Consolidated Water (CWCO) Beats On Q3 Earnings And Revenues

Consolidated Water Co. Ltd. (NASDAQ: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%.

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. (NYSE:AWK) , SJW Group (NYSE:SJW) and American States Water Company (NYSE:AWR) beat the Zacks Consensus Estimate by 3.5%, 12.5% and 3.3%, respectively.

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