Consolidated Water (CWCO) Q2 Earnings Miss, Revenues Up Y/Y
Consolidated Water Co. Ltd. CWCO reported second-quarter 2018 earnings of 14 cents per share, missing the Zacks Consensus Estimate of 15 cents by 6.7%.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise | Consolidated Water Co. Ltd. Quote
In the quarter under review, Consolidated Water’s total revenues were $15.9 million, lagging the Zacks Consensus Estimate of $16.0 million by 0.6%. However, revenues improved 3.9% from the year-ago quarter’s $15.73 million. The year-over-year improvement was due to better contribution from its Retail and Bulk Operations.
Retail revenues in the second quarter were up 3.4% year over year to $6.27 million.
Bulk revenues were $8.48 million, up 5% from the prior-year figure.
Manufacturing revenues were nearly $0.99 million, down 6% year over year.
Services revenues of $0.12 million were up from the year-ago figure by 3.1%.
Highlights of the Release
In the second quarter, total cost of revenues increased 5.1% year over year to $9.3 million, mainly due to higher cost of bulk revenues.
Consolidated Water’s gross profit in the quarter under review was $6.6 million, up 2.2% from the prior-year level.
The company incurred general and administrative expenses of $4.5 million, down 8.9% from the prior-year figure.
As of Jun 30, 2018, Consolidated Water’s cash and cash equivalents were $34.1 million, down from $47.2 million on Dec 31, 2017.
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 second-quarter earnings:
American Water Works Co. AWK beat the Zacks Consensus Estimate by 2.3%, SJW Group SJW reported in-line earnings, while American States Water Company AWR missed the same by 8.3%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Water Works (AWK) : Free Stock Analysis Report
Consolidated Water Co. Ltd. (CWCO) : Free Stock Analysis Report
SJW Corporation (SJW) : Free Stock Analysis Report
American States Water Company (AWR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research