Consolidated Water (CWCO) Q3 Earnings & Sales Miss Estimates
Consolidated Water Co. Ltd. CWCO 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-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 and Aqua America, Inc. WTR beat the Zacks Consensus Estimate by 3.1%, and 11.6%, respectively. However, American States Water Company AWR lagged earnings estimates by 4.2%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Consolidated Water Co. Ltd. (CWCO) : Free Stock Analysis Report
American States Water Company (AWR) : Free Stock Analysis Report
American Water Works Company, Inc. (AWK) : Free Stock Analysis Report
Aqua America, Inc. (WTR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research