Consolidated Water Co. Ltd. CWCO reported first-quarter 2019 earnings of 20 cents per share, exceeding both the Zacks Consensus Estimate and the year-ago figure by a penny.
The company’s total revenues in first-quarter 2019 came in at 17 million, up from the year-ago figure of $15 million by 13.3%. Total revenues also surpassed the Zacks Consensus Estimate of $16 million by 6.2%.
The year-over-year improvement can be attributed to better contribution from its manufacturing segment and marginally higher retail revenues.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Consolidated Water Co. Ltd. price-consensus-eps-surprise-chart | Consolidated Water Co. Ltd. Quote
Retail revenues in first-quarter 2019 increased nearly 4% year over year to $6.7 million.
Bulk revenues came in at $7.5 million in first-quarter 2019, down 4.5% from the prior-year figure.
Manufacturing revenues amounted to nearly $3.1 million, up a whopping 459% year over year.
Services revenues of $0.1 million were down 18.7% from the year-ago level.
Highlights of the Release
In first-quarter 2019, total cost of revenues increased 19.1% year over year to $10 million, owing to increase in costs in Retail and Manufacturing segments.
General and administrative expenses declined 6.1% from the year-ago quarter to $4.7 million.
As of Mar 31, 2019, Consolidated Water’s cash and cash equivalents totaled $38 million, up from $31.3 million on Dec 31, 2018.
Cash provided by operating activities in first-quarter 2019 was $3.7 million compared with $0.7 million in the year-ago period.
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 first-quarter earnings. Global Water Resources GWRS, SJW Group SJW and Middlesex Water Company MSEX beat the Zacks Consensus Estimate by 200%, 86.7% and 25.81%, respectively.
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SJW Group (SJW) : Free Stock Analysis Report
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