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Cosan's (CZZ) Net Income Improves Y/Y on Solid Sales in Q2
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Cosan Limited’s adjusted net income totaled R$112.8 million ($28.7 million) in second-quarter 2019 compared with the year-ago tally of R$113.7 million ($31.6 million). Net income significantly surged to R$208.4 million ($53.2 million) from R$22.7($6.3 million) recorded in the year-ago quarter.
Revenues Increase Y/Y
In the reported quarter, Cosan’s net revenues came in at R$19,338.5 million ($4,933 million), reflecting year-over-year growth of 28.3%.
Gross Margins Up Y/Y Despite Higher Costs
Cosan’s cost of sales and services sold in the June-end quarter marked a 27% year-over-year rise to R$16,998.5 million ($4,336 million). It represents 87% of net revenues versus 88% witnessed in the year-ago quarter. Gross profit increased 38.2% year over year to R$2,340 million ($597 million), while gross margin came in at 12% compared with 11.2% witnessed in the comparable period last year.
Selling, general and administrative expenses flared up 20.7% year over year to R$1,064.6 million ($271.5 million), representing 5.5% of net revenues.
Balance Sheet
Exiting the April-June quarter, Cosan’s cash and cash equivalents were R$7,071 million ($1,837.8 million), down from R$7,532 million ($2,279 million) reported at the end of the first quarter of 2019. Loans and borrowings were up 2% to R$33,626 million ($8,739.8 million) from R$32,942 million ($9,967.6 million) as of March-end 2018.
Share Price Performance
Over the past year, Cosan has outperformed its industry with respect to price performance. The stock has soared around 88.3%, while the industry has declined 3.2% during the same time frame.
Zacks Rank & Other Stocks to Consider
Cosan currently sports a Zacks Rank #1 (Strong Buy).
Kinross has an expected earnings growth rate of a whopping 140% for 2019. The company’s shares have surged 69.9% over the past year.
Alamos Gold has an outstanding projected earnings growth rate of 280% for the current year. The company’s shares have appreciated 57% in a year’s time.
Arconic has an estimated earnings growth rate of 42.7% for the ongoing year. Its shares have rallied 24.9% in the past year.
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This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year
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Cosan's (CZZ) Net Income Improves Y/Y on Solid Sales in Q2
Cosan Limited’s adjusted net income totaled R$112.8 million ($28.7 million) in second-quarter 2019 compared with the year-ago tally of R$113.7 million ($31.6 million). Net income significantly surged to R$208.4 million ($53.2 million) from R$22.7($6.3 million) recorded in the year-ago quarter.
Revenues Increase Y/Y
In the reported quarter, Cosan’s net revenues came in at R$19,338.5 million ($4,933 million), reflecting year-over-year growth of 28.3%.
Gross Margins Up Y/Y Despite Higher Costs
Cosan’s cost of sales and services sold in the June-end quarter marked a 27% year-over-year rise to R$16,998.5 million ($4,336 million). It represents 87% of net revenues versus 88% witnessed in the year-ago quarter. Gross profit increased 38.2% year over year to R$2,340 million ($597 million), while gross margin came in at 12% compared with 11.2% witnessed in the comparable period last year.
Selling, general and administrative expenses flared up 20.7% year over year to R$1,064.6 million ($271.5 million), representing 5.5% of net revenues.
Balance Sheet
Exiting the April-June quarter, Cosan’s cash and cash equivalents were R$7,071 million ($1,837.8 million), down from R$7,532 million ($2,279 million) reported at the end of the first quarter of 2019. Loans and borrowings were up 2% to R$33,626 million ($8,739.8 million) from R$32,942 million ($9,967.6 million) as of March-end 2018.
Share Price Performance
Over the past year, Cosan has outperformed its industry with respect to price performance. The stock has soared around 88.3%, while the industry has declined 3.2% during the same time frame.
Zacks Rank & Other Stocks to Consider
Cosan currently sports a Zacks Rank #1 (Strong Buy).
Few other top-ranked stocks in the basic materials space are Kinross Gold Corporation (KGC - Free Report) , Alamos Gold Inc (AGI - Free Report) and Arconic Inc , all flaunting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross has an expected earnings growth rate of a whopping 140% for 2019. The company’s shares have surged 69.9% over the past year.
Alamos Gold has an outstanding projected earnings growth rate of 280% for the current year. The company’s shares have appreciated 57% in a year’s time.
Arconic has an estimated earnings growth rate of 42.7% for the ongoing year. Its shares have rallied 24.9% in the past year.
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
See their latest picks free >>