Cosan Limited’s adjusted net income totaled R$112.8 million ($28.7 million) in second-quarter 2019 compared with the year-ago tally of R$113.7 million ($31.6 million). Net income significantly surged to R$208.4 million ($53.2 million) from R$22.7($6.3 million) recorded in the year-ago quarter.
Revenues Increase Y/Y
In the reported quarter, Cosan’s net revenues came in at R$19,338.5 million ($4,933 million), reflecting year-over-year growth of 28.3%.
Gross Margins Up Y/Y Despite Higher Costs
Cosan’s cost of sales and services sold in the June-end quarter marked a 27% year-over-year rise to R$16,998.5 million ($4,336 million). It represents 87% of net revenues versus 88% witnessed in the year-ago quarter. Gross profit increased 38.2% year over year to R$2,340 million ($597 million), while gross margin came in at 12% compared with 11.2% witnessed in the comparable period last year.
Selling, general and administrative expenses flared up 20.7% year over year to R$1,064.6 million ($271.5 million), representing 5.5% of net revenues.
Balance Sheet
Exiting the April-June quarter, Cosan’s cash and cash equivalents were R$7,071 million ($1,837.8 million), down from R$7,532 million ($2,279 million) reported at the end of the first quarter of 2019. Loans and borrowings were up 2% to R$33,626 million ($8,739.8 million) from R$32,942 million ($9,967.6 million) as of March-end 2018.
Share Price Performance
Over the past year, Cosan has outperformed its industry with respect to price performance. The stock has soared around 88.3%, while the industry has declined 3.2% during the same time frame.
Zacks Rank & Other Stocks to Consider
Cosan currently sports a Zacks Rank #1 (Strong Buy).
Few other top-ranked stocks in the basic materials space are Kinross Gold Corporation (KGC - Free Report) , Alamos Gold Inc (AGI - Free Report) and Arconic Inc , all flaunting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross has an expected earnings growth rate of a whopping 140% for 2019. The company’s shares have surged 69.9% over the past year.
Alamos Gold has an outstanding projected earnings growth rate of 280% for the current year. The company’s shares have appreciated 57% in a year’s time.
Arconic has an estimated earnings growth rate of 42.7% for the ongoing year. Its shares have rallied 24.9% in the past year.
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Cosan Limited’s adjusted net income totaled R$112.8 million ($28.7 million) in second-quarter 2019 compared with the year-ago tally of R$113.7 million ($31.6 million). Net income significantly surged to R$208.4 million ($53.2 million) from R$22.7($6.3 million) recorded in the year-ago quarter.
Revenues Increase Y/Y
In the reported quarter, Cosan’s net revenues came in at R$19,338.5 million ($4,933 million), reflecting year-over-year growth of 28.3%.
Gross Margins Up Y/Y Despite Higher Costs
Cosan’s cost of sales and services sold in the June-end quarter marked a 27% year-over-year rise to R$16,998.5 million ($4,336 million). It represents 87% of net revenues versus 88% witnessed in the year-ago quarter. Gross profit increased 38.2% year over year to R$2,340 million ($597 million), while gross margin came in at 12% compared with 11.2% witnessed in the comparable period last year.
Selling, general and administrative expenses flared up 20.7% year over year to R$1,064.6 million ($271.5 million), representing 5.5% of net revenues.
Balance Sheet
Exiting the April-June quarter, Cosan’s cash and cash equivalents were R$7,071 million ($1,837.8 million), down from R$7,532 million ($2,279 million) reported at the end of the first quarter of 2019. Loans and borrowings were up 2% to R$33,626 million ($8,739.8 million) from R$32,942 million ($9,967.6 million) as of March-end 2018.
Share Price Performance
Over the past year, Cosan has outperformed its industry with respect to price performance. The stock has soared around 88.3%, while the industry has declined 3.2% during the same time frame.
Zacks Rank & Other Stocks to Consider
Cosan currently sports a Zacks Rank #1 (Strong Buy).
Few other top-ranked stocks in the basic materials space are Kinross Gold Corporation (KGC - Free Report) , Alamos Gold Inc (AGI - Free Report) and Arconic Inc , all flaunting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross has an expected earnings growth rate of a whopping 140% for 2019. The company’s shares have surged 69.9% over the past year.
Alamos Gold has an outstanding projected earnings growth rate of 280% for the current year. The company’s shares have appreciated 57% in a year’s time.
Arconic has an estimated earnings growth rate of 42.7% for the ongoing year. Its shares have rallied 24.9% in the past year.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year
See their latest picks free >>
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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