 56.8% to $12.7 million compared to the previous year. This reduction was due to an anticipated decrease in construction revenues related to the completion of the Liberty Utilities and Red Gate II projects. In summary, CWCO's Q1 2024 EPS outperformance can be attributed to a combination of increased revenues in the retail and bulk segments, stable manufacturing segment performance, and a strong overall business outlook.