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Consolidated Water (CWCO) Q3 Earnings & Sales Miss Estimates

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Consolidated Water Co. Ltd. (CWCO - Free Report) reported third-quarter 2019 earnings of 11 cents per share, lagging the Zacks Consensus Estimate of 16 cents. The bottom line also declined 31.3% from the year-ago earnings of 16 cents.

Total Revenues

The company’s total revenues in third-quarter 2019 came in at $15.9 million, down 12.1% from the year-ago figure of $18.1 million. Total revenues also missed the Zacks Consensus Estimate of $18 million by 11.7%.

The year-over-year decline can be attributed to lower contribution from all segments, except the retail segment.

Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise

Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise

Consolidated Water Co. Ltd. price-consensus-eps-surprise-chart | Consolidated Water Co. Ltd. Quote

Segment Details

Retail revenues in third-quarter 2019 increased nearly 0.5% year over year to $6.27 million.

Bulk revenues came in at $6.5 million in third-quarter 2019, down 16.7% from the prior-year figure.

Manufacturing revenues amounted to nearly $3.1 million, down 5.7% year over year.

Services revenues of $0.01 million were down 98.8% from the year-ago level.

Highlights of the Release

In third-quarter 2019, total cost of revenues increased 15.6% year over year to $9.2 million.

General and administrative expenses decreased 7.1% from the year-ago quarter to $6.7 million.

As of Sep 30, 2019, Consolidated Water’s cash and cash equivalents totaled $41.9 million, up from $31.3 million on Dec 31, 2018.

Zacks Rank

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 Releases

Here are some other players from the water utility space that have reported third-quarter earnings. American Water Works (AWK - Free Report) and Aqua America, Inc. beat the Zacks Consensus Estimate by 3.1%, and 11.6%, respectively. However, American States Water Company (AWR - Free Report) lagged earnings estimates by 4.2%.

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