Consolidated Water Co. Ltd. (CWCO - Free Report) reported first-quarter 2019 earnings of 20 cents per share, exceeding both the Zacks Consensus Estimate and the year-ago figure by a penny.
The company’s total revenues in first-quarter 2019 came in at 17 million, up from the year-ago figure of $15 million by 13.3%. Total revenues also surpassed the Zacks Consensus Estimate of $16 million by 6.2%.
The year-over-year improvement can be attributed to better contribution from its manufacturing segment and marginally higher retail revenues.
Retail revenues in first-quarter 2019 increased nearly 4% year over year to $6.7 million.
Bulk revenues came in at $7.5 million in first-quarter 2019, down 4.5% from the prior-year figure.
Manufacturing revenues amounted to nearly $3.1 million, up a whopping 459% year over year.
Services revenues of $0.1 million were down 18.7% from the year-ago level.
Highlights of the Release
In first-quarter 2019, total cost of revenues increased 19.1% year over year to $10 million, owing to increase in costs in Retail and Manufacturing segments.
General and administrative expenses declined 6.1% from the year-ago quarter to $4.7 million.
As of Mar 31, 2019, Consolidated Water’s cash and cash equivalents totaled $38 million, up from $31.3 million on Dec 31, 2018.
Cash provided by operating activities in first-quarter 2019 was $3.7 million compared with $0.7 million in the year-ago period.
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 first-quarter earnings. Global Water Resources (GWRS - Free Report) , SJW Group (SJW - Free Report) and Middlesex Water Company (MSEX - Free Report) beat the Zacks Consensus Estimate by 200%, 86.7% and 25.81%, respectively.
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, our top strategies averaged up to +56.2% per year.
See their latest picks free >>