Cons Water Inc (CWCO)

$33.56 +0.97 (2.98%)
Market Cap 519.06M
Revenue (ttm) 133.97M
Net Income (ttm) 28.24M
EPS (ttm) N/A
PE Ratio 0.00
Forward PE 30.84
Profit Margin 21.08%
Debt to Equity Ratio 0.00
Volume 95,700
Avg Vol 133,446
Day's Range N/A - N/A
Shares Out 15.93M
Stochastic %K 83%
Beta 0.53
Analysts Strong Sell
Price Target $39.50

Company Profile

Consolidated Water Co. Ltd., together with its subsidiaries, supplies potable water, treats wastewater and water for reuse, and provides water-related products and services in the Cayman Islands, the Bahamas, the United States, and the British Virgin Islands. The company operates through Retail, Bulk, Services, and Manufacturing segments. It produces potable water from seawater utilizing reverse osmosis technology and supplies water to end-users, including residential, commercial, and government...

Industry: Utilities - Regulated Water
Sector: Utilities
Phone: 345 945 4277
Fax: 345 949 2957
Address:
Regatta Office Park, Windward Three, 4th Floor West Bay Road PO Box 1114, Grand Cayman, Cayman Islands
Estimize
Estimize Aug. 19 at 8:00 PM
Wall St is expecting 0.25 EPS for $CWCO Q3 [Reporting 11/17 AMC] http://www.estimize.com/intro/cwco?chart=historical&metric_name=eps&utm_co
0 · Reply
WinWithFlynn
WinWithFlynn Aug. 13 at 9:46 PM
$CWCO
0 · Reply
bdubdc
bdubdc Aug. 13 at 9:34 PM
$CWCO during 2021 i put nearly 6500 bucks into this stock. worth almost 20k now. my best stock pick that i put my money where my mouth is, ever... and i was really thinking this would be a very long term play, not expecting much return for a decade or so. the desalinization angle was my reason for buying it.
0 · Reply
Thestocktraderhubzee
Thestocktraderhubzee Aug. 13 at 5:32 PM
$CWCO Roth Capital Maintains Buy on Consolidated Water Co, Raises Price Target to $40
0 · Reply
ZacksResearch
ZacksResearch Aug. 12 at 5:42 PM
$CWCO crushes Q2 with a 60% EPS beat 💧📈 Revenue grew 6.3% year over year, fueled by stronger retail sales momentum. Full earnings recap here 👉 https://www.zacks.com/stock/news/2703148/consolidated-water-q2-earnings-and-sales-surpass-estimates?cid=sm-stocktwits-2-2703148-teaser-7491&ADID=SYND_STOCKTWITS_TWEET_2_2703148_TEASER_7491
1 · Reply
ZacksResearch
ZacksResearch Aug. 12 at 4:42 PM
$CWCO beats Q2 EPS estimates by 60%! 🚀 💧 EPS of 32 cents vs. 20-cent estimate 📈 Total revenues rise 6.3% YoY due to Retail and Manufacturing segments 💰 Cash reserves jump to $112.3M Discover the full earnings breakdown here 👉 https://www.zacks.com/stock/news/2703148/consolidated-water-q2-earnings-and-sales-surpass-estimates?cid=sm-stocktwits-2-2703148-body-7486&ADID=SYND_STOCKTWITS_TWEET_2_2703148_BODY_7486
0 · Reply
NVDAMillionaire
NVDAMillionaire Jul. 29 at 9:48 PM
$CWCO Outstanding article that hits the mark on CWCO's current state. So if you want to refresh your CWCO insights or learn about CWCO from scratch, this is a must read. https://beyondspx.com/article/consolidated-water-desalination-expertise-fuels-growth-amidst-global-water-scarcity-nasdaq-cwco
1 · Reply
ZacksResearch
ZacksResearch Jul. 10 at 2:32 PM
$CWCO surges 26.8% in 3 months — is the tide turning for this water stock? 🌊 🚰 Reverse Osmosis Technology supporting desalination capabilities 🏝️ Efforts to boost existing operations in Cayman Islands & Bahamas despite receivables risk ⚖️ Zacks Rank #3 (Hold) — steady but cautious outlook See what makes the investment case strong for CWCO 👉 https://www.zacks.com/stock/news/2570789/consolidated-water-benefits-from-new-technology-and-growing-business?cid=sm-stocktwits-2-2570789-body-1175&ADID=SYND_STOCKTWITS_TWEET_2_2570789_BODY_1175
0 · Reply
ZacksResearch
ZacksResearch Jul. 10 at 11:31 AM
$CWCO quietly leveling up with tech upgrades 💡 The company is benefiting from deploying advanced technology to boost service efficiency — a key edge as its business expands. Discover what’s driving growth for CWCO 👉 https://www.zacks.com/stock/news/2570789/consolidated-water-benefits-from-new-technology-and-growing-business?cid=sm-stocktwits-2-2570789-teaser&ADID=SYND_STOCKTWITS_TWEET_2_2570789_TEASER
0 · Reply
bdubdc
bdubdc Jun. 29 at 3:15 PM
$CWCO anyone else notice they upped the divvie payout over 25% for this next round?
0 · Reply
Latest News on CWCO
Consolidated Water Co. Ltd. (CWCO) Q2 2025 Earnings Call Transcript

Aug 12, 2025, 7:30 PM EDT - 10 days ago

Consolidated Water Co. Ltd. (CWCO) Q2 2025 Earnings Call Transcript

Consolidated Water Reports Second Quarter 2025 Results

Aug 11, 2025, 5:00 PM EDT - 12 days ago

Consolidated Water Reports Second Quarter 2025 Results

Consolidated Water Sets Second Quarter 2025 Investor Conference Call for Tuesday, August 12, 2025 at 11:00 a.m. ET

Aug 4, 2025, 8:31 AM EDT - 19 days ago

Consolidated Water Sets Second Quarter 2025 Investor Conference Call for Tuesday, August 12, 2025 at 11:00 a.m. ET

Consolidated Water: Undervalued Cash Flow Machine With A Strategic U.S. Expansion Catalyst

Jun 30, 2025, 2:38 PM EDT - 7 weeks ago

Consolidated Water: Undervalued Cash Flow Machine With A Strategic U.S. Expansion Catalyst

Consolidated Water Co. Ltd. (CWCO) Q1 2025 Earnings Call Transcript

May 13, 2025, 1:07 PM EDT - 3 months ago

Consolidated Water Co. Ltd. (CWCO) Q1 2025 Earnings Call Transcript

Consolidated Water Receives Key Approval for $204 Million Seawater Desalination Plant Project in Hawaii

May 13, 2025, 8:31 AM EDT - 3 months ago

Consolidated Water Receives Key Approval for $204 Million Seawater Desalination Plant Project in Hawaii

Consolidated Water Reports First Quarter 2025 Results

May 12, 2025, 5:30 PM EDT - 3 months ago

Consolidated Water Reports First Quarter 2025 Results

Consolidated Water Sets First Quarter 2025 Investor Conference Call for Tuesday, May 13, 2025 at 11:00 a.m. ET

May 5, 2025, 8:31 AM EDT - 3 months ago

Consolidated Water Sets First Quarter 2025 Investor Conference Call for Tuesday, May 13, 2025 at 11:00 a.m. ET

Undercovered Dozen: Delek Logistics, Perma-Fix, Consolidated Water, Rockwell Automation +

Mar 29, 2025, 8:30 AM EDT - 5 months ago

Undercovered Dozen: Delek Logistics, Perma-Fix, Consolidated Water, Rockwell Automation +

DKL ROK

Consolidated Water: A Tiny Company With A Big Future

Mar 21, 2025, 9:44 AM EDT - 5 months ago

Consolidated Water: A Tiny Company With A Big Future

Consolidated Water Co. Ltd. (CWCO) Q4 2024 Earnings Call Transcript

Mar 18, 2025, 4:42 PM EDT - 5 months ago

Consolidated Water Co. Ltd. (CWCO) Q4 2024 Earnings Call Transcript

Consolidated Water Reports Full Year 2024 Results

Mar 17, 2025, 5:30 PM EDT - 5 months ago

Consolidated Water Reports Full Year 2024 Results

Top 2 Utilities Stocks That May Fall Off A Cliff In Q1

Mar 17, 2025, 7:41 AM EDT - 5 months ago

Top 2 Utilities Stocks That May Fall Off A Cliff In Q1

EBR

Consolidated Water Sets 2024 Full Year Investor Conference Call for Tuesday, March 18, 2025 at 11:00 a.m. ET

Mar 3, 2025, 8:31 AM EST - 6 months ago

Consolidated Water Sets 2024 Full Year Investor Conference Call for Tuesday, March 18, 2025 at 11:00 a.m. ET

Consolidated Water to Attend the 37th Annual ROTH Conference, March 17-18, 2025

Mar 3, 2025, 8:00 AM EST - 6 months ago

Consolidated Water to Attend the 37th Annual ROTH Conference, March 17-18, 2025

Consolidated Water Declares Second Quarter Cash Dividend

Feb 26, 2025, 8:31 AM EST - 6 months ago

Consolidated Water Declares Second Quarter Cash Dividend

Consolidated Water's Cayman Islands Water Utility Receives New Water Production and Supply Concession from Cayman Islands Government

Feb 24, 2025, 8:31 AM EST - 6 months ago

Consolidated Water's Cayman Islands Water Utility Receives New Water Production and Supply Concession from Cayman Islands Government

Consolidated Water Declares First Quarter Cash Dividend

Nov 25, 2024, 8:31 AM EST - 9 months ago

Consolidated Water Declares First Quarter Cash Dividend

Consolidated Water Co. Ltd. (CWCO) Q3 2024 Earnings Call Transcript

Nov 15, 2024, 12:53 PM EST - 10 months ago

Consolidated Water Co. Ltd. (CWCO) Q3 2024 Earnings Call Transcript

Consolidated Water Reports Third Quarter 2024 Operating Results

Nov 14, 2024, 4:47 PM EST - 10 months ago

Consolidated Water Reports Third Quarter 2024 Operating Results

Consolidated Water Sets Third Quarter 2024 Investor Conference Call for Friday, November 15, 2024 at 11:00 a.m. ET

Nov 5, 2024, 8:31 AM EST - 10 months ago

Consolidated Water Sets Third Quarter 2024 Investor Conference Call for Friday, November 15, 2024 at 11:00 a.m. ET

Consolidated Water to Present at the Janney Virtual Water Utilities Conference, September 19, 2024

Sep 9, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water to Present at the Janney Virtual Water Utilities Conference, September 19, 2024

Consolidated Water Increases Dividend and Declares Fourth Quarter Cash Dividend of $0.11 per Share

Aug 27, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water Increases Dividend and Declares Fourth Quarter Cash Dividend of $0.11 per Share

Consolidated Water: Q2 2024 Earnings Make A Splash, But Miss The Mark

Aug 20, 2024, 10:57 AM EDT - 1 year ago

Consolidated Water: Q2 2024 Earnings Make A Splash, But Miss The Mark

Consolidated Water Co. Ltd. (CWCO) Q2 2024 Earnings Call Transcript

Aug 15, 2024, 3:44 PM EDT - 1 year ago

Consolidated Water Co. Ltd. (CWCO) Q2 2024 Earnings Call Transcript

Consolidated Water Reports Second Quarter 2024 Operating Results

Aug 14, 2024, 4:45 PM EDT - 1 year ago

Consolidated Water Reports Second Quarter 2024 Operating Results

How To Earn $500 A Month From Consolidated Water Stock Ahead Of Q2 Earnings

Aug 13, 2024, 8:10 AM EDT - 1 year ago

How To Earn $500 A Month From Consolidated Water Stock Ahead Of Q2 Earnings

Consolidated Water Sets Second Quarter 2024 Investor Conference Call for Thursday, August 15, 2024 at 11:00 a.m. ET

Aug 1, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water Sets Second Quarter 2024 Investor Conference Call for Thursday, August 15, 2024 at 11:00 a.m. ET

Consolidated Water Sustains No Damage in Grand Cayman From Major Hurricane Beryl

Jul 5, 2024, 3:45 AM EDT - 1 year ago

Consolidated Water Sustains No Damage in Grand Cayman From Major Hurricane Beryl

Consolidated Water to Attend the 10th Annual ROTH London Conference, June 25-27, 2024

Jun 11, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water to Attend the 10th Annual ROTH London Conference, June 25-27, 2024

Consolidated Water Declares Third Quarter Cash Dividend

Jun 5, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water Declares Third Quarter Cash Dividend

Consolidated Water Announces Settlement of Dispute with Mexico Regarding Playas de Rosarito, Baja California Desalination Project

Jun 4, 2024, 4:05 PM EDT - 1 year ago

Consolidated Water Announces Settlement of Dispute with Mexico Regarding Playas de Rosarito, Baja California Desalination Project

Consolidated Water Announces Partial Adjournment of Annual General Meeting and Information for Reconvened Meeting

May 31, 2024, 4:10 PM EDT - 1 year ago

Consolidated Water Announces Partial Adjournment of Annual General Meeting and Information for Reconvened Meeting

Consolidated Water: Strong Balance Sheet And Promising Development

May 29, 2024, 8:26 AM EDT - 1 year ago

Consolidated Water: Strong Balance Sheet And Promising Development

Consolidated Water Comments on ISS and Glass Lewis Reports and Urges Stockholders to Vote “FOR” Re-Election of Its Highly Qualified Directors

May 20, 2024, 1:04 PM EDT - 1 year ago

Consolidated Water Comments on ISS and Glass Lewis Reports and Urges Stockholders to Vote “FOR” Re-Election of Its Highly Qualified Directors

Consolidated Water Co. Ltd. (CWCO) Q1 2024 Earnings Call Transcript

May 16, 2024, 5:59 PM EDT - 1 year ago

Consolidated Water Co. Ltd. (CWCO) Q1 2024 Earnings Call Transcript

Consolidated Water Reports First Quarter 2024 Revenue up 21% to $39.7 Million, Driving Net Income from Continuing Operations of $6.9 Million or $0.43 Diluted EPS

May 15, 2024, 4:10 PM EDT - 1 year ago

Consolidated Water Reports First Quarter 2024 Revenue up 21% to $39.7 Million, Driving Net Income from Continuing Operations of $6.9 Million or $0.43 Diluted EPS

Consolidated Water Sets First Quarter 2024 Investor Conference Call for Thursday, May 16, 2024 at 11:00 a.m. ET

May 2, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water Sets First Quarter 2024 Investor Conference Call for Thursday, May 16, 2024 at 11:00 a.m. ET

Consolidated Water Co. Ltd. (CWCO) Q4 2023 Earnings Call Transcript

Mar 28, 2024, 12:58 PM EDT - 1 year ago

Consolidated Water Co. Ltd. (CWCO) Q4 2023 Earnings Call Transcript

Consolidated Water Reports 2023 Revenue up 92% to $180.2 Million, Net Income of $30.7 Million or $1.93 per Diluted Share

Mar 27, 2024, 5:50 PM EDT - 1 year ago

Consolidated Water Reports 2023 Revenue up 92% to $180.2 Million, Net Income of $30.7 Million or $1.93 per Diluted Share

Consolidated Water Sets 2023 Full Year Operating Results Conference Call for Thursday, March 28, 2024 at 11:00 a.m. ET

Mar 19, 2024, 8:31 AM EDT - 1 year ago

Consolidated Water Sets 2023 Full Year Operating Results Conference Call for Thursday, March 28, 2024 at 11:00 a.m. ET

Consolidated Water: Good Growth Prospects And The Stock Is Oversold

Feb 28, 2024, 1:27 PM EST - 1 year ago

Consolidated Water: Good Growth Prospects And The Stock Is Oversold

Consolidated Water to Attend the 36th Annual ROTH Conference, March 17-19, 2024

Feb 22, 2024, 8:31 AM EST - 1 year ago

Consolidated Water to Attend the 36th Annual ROTH Conference, March 17-19, 2024

Consolidated Water: Because Water May Be More Valuable Than Oil

Dec 22, 2023, 12:30 PM EST - 1 year ago

Consolidated Water: Because Water May Be More Valuable Than Oil

Consolidated Water Co. Ltd. (CWCO) Q3 2023 Earnings Call Transcript

Nov 10, 2023, 3:14 PM EST - 1 year ago

Consolidated Water Co. Ltd. (CWCO) Q3 2023 Earnings Call Transcript

Consolidated Water Reports Third Quarter 2023 Revenue up 99% to $49.9 Million and Net Income of $8.6 Million or $0.54 per Diluted Share

Nov 9, 2023, 4:32 PM EST - 1 year ago

Consolidated Water Reports Third Quarter 2023 Revenue up 99% to $49.9 Million and Net Income of $8.6 Million or $0.54 per Diluted Share

Consolidated Water Group Acquires Ramey Environmental Compliance, Broadening Presence in Water-Stressed Western U.S.

Nov 6, 2023, 4:05 PM EST - 1 year ago

Consolidated Water Group Acquires Ramey Environmental Compliance, Broadening Presence in Water-Stressed Western U.S.

Consolidated Water Sets Third Quarter 2023 Investor Conference Call for Friday, November 10, 2023 at 11:00 a.m. ET

Oct 27, 2023, 8:31 AM EDT - 1 year ago

Consolidated Water Sets Third Quarter 2023 Investor Conference Call for Friday, November 10, 2023 at 11:00 a.m. ET

Consolidated Water: Hidden Gem But Fully Valued Right Now

Sep 8, 2023, 6:09 AM EDT - 2 years ago

Consolidated Water: Hidden Gem But Fully Valued Right Now

Consolidated Water: Throwing Off High Rates Of Return On Small Capital Requirements, Rate Buy

Sep 7, 2023, 9:48 AM EDT - 2 years ago

Consolidated Water: Throwing Off High Rates Of Return On Small Capital Requirements, Rate Buy

Estimize
Estimize Aug. 19 at 8:00 PM
Wall St is expecting 0.25 EPS for $CWCO Q3 [Reporting 11/17 AMC] http://www.estimize.com/intro/cwco?chart=historical&metric_name=eps&utm_co
0 · Reply
WinWithFlynn
WinWithFlynn Aug. 13 at 9:46 PM
$CWCO
0 · Reply
bdubdc
bdubdc Aug. 13 at 9:34 PM
$CWCO during 2021 i put nearly 6500 bucks into this stock. worth almost 20k now. my best stock pick that i put my money where my mouth is, ever... and i was really thinking this would be a very long term play, not expecting much return for a decade or so. the desalinization angle was my reason for buying it.
0 · Reply
Thestocktraderhubzee
Thestocktraderhubzee Aug. 13 at 5:32 PM
$CWCO Roth Capital Maintains Buy on Consolidated Water Co, Raises Price Target to $40
0 · Reply
ZacksResearch
ZacksResearch Aug. 12 at 5:42 PM
$CWCO crushes Q2 with a 60% EPS beat 💧📈 Revenue grew 6.3% year over year, fueled by stronger retail sales momentum. Full earnings recap here 👉 https://www.zacks.com/stock/news/2703148/consolidated-water-q2-earnings-and-sales-surpass-estimates?cid=sm-stocktwits-2-2703148-teaser-7491&ADID=SYND_STOCKTWITS_TWEET_2_2703148_TEASER_7491
1 · Reply
ZacksResearch
ZacksResearch Aug. 12 at 4:42 PM
$CWCO beats Q2 EPS estimates by 60%! 🚀 💧 EPS of 32 cents vs. 20-cent estimate 📈 Total revenues rise 6.3% YoY due to Retail and Manufacturing segments 💰 Cash reserves jump to $112.3M Discover the full earnings breakdown here 👉 https://www.zacks.com/stock/news/2703148/consolidated-water-q2-earnings-and-sales-surpass-estimates?cid=sm-stocktwits-2-2703148-body-7486&ADID=SYND_STOCKTWITS_TWEET_2_2703148_BODY_7486
0 · Reply
NVDAMillionaire
NVDAMillionaire Jul. 29 at 9:48 PM
$CWCO Outstanding article that hits the mark on CWCO's current state. So if you want to refresh your CWCO insights or learn about CWCO from scratch, this is a must read. https://beyondspx.com/article/consolidated-water-desalination-expertise-fuels-growth-amidst-global-water-scarcity-nasdaq-cwco
1 · Reply
ZacksResearch
ZacksResearch Jul. 10 at 2:32 PM
$CWCO surges 26.8% in 3 months — is the tide turning for this water stock? 🌊 🚰 Reverse Osmosis Technology supporting desalination capabilities 🏝️ Efforts to boost existing operations in Cayman Islands & Bahamas despite receivables risk ⚖️ Zacks Rank #3 (Hold) — steady but cautious outlook See what makes the investment case strong for CWCO 👉 https://www.zacks.com/stock/news/2570789/consolidated-water-benefits-from-new-technology-and-growing-business?cid=sm-stocktwits-2-2570789-body-1175&ADID=SYND_STOCKTWITS_TWEET_2_2570789_BODY_1175
0 · Reply
ZacksResearch
ZacksResearch Jul. 10 at 11:31 AM
$CWCO quietly leveling up with tech upgrades 💡 The company is benefiting from deploying advanced technology to boost service efficiency — a key edge as its business expands. Discover what’s driving growth for CWCO 👉 https://www.zacks.com/stock/news/2570789/consolidated-water-benefits-from-new-technology-and-growing-business?cid=sm-stocktwits-2-2570789-teaser&ADID=SYND_STOCKTWITS_TWEET_2_2570789_TEASER
0 · Reply
bdubdc
bdubdc Jun. 29 at 3:15 PM
$CWCO anyone else notice they upped the divvie payout over 25% for this next round?
0 · Reply
PenkeTrading
PenkeTrading Jun. 24 at 10:55 AM
I found you an Overbought RSI (Relative Strength Index) on the daily chart of Consolidated Water Co Ltd. Is that bullish or bearish? $CWCO #RsiOverbought #NASDAQ
0 · Reply
BRITLS
BRITLS Jun. 23 at 8:45 PM
$CWCO crazy ride.
0 · Reply
ZacksResearch
ZacksResearch Jun. 3 at 4:34 PM
$CWCO hikes dividend 47.4% from Q3 2024 — sustainable growth or a one-off? 📈💧 The company's strong financial performance and recent Mexico arbitration settlement have boosted cash flow, prompting this hefty increase. Plus, CWCO's expansion projects, like the $204M Hawaii venture, are set to drive future growth. Find out if CWCO's dividend momentum can continue 👉 https://www.zacks.com/commentary/2483608/consolidated-water-raises-shareholders-value-hikes-dividend-by-474?cid=sm-stocktwits-2-2483608-body&ADID=SYND_STOCKTWITS_TWEET_2_2483608_BODY
0 · Reply
ZacksResearch
ZacksResearch Jun. 3 at 3:01 PM
$CWCO just hiked its dividend by 47.4% — what’s driving the surge? Desalination growth and service expansion are fueling momentum and boosting shareholder value in a big way. Find out what could drive CWCO’s next breakout 👉 https://www.zacks.com/stock/news/2483608/consolidated-water-raises-shareholders-value-hikes-dividend-by-474?cid=sm-stocktwits-2-2483608-teaser&ADID=SYND_STOCKTWITS_TWEET_2_2483608_TEASER
0 · Reply
UncleStock
UncleStock May. 29 at 9:21 AM
$CWCO $EE $ATO $ARIS suggested for Gas, Water and Multi-utilities - value screen: https://zpr.io/6e6KenxyAUuT
0 · Reply
UncleStock
UncleStock May. 26 at 12:08 PM
$CWCO $EE $ATO $ARIS suggested for Gas, Water and Multi-utilities - value screen: https://zpr.io/6e6KenxyAUuT
0 · Reply
UncleStock
UncleStock May. 25 at 12:24 AM
$CWCO $ARIS $ARTNA suggested for #Water - value screen: https://zpr.io/HPxFV
0 · Reply
jstep128
jstep128 May. 22 at 5:40 PM
$SYM and $CWCO 2 absolute fucking long term beasts
1 · Reply
UncleStock
UncleStock May. 22 at 6:24 AM
$CWCO $ARIS $ARTNA suggested for #Water - value screen: https://zpr.io/HPxFV
0 · Reply
jstep128
jstep128 May. 21 at 10:50 AM
$CWCO $SYM $QBTS $QURE $VTSI My long term golden stocks
0 · Reply
hgarrett
hgarrett May. 19 at 3:47 PM
$ARTNA $SBS $ARIS $CWCO water good
0 · Reply
BRITLS
BRITLS May. 14 at 12:03 AM
$CWCO quite the roller coaster today
0 · Reply