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Consolidated Water (CWCO) Q1 Earnings Beat, Revenues Miss
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Consolidated Water Co. Ltd. (CWCO - Free Report) reported first-quarter 2018 earnings of 19 cents per share, beating the Zacks Consensus Estimate of 18 cents by 5.56%.
Excluding one-time adjustments related to the Rosarito Project, the company reported GAAP earnings of 14 cents. The figure declined 22.2% from the prior-year quarter’s tally.
Total Revenues
In the quarter under review, Consolidated Water’s total revenues were $15.3 million, lagging the Zacks Consensus Estimate of $17.0 million by 10%. Revenues declined 2.2% from the year-ago quarter’s $15.7 million. The downside was caused by lower segment revenues except Bulk Water Operations.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Retail Water Operations revenues in the first quarter were down 0.7% year over year to $6.43 million.
Bulk Water Operations revenues were $8.2 million, up 7% from the prior-year quarter’s figure.
Manufacturing revenues were nearly $0.55 million, down 60% year over year.
Services Operations revenues of $0.12 million were down from the year-ago quarter’s figure by 5%.
Highlights of the Release
In the first quarter, total cost of revenues fell 1.3% year over year to $8.7 million, mainly due to lower cost of revenues in Manufacturing Operations.
Consolidated Water’s gross profit in the quarter under review was $6.6 million, down 3.4% from the prior-year quarter’s level.
The company incurred general and administrative expenses of $4.7 million, down 0.6% from the prior-year quarter’s figure.
As of Mar 31, 2018, Consolidated Water’s cash and cash equivalents were $43.7 million, down from $47.2 million as of Dec 31, 2017.
Zacks Rank
Consolidated Water carries a Zacks Rank #4 (Sell).
Here are some other players from the water utility space that have reported first-quarter earnings so far.
SJW Group (SJW - Free Report) reported in-line earnings while American States Water Company’s (AWR - Free Report) earnings missed the consensus mark.
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Consolidated Water (CWCO) Q1 Earnings Beat, Revenues Miss
Consolidated Water Co. Ltd. (CWCO - Free Report) reported first-quarter 2018 earnings of 19 cents per share, beating the Zacks Consensus Estimate of 18 cents by 5.56%.
Excluding one-time adjustments related to the Rosarito Project, the company reported GAAP earnings of 14 cents. The figure declined 22.2% from the prior-year quarter’s tally.
Total Revenues
In the quarter under review, Consolidated Water’s total revenues were $15.3 million, lagging the Zacks Consensus Estimate of $17.0 million by 10%. Revenues declined 2.2% from the year-ago quarter’s $15.7 million. The downside was caused by lower segment revenues except Bulk Water Operations.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise | Consolidated Water Co. Ltd. Quote
Segment Details
Retail Water Operations revenues in the first quarter were down 0.7% year over year to $6.43 million.
Bulk Water Operations revenues were $8.2 million, up 7% from the prior-year quarter’s figure.
Manufacturing revenues were nearly $0.55 million, down 60% year over year.
Services Operations revenues of $0.12 million were down from the year-ago quarter’s figure by 5%.
Highlights of the Release
In the first quarter, total cost of revenues fell 1.3% year over year to $8.7 million, mainly due to lower cost of revenues in Manufacturing Operations.
Consolidated Water’s gross profit in the quarter under review was $6.6 million, down 3.4% from the prior-year quarter’s level.
The company incurred general and administrative expenses of $4.7 million, down 0.6% from the prior-year quarter’s figure.
As of Mar 31, 2018, Consolidated Water’s cash and cash equivalents were $43.7 million, down from $47.2 million as of Dec 31, 2017.
Zacks Rank
Consolidated Water carries a Zacks Rank #4 (Sell).
Water Utility Releases
American Water Works Co. (AWK - Free Report) , a Zacks Rank #3 (Hold) stock, beat the Zacks Consensus Estimate for first-quarter earnings by 7.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Here are some other players from the water utility space that have reported first-quarter earnings so far.
SJW Group (SJW - Free Report) reported in-line earnings while American States Water Company’s (AWR - Free Report) earnings missed the consensus mark.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>