Consolidated Water (CWCO) 2019 Earnings Fall Y/Y, Sales Up
Consolidated Water Co. Ltd. CWCO reported 2019 earnings of 56 cents per share, declining 17.7% from the year-ago figure of 68 cents.
GAAP earnings in 2019 were 80 cents compared with 75 cents reported in 2018.
Total Revenues
The company’s total 2019 revenues came in at $68.8 million, up 4.7% from the year-ago figure of $65.7 million.
The year-over-year improvement can be attributed to strong contribution from its Retail and Manufacturing segments.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Consolidated Water Co. Ltd. price-consensus-eps-surprise-chart | Consolidated Water Co. Ltd. Quote
Segment Details
Retail revenues in 2019 increased 3.5% year over year to $26.5 million. This was due to a slight increase in the volume of water sold by Cayman Water and higher energy prices.
Bulk revenues came in at $26.9 million in 2019, down 13.5% from the prior-year figure. The decrease in revenues was due to lower rates.
Manufacturing revenues amounted to $13.6 million, up 86.3% year over year. The year-over-year increase was due to a surge in the number of orders that resulted in expanded project production activity.
Services revenues of $1.7 million were down 5.6% from the year-ago level.
Highlights of the Release
In 2019, total cost of revenues increased 4.1% year over year to $40.5 million.
General and administrative expenses increased 3.2% from the year-ago level to $19.4 million.
As of Dec 31, 2019, Consolidated Water’s cash and cash equivalents totaled $42.9 million, up from $31.3 million in the corresponding period of 2018.
Although the company is concerned of the impact of COVID-19 on the world economy and its business, it remains optimistic about long-term prospects.
Zacks Rank
Currently, Consolidated Water carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Here are some players from the water utility space that have reported fourth-quarter earnings. SJW Group SJW and American States Water Company AWR beat the Zacks Consensus Estimate by 3%, and 9.8%, respectively. However, American Water Works’ AWK earnings were in line with estimates.
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