Consolidated Water Co. Ltd. (CWCO - Free Report) reported second-quarter 2017 earnings of 11 cents per share, lagging the Zacks Consensus Estimate of 16 cents by 31.2%.
Total Revenue
In the quarter under review, Consolidated Water’s total revenue was $15.3 million, lagging the Zacks Consensus Estimate of $16.0 million by 4.4%. Reported revenues were also marginally lower than the year-ago figure of $15.4 million.
The year-over-year decline in revenues was primarily due to lower contribution from retail, services and manufacturing segments, which was marginally offset by higher revenues from the bulk segment.
Segment Details
Retail Water Operations revenues in the second quarter were down 3.9% year over year to $6.03 million.
Bulk Water Operations revenues were up 8.1% year over year to $8.04 million.
Manufacturing revenues were $1.05 million, down 16.2% year over year.
Services Operations revenues of $0.23 million were down from the year-ago figure of $0.40 million.
Highlights of the Release
In the second quarter, total cost of revenues increased 1.0% year over year to $8.76 million, mainly due to higher cost of revenues from Retail and Bulk Water Operations, partially offset by lower cost of Services revenues and Manufacturing revenues.
Consolidated Water’s gross profit in the second quarter was $6.49 million, down 3.1% from the prior-year quarter.
Moreover, the company incurred general and administrative expenses of $4.96 million, up 1.4% year over year.
Financial Update
As of Jun 30, 2017, Consolidated Water’s cash and cash equivalents were $45.9 million, up from $39.3 million as of Dec 31, 2016.
Zacks Rank
Consolidated Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of the Peers
Among the other companies in the same industry, American States Water Company (AWR - Free Report) and Connecticut Water Service Inc.’s second-quarter earnings surpassed the Zacks Consensus Estimate while Aqua America Inc.’s earnings were on par.
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Consolidated Water Co. Ltd. (CWCO - Free Report) reported second-quarter 2017 earnings of 11 cents per share, lagging the Zacks Consensus Estimate of 16 cents by 31.2%.
Total Revenue
In the quarter under review, Consolidated Water’s total revenue was $15.3 million, lagging the Zacks Consensus Estimate of $16.0 million by 4.4%. Reported revenues were also marginally lower than the year-ago figure of $15.4 million.
The year-over-year decline in revenues was primarily due to lower contribution from retail, services and manufacturing segments, which was marginally offset by higher revenues from the bulk segment.
Segment Details
Retail Water Operations revenues in the second quarter were down 3.9% year over year to $6.03 million.
Bulk Water Operations revenues were up 8.1% year over year to $8.04 million.
Manufacturing revenues were $1.05 million, down 16.2% year over year.
Services Operations revenues of $0.23 million were down from the year-ago figure of $0.40 million.
Highlights of the Release
In the second quarter, total cost of revenues increased 1.0% year over year to $8.76 million, mainly due to higher cost of revenues from Retail and Bulk Water Operations, partially offset by lower cost of Services revenues and Manufacturing revenues.
Consolidated Water’s gross profit in the second quarter was $6.49 million, down 3.1% from the prior-year quarter.
Moreover, the company incurred general and administrative expenses of $4.96 million, up 1.4% year over year.
Financial Update
As of Jun 30, 2017, Consolidated Water’s cash and cash equivalents were $45.9 million, up from $39.3 million as of Dec 31, 2016.
Zacks Rank
Consolidated Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of the Peers
Among the other companies in the same industry, American States Water Company (AWR - Free Report) and Connecticut Water Service Inc.’s second-quarter earnings surpassed the Zacks Consensus Estimate while Aqua America Inc.’s earnings were on par.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Learn more >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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