Connecticut Water Service Inc. reported third-quarter 2017 earnings of 90 cents per share, which surpassed the Zacks Consensus Estimate of 88 cents by 2.3%. Earnings were up 7.1% year over year.
The company is continuing with its inorganic growth strategy. Year to date, it has added 9,500 customers through acquisitions, reflecting a customer base growth of nearly 7.5%.
Total Revenues
In the quarter under review, Connecticut Water’s total revenues were $33.5 million, up 7.1% year over year, primarily on higher contribution from its Water Operation segment.
The year-over-year increase in revenues was due to benefits derived from the acquisition of the Heritage Village Water Company in February 2017 and the Avon Water Company in July 2017. In addition, the recovery of costs for completed infrastructure replacement projects also boosted revenues.
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Connecticut Water Service Inc. reported third-quarter 2017 earnings of 90 cents per share, which surpassed the Zacks Consensus Estimate of 88 cents by 2.3%. Earnings were up 7.1% year over year.
The company is continuing with its inorganic growth strategy. Year to date, it has added 9,500 customers through acquisitions, reflecting a customer base growth of nearly 7.5%.
Total Revenues
In the quarter under review, Connecticut Water’s total revenues were $33.5 million, up 7.1% year over year, primarily on higher contribution from its Water Operation segment.
The year-over-year increase in revenues was due to benefits derived from the acquisition of the Heritage Village Water Company in February 2017 and the Avon Water Company in July 2017. In addition, the recovery of costs for completed infrastructure replacement projects also boosted revenues.
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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