Consolidated Water Co. Ltd. (CWCO - Free Report) reported 2018 earnings of 68 cents per share, beating the year-ago figure of 34 cents by 100%.
The company’s total revenues in 2018 came in at $65.7 million, surpassing the year-ago figure of $59.4 million. The year-over-year improvement can be attributed to better contribution from all its business segments.
Retail revenues in 2018 increased 10.3% year over year to $25.6 million.
Bulk revenues came in at $31 million in 2018, up 8% from the prior-year figure.
Manufacturing revenues amounted to nearly $7.3 million, up 4.3% year over year.
Services revenues of $1.8 million were up from the year-ago level by 260%.
Highlights of the Release
In 2018, total cost of revenues increased 9.9% year over year to $38 million, owing to increase in costs from all the segments (except manufacturing) of the company.
General and administrative expenses increased marginally by 0.1% from a year ago to $18.7 million.
As of Dec 31, 2018, Consolidated Water’s cash and cash equivalents totaled $31.3 million, down from $45.8 million in the corresponding period of 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 players from the water utility space that have reported fourth-quarter earnings. California Water Service Group (CWT - Free Report) , SJW Group (SJW - Free Report) and Middlesex Water Company (MSEX - Free Report) beat the Zacks Consensus Estimate by 14.3%, 25% and 2.4%, respectively.
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