Consolidated Water Co. Ltd. (CWCO - Free Report) reported second-quarter 2019 earnings of 16 cents per share, lagging the Zacks Consensus Estimate by a penny but increasing from the year-ago figure of 12 cents by 33.3%.
Total Revenues
The company’s total revenues in second-quarter 2019 came in at $18.3 million, up from the year-ago figure of $15.1 million by 21.2%. Total revenues also surpassed the Zacks Consensus Estimate of $17 million by 7.6%.
The year-over-year improvement can be attributed to greater contribution from its manufacturing segment and higher retail revenues.
Segment Details
Retail revenues in second-quarter 2019 increased nearly 11.3% year over year to $6.98 million.
Bulk revenues came in at $6.9 million in second-quarter 2019, down 9.6% from the prior-year figure.
Manufacturing revenues amounted to nearly $4.3 million, up a whopping 330% year over year.
Services revenues of $0.1 million were down 26.1% from the year-ago level.
Highlights of the Release
In second-quarter 2019, total cost of revenues increased 21.2% year over year to $10.8 million.
General and administrative expenses increased 12.4% from the year-ago quarter to $4.9 million.
Income from operations in the reported quarter was $2.95 million, up 70.5% year over year.
Financial Highlights
As of Jun 30, 2019, Consolidated Water’s cash and cash equivalents totaled $41.9 million, up from $31.3 million on Dec 31, 2018.
Cash provided (used in) by operating activities in first-half 2019 was $6.1 million versus ($8.1) million in the comparable year-ago period.
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 second-quarter earnings. American States Water (AWR - Free Report) , SJW Group (SJW - Free Report) and Connecticut Water Service, Inc. beat the Zacks Consensus Estimate by 23.1%, 9.4% and 1.5%, respectively.
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Consolidated Water Co. Ltd. (CWCO - Free Report) reported second-quarter 2019 earnings of 16 cents per share, lagging the Zacks Consensus Estimate by a penny but increasing from the year-ago figure of 12 cents by 33.3%.
Total Revenues
The company’s total revenues in second-quarter 2019 came in at $18.3 million, up from the year-ago figure of $15.1 million by 21.2%. Total revenues also surpassed the Zacks Consensus Estimate of $17 million by 7.6%.
The year-over-year improvement can be attributed to greater contribution from its manufacturing segment and higher retail revenues.
Segment Details
Retail revenues in second-quarter 2019 increased nearly 11.3% year over year to $6.98 million.
Bulk revenues came in at $6.9 million in second-quarter 2019, down 9.6% from the prior-year figure.
Manufacturing revenues amounted to nearly $4.3 million, up a whopping 330% year over year.
Services revenues of $0.1 million were down 26.1% from the year-ago level.
Highlights of the Release
In second-quarter 2019, total cost of revenues increased 21.2% year over year to $10.8 million.
General and administrative expenses increased 12.4% from the year-ago quarter to $4.9 million.
Income from operations in the reported quarter was $2.95 million, up 70.5% year over year.
Financial Highlights
As of Jun 30, 2019, Consolidated Water’s cash and cash equivalents totaled $41.9 million, up from $31.3 million on Dec 31, 2018.
Cash provided (used in) by operating activities in first-half 2019 was $6.1 million versus ($8.1) million in the comparable year-ago period.
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 second-quarter earnings. American States Water (AWR - Free Report) , SJW Group (SJW - Free Report) and Connecticut Water Service, Inc. beat the Zacks Consensus Estimate by 23.1%, 9.4% and 1.5%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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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