Consolidated Water Co. Ltd. (CWCO - Free Report) reported second-quarter 2019 earnings of 16 cents per share, lagging the Zacks Consensus Estimate by a penny but increasing from the year-ago figure of 12 cents by 33.3%.
The company’s total revenues in second-quarter 2019 came in at $18.3 million, up from the year-ago figure of $15.1 million by 21.2%. Total revenues also surpassed the Zacks Consensus Estimate of $17 million by 7.6%.
The year-over-year improvement can be attributed to greater contribution from its manufacturing segment and higher retail revenues.
Retail revenues in second-quarter 2019 increased nearly 11.3% year over year to $6.98 million.
Bulk revenues came in at $6.9 million in second-quarter 2019, down 9.6% from the prior-year figure.
Manufacturing revenues amounted to nearly $4.3 million, up a whopping 330% year over year.
Services revenues of $0.1 million were down 26.1% from the year-ago level.
Highlights of the Release
In second-quarter 2019, total cost of revenues increased 21.2% year over year to $10.8 million.
General and administrative expenses increased 12.4% from the year-ago quarter to $4.9 million.
Income from operations in the reported quarter was $2.95 million, up 70.5% year over year.
As of Jun 30, 2019, Consolidated Water’s cash and cash equivalents totaled $41.9 million, up from $31.3 million on Dec 31, 2018.
Cash provided (used in) by operating activities in first-half 2019 was $6.1 million versus ($8.1) million in the comparable 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 second-quarter earnings. American States Water (AWR - Free Report) , SJW Group (SJW - Free Report) and Connecticut Water Service, Inc. beat the Zacks Consensus Estimate by 23.1%, 9.4% and 1.5%, respectively.
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