Consolidated Water Co. Ltd.
) reported third-quarter 2013 earnings per share of 6 cents,
missing the Zacks Consensus Estimate of 8 cents by 25%. On a
year-over-year basis, earnings decreased 33.3% due to lower
revenues, a rise in general and administrative expenses as well
as shares outstanding.
The company's total revenue was $15.4 million, lagging the Zacks
Consensus Estimate of $16 million by 3.8%. Quarterly revenues
edged down 2.5% year over year due to an 11.9% decline in
sales, as rainfall was higher in some of the company's service
territories in the reported quarter. This was partially offset by
an improvement in revenues at the company's
segments by 2.1% and 65.9% year over year, respectively.
In the quarter under review, Consolidated Water's total cost of
revenues was $10.2 million, down 3.7% year over year due to a
decline in costs of Retail and Bulk segment revenues.
General and administrative expenses increased 5.4% year over year
to $4.3 million.
A decrease in revenue was compounded by higher general and
administrative expenses. This was partly offset by a drop in
total cost of revenues. Consequently, operating margin in the
reported quarter declined to 5.9% from 7.2% in the year-ago
Consolidated Water's interest expenses totaled $0.12 million,
down 20.2% year over year primarily due to a decline in long-term
As of Sep 30, 2013, the company's cash and cash equivalents were
$30.8 million versus $33.9 million as of Dec 31, 2012.
Long-term debt as of Sep 30, 2013 was $3.9 million compared with
$5.2 million at the end of 2012.
At the Peer
California Water Service Group
) announced third-quarter 2013 operating earnings of 61 cents per
share, surpassing the Zacks Consensus Estimate by 9 cents.
Consolidated Water currently has a Zacks Rank #3 (Hold). However,
other stocks from the industry that are presently performing well
Middlesex Water Company
) with a Zacks Rank #1 (Strong Buy) and
Water Service Inc.
) with a Zacks Rank #2 (Buy).
CONN WATER SVC (CTWS): Free Stock Analysis
CONSOLTD WATER (CWCO): Free Stock Analysis
CALIF WATER SVC (CWT): Free Stock Analysis
MIDDLESEX WATER (MSEX): Free Stock Analysis
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