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Consolidated Water (CWCO) Beats on Q3 Earnings and Revenues

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Consolidated Water (CWCO) Beats on Q3 Earnings and Revenues

Consolidated Water's (CWCO) Q3 earnings and revenues surpass estimates, courtesy of strong performance from its reporting segments.

Consolidated Water Co. Ltd. CWCO reported third-quarter 2018 earnings of 16 cents per share, beating the Zacks Consensus Estimate by a penny.

In the quarter under review, the company’s total revenues were $18.8 million, surpassing the Zacks Consensus Estimate of $15 million by 23.4%. Revenues also improved 13.3% from the year-ago quarter’s $16.6 million. The year-over-year improvement was due to better contribution from all business segments.

Segment Details

Retail revenues in the third quarter were up 10.7% year over year to $6.2 million.

Bulk revenues were $8.6 million, up 8.9% from the prior-year figure.

Manufacturing revenues were nearly $3.3 million, up 8.3% year over year.

Services revenues of $0.8 million were up from the year-ago figure of $0.1 million by 627%.

Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise

Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise | Consolidated Water Co. Ltd. Quote

Highlights of the Release

In the third quarter, total cost of revenues increased 10.1% year over year to $11.3 million, due to increase in costs from all the segments of the company.

It incurred general and administrative expenses of $4.94 million, up 1% from the prior-year figure.

As of Sep 30, 2018, Consolidated Water’s cash and cash equivalents were $34.4 million, down from $47.2 million on Dec 31, 2017.

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 Water Supply Utilities’ Release

Here are some other players from the water utility space that have reported third-quarter earnings. American Water Works Co. AWK, SJW Group SJW and American States Water Company AWR beat the Zacks Consensus Estimate by 3.5%, 12.5% and 3.3%, respectively.

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Consolidated Water Co. Ltd. (CWCO) : Free Stock Analysis Report
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