Companhia de Saneamento Basico do Estado de Sao Paulo (SBS - Free Report) or SABESP's net income in third-quarter 2019 improved 113.9% year over year to R$1,208.9 million ($290.6 million). The company’s earnings per share totaled R$1.77, up from the year-ago figure of R$0.83.
Considering the ADR equivalent of EPS, the bottom line in the reported quarter was 45 cents, beating the Zacks Consensus Estimate of 22 cents by 104.5%.
Total Revenues
In the reported quarter, SABESP's net operating revenues (including construction sales) were R$5,410.6 million ($1,365 million), up 42% year over year. The figure also surpassed the Zacks Consensus Estimate of $1,000 million by 36.5%.
Highlights of the Release
In the third quarter, costs and expenses — including construction costs — totaled R$2,873.6 million ($724.9 million), increasing 5.7% year over year.
Adjusted earnings before interest, taxes, depreciation and amortization were R$3,009.3 million ($759.2 million), improving 109.8% from the prior-year quarter.
Billed water and sewage volumes in third-quarter 2019 grew 3.8% year over year to 959 million cubic meters.
Guidance
The company expects to invest $4.5 billion (R$18.7 billion) over the 2019-2023 time frame to further strengthen water, sewage collection and sewage treatment units.
Financial Update
Cash and cash equivalents as of Sep 30, 2019 was R$2,633.4 million ($632.9 million) compared with $3,029.1 million on Dec 31, 2018.
Borrowings and financing as of Sep 30, 2019 were R$11,952.7 million ($2,873.1 million) compared with $11,049.2 million on Dec 31, 2018.
Zacks Rank
SABESP currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Here are some other players from the water utility space that have reported third-quarter earnings. American Water Works (AWK - Free Report) and Aqua America, Inc. beat the Zacks Consensus Estimate by 3.1%, and 11.6%, respectively. However, Consolidated Water Co. Ltd. (CWCO - Free Report) reported third-quarter 2019 earnings of 11 cents per share, lagging the Zacks Consensus Estimate of 16 cents.
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Companhia de Saneamento Basico do Estado de Sao Paulo (SBS - Free Report) or SABESP's net income in third-quarter 2019 improved 113.9% year over year to R$1,208.9 million ($290.6 million). The company’s earnings per share totaled R$1.77, up from the year-ago figure of R$0.83.
Considering the ADR equivalent of EPS, the bottom line in the reported quarter was 45 cents, beating the Zacks Consensus Estimate of 22 cents by 104.5%.
Total Revenues
In the reported quarter, SABESP's net operating revenues (including construction sales) were R$5,410.6 million ($1,365 million), up 42% year over year. The figure also surpassed the Zacks Consensus Estimate of $1,000 million by 36.5%.
Highlights of the Release
In the third quarter, costs and expenses — including construction costs — totaled R$2,873.6 million ($724.9 million), increasing 5.7% year over year.
Adjusted earnings before interest, taxes, depreciation and amortization were R$3,009.3 million ($759.2 million), improving 109.8% from the prior-year quarter.
Billed water and sewage volumes in third-quarter 2019 grew 3.8% year over year to 959 million cubic meters.
Guidance
The company expects to invest $4.5 billion (R$18.7 billion) over the 2019-2023 time frame to further strengthen water, sewage collection and sewage treatment units.
Financial Update
Cash and cash equivalents as of Sep 30, 2019 was R$2,633.4 million ($632.9 million) compared with $3,029.1 million on Dec 31, 2018.
Borrowings and financing as of Sep 30, 2019 were R$11,952.7 million ($2,873.1 million) compared with $11,049.2 million on Dec 31, 2018.
Zacks Rank
SABESP currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Here are some other players from the water utility space that have reported third-quarter earnings. American Water Works (AWK - Free Report) and Aqua America, Inc. beat the Zacks Consensus Estimate by 3.1%, and 11.6%, respectively. However, Consolidated Water Co. Ltd. (CWCO - Free Report) reported third-quarter 2019 earnings of 11 cents per share, lagging the Zacks Consensus Estimate of 16 cents.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>
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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