Consolidated Water Co. Ltd. (CWCO - Free Report) reported second-quarter 2018 earnings of 14 cents per share, missing the Zacks Consensus Estimate of 15 cents by 6.7%.
In the quarter under review, Consolidated Water’s total revenues were $15.9 million, lagging the Zacks Consensus Estimate of $16.0 million by 0.6%. However, revenues improved 3.9% from the year-ago quarter’s $15.73 million. The year-over-year improvement was due to better contribution from its Retail and Bulk Operations.
Retail revenues in the second quarter were up 3.4% year over year to $6.27 million.
Bulk revenues were $8.48 million, up 5% from the prior-year figure.
Manufacturing revenues were nearly $0.99 million, down 6% year over year.
Services revenues of $0.12 million were up from the year-ago figure by 3.1%.
Highlights of the Release
In the second quarter, total cost of revenues increased 5.1% year over year to $9.3 million, mainly due to higher cost of bulk revenues.
Consolidated Water’s gross profit in the quarter under review was $6.6 million, up 2.2% from the prior-year level.
The company incurred general and administrative expenses of $4.5 million, down 8.9% from the prior-year figure.
As of Jun 30, 2018, Consolidated Water’s cash and cash equivalents were $34.1 million, down from $47.2 million on Dec 31, 2017.
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 Water Works Co. (AWK - Free Report) beat the Zacks Consensus Estimate by 2.3%, SJW Group (SJW - Free Report) reported in-line earnings, while American States Water Company (AWR - Free Report) missed the same by 8.3%.
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