We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Consolidated Water (CWCO) 2021 Earnings Lag, Sales Beat Mark
Read MoreHide Full Article
Consolidated Water Co. Ltd. (CWCO - Free Report) reported 2021 operating earnings per share (EPS) of 23 cents, down 58.9% year over year from 56 cents.
Total Revenues
The company’s total revenues for 2021 came in at $66.9 million, down 7.9% from the year-ago figure of $72.6 million. However, total revenues surpassed the Zacks Consensus Estimate by 1.4%.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Retail revenues for 2021 decreased 3.7% year over year to $22.1 million. This reflects a 4% decrease in the volume of water sold by Cayman Water due to the closing of Grand Cayman Island to tourists in March 2020 due to the pandemic.
Bulk revenues came in at $24.3 million in 2021, up 10.3% from the prior-year figure. The increase in revenues was due to an increase in energy costs for CW-Bahamas, which increased the energy pass-through component of CW-Bahamas’ rates and, to a lesser extent, a 5% increase in the volume of water sold by CW-Bahamas.
Manufacturing revenues amounted to $4.1 million in 2021, down 67% year over year. The year-over-year decline was due to the loss of orders from Aerex’s former largest customer.
Services revenues were $13.9 million for 2021, up 7.4% year over year. The year-over-year improvement was due to an increase of approximately $3.2 million from operating and maintenance contracts attributable to new contracts, which more than offset a decline in plant construction revenues.
Other Details
General and administrative expenses for 2021 were down 0.46% from the year-ago level to $18.4 million.
Interest income for 2021 was $0.68 million, up 26% from the year-ago figure of $0.54 million.
Financial Highlights
Cash and cash equivalents as of Dec 31, 2021 were $40.4 million, down from $43.8 million in the corresponding period of 2020.
Long-term debt as of Dec 31, 2020 was $0.15 million compared with $0.13million as of Dec 31, 2020.
Cash provided from operating activities in 2021 was $7 million compared with $17.3 million as of Dec 31, 2020.
Other Releases
York Water (YORW - Free Report) reported quarterly earnings of 0.31 cents per share, beating the Zacks Consensus Estimate of 0.28 cents, compared with earnings of 0.28 cents per share a year ago.
The Zacks Consensus Estimate for York Water’s 2022 and 2023 EPS implies year-over-year growth of 6.15% and 14.74%, respectively.
American States Water Company (AWR - Free Report) reported fourth-quarter 2021 operating EPS of 55 cents, which surpassed the Zacks Consensus Estimate of 50 cents by 10%. The bottom line also improved 1.9% from the year-ago quarter’s earnings of 54 cents per share.
The Zacks Consensus Estimate for American States Water Company’s 2022 and 2023 EPS implies year-over-year growth of 6.48% and 5.13%, respectively.
Essential Utilities Inc. (WTRG - Free Report) reported fourth-quarter 2021 operating EPS of 44 cents, which surpassed the Zacks Consensus Estimate of 43 cents by 2.3%. However, the bottom line narrowed 4.3% from the year-ago quarter’s earnings of 46 cents per share.
The Zacks Consensus Estimate for Essential Utilities’ 2022 and 2023 EPS implies year-over-year growth of 6.59% and 7.16%, respectively.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Consolidated Water (CWCO) 2021 Earnings Lag, Sales Beat Mark
Consolidated Water Co. Ltd. (CWCO - Free Report) reported 2021 operating earnings per share (EPS) of 23 cents, down 58.9% year over year from 56 cents.
Total Revenues
The company’s total revenues for 2021 came in at $66.9 million, down 7.9% from the year-ago figure of $72.6 million. However, total revenues surpassed the Zacks Consensus Estimate by 1.4%.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Consolidated Water Co. Ltd. price-consensus-eps-surprise-chart | Consolidated Water Co. Ltd. Quote
Segment Details
Retail revenues for 2021 decreased 3.7% year over year to $22.1 million. This reflects a 4% decrease in the volume of water sold by Cayman Water due to the closing of Grand Cayman Island to tourists in March 2020 due to the pandemic.
Bulk revenues came in at $24.3 million in 2021, up 10.3% from the prior-year figure. The increase in revenues was due to an increase in energy costs for CW-Bahamas, which increased the energy pass-through component of CW-Bahamas’ rates and, to a lesser extent, a 5% increase in the volume of water sold by CW-Bahamas.
Manufacturing revenues amounted to $4.1 million in 2021, down 67% year over year. The year-over-year decline was due to the loss of orders from Aerex’s former largest customer.
Services revenues were $13.9 million for 2021, up 7.4% year over year. The year-over-year improvement was due to an increase of approximately $3.2 million from operating and maintenance contracts attributable to new contracts, which more than offset a decline in plant construction revenues.
Other Details
General and administrative expenses for 2021 were down 0.46% from the year-ago level to $18.4 million.
Interest income for 2021 was $0.68 million, up 26% from the year-ago figure of $0.54 million.
Financial Highlights
Cash and cash equivalents as of Dec 31, 2021 were $40.4 million, down from $43.8 million in the corresponding period of 2020.
Long-term debt as of Dec 31, 2020 was $0.15 million compared with $0.13million as of Dec 31, 2020.
Cash provided from operating activities in 2021 was $7 million compared with $17.3 million as of Dec 31, 2020.
Other Releases
York Water (YORW - Free Report) reported quarterly earnings of 0.31 cents per share, beating the Zacks Consensus Estimate of 0.28 cents, compared with earnings of 0.28 cents per share a year ago.
The Zacks Consensus Estimate for York Water’s 2022 and 2023 EPS implies year-over-year growth of 6.15% and 14.74%, respectively.
American States Water Company (AWR - Free Report) reported fourth-quarter 2021 operating EPS of 55 cents, which surpassed the Zacks Consensus Estimate of 50 cents by 10%. The bottom line also improved 1.9% from the year-ago quarter’s earnings of 54 cents per share.
The Zacks Consensus Estimate for American States Water Company’s 2022 and 2023 EPS implies year-over-year growth of 6.48% and 5.13%, respectively.
Essential Utilities Inc. (WTRG - Free Report) reported fourth-quarter 2021 operating EPS of 44 cents, which surpassed the Zacks Consensus Estimate of 43 cents by 2.3%. However, the bottom line narrowed 4.3% from the year-ago quarter’s earnings of 46 cents per share.
The Zacks Consensus Estimate for Essential Utilities’ 2022 and 2023 EPS implies year-over-year growth of 6.59% and 7.16%, respectively.