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What's in Store for Consolidated Water (CWCO) in Q1 Earnings?
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Consolidated Water Co. Ltd. (CWCO - Free Report) is scheduled to release first-quarter 2024 results on May 15 after market close.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Consolidated Water’s diversified revenue stream is expected to have a positive impact on the overall results.
During the fourth quarter of 2023, Consolidated Water’s wholly owned subsidiary, PERC Water Corporation (“PERC”), acquired a 100% ownership interest in Ramey Environmental Compliance. This acquisition provides a new channel for PERC to expand its existing footprint into additional water-stressed regions across Colorado. This is expected to boost first-quarter earnings.
PERC’s two contracts to operate water facilities in California, which began in July 2023, are also likely to have positively impacted revenues.
Improved tourist activity in its service regions is expected to boost demand and contribute to the to-be-reported earnings.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 39 cents per share, which indicates a year-over-year increase of 50%.
The Zacks Consensus Estimate for revenues stands at $38.65 million, which calls for a year-over-year improvement of 17.6%.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Consolidated Water this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) increases the odds of an earnings beat, which is the case here, as you will see below.
Consolidated Water Co. Ltd. Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is +2.56%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
American States Water Company (AWR - Free Report) reported first-quarter 2024 operating earnings per share (EPS) of 62 cents, which beat the Zacks Consensus Estimate of 59 cents by 5.1%.
AWR’s long-term (three to five years) earnings growth rate is 6.3%. The Zacks Consensus Estimate for earnings is pegged at $1.8 per share, which indicates a year-over-year increase of 3.5%.
California Water Service Group (CWT - Free Report) recorded a first-quarter 2024 adjusted EPS of $1.21, which surpassed the Zacks Consensus Estimate of 21 cents by 476.2%.
The Zacks Consensus Estimate for 2024 earnings is pegged at $3.15 per share, which implies year-over-year growth of 246.2%. It delivered an average earnings surprise of 85.2% in the last four quarters.
SJW Group (SJW - Free Report) reported a first-quarter operating EPS of 36 cents, which beat the Zacks Consensus Estimate of 35 cents by 2.9%.
SJW’s long-term earnings growth rate is 7.5%. The Zacks Consensus Estimate for 2024 earnings stands at $2.75 per share, which calls for year-over-year growth of 2.6%.
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What's in Store for Consolidated Water (CWCO) in Q1 Earnings?
Consolidated Water Co. Ltd. (CWCO - Free Report) is scheduled to release first-quarter 2024 results on May 15 after market close.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Consolidated Water’s diversified revenue stream is expected to have a positive impact on the overall results.
During the fourth quarter of 2023, Consolidated Water’s wholly owned subsidiary, PERC Water Corporation (“PERC”), acquired a 100% ownership interest in Ramey Environmental Compliance. This acquisition provides a new channel for PERC to expand its existing footprint into additional water-stressed regions across Colorado. This is expected to boost first-quarter earnings.
PERC’s two contracts to operate water facilities in California, which began in July 2023, are also likely to have positively impacted revenues.
Improved tourist activity in its service regions is expected to boost demand and contribute to the to-be-reported earnings.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 39 cents per share, which indicates a year-over-year increase of 50%.
The Zacks Consensus Estimate for revenues stands at $38.65 million, which calls for a year-over-year improvement of 17.6%.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Consolidated Water this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) increases the odds of an earnings beat, which is the case here, as you will see below.
Consolidated Water Co. Ltd. Price and EPS Surprise
Consolidated Water Co. Ltd. price-eps-surprise | Consolidated Water Co. Ltd. Quote
Earnings ESP: The company’s Earnings ESP is +2.56%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Consolidated Water carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Recent Releases
American States Water Company (AWR - Free Report) reported first-quarter 2024 operating earnings per share (EPS) of 62 cents, which beat the Zacks Consensus Estimate of 59 cents by 5.1%.
AWR’s long-term (three to five years) earnings growth rate is 6.3%. The Zacks Consensus Estimate for earnings is pegged at $1.8 per share, which indicates a year-over-year increase of 3.5%.
California Water Service Group (CWT - Free Report) recorded a first-quarter 2024 adjusted EPS of $1.21, which surpassed the Zacks Consensus Estimate of 21 cents by 476.2%.
The Zacks Consensus Estimate for 2024 earnings is pegged at $3.15 per share, which implies year-over-year growth of 246.2%. It delivered an average earnings surprise of 85.2% in the last four quarters.
SJW Group (SJW - Free Report) reported a first-quarter operating EPS of 36 cents, which beat the Zacks Consensus Estimate of 35 cents by 2.9%.
SJW’s long-term earnings growth rate is 7.5%. The Zacks Consensus Estimate for 2024 earnings stands at $2.75 per share, which calls for year-over-year growth of 2.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.