Consolidated Water Co. Ltd.CWCO reported first-quarter 2018 earnings of 19 cents per share, beating the Zacks Consensus Estimate of 18 cents by 5.56%.
Excluding one-time adjustments related to the Rosarito Project, the company reported GAAP earnings of 14 cents. The figure declined 22.2% from the prior-year quarter's tally.
In the quarter under review, Consolidated Water's total revenues were $15.3 million, lagging the Zacks Consensus Estimate of $17.0 million by 10%. Revenues declined 2.2% from the year-ago quarter's $15.7 million. The downside was caused by lower segment revenues except Bulk Water Operations.
Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise
Retail Water Operations revenues in the first quarter were down 0.7% year over year to $6.43 million.
Bulk Water Operations revenues were $8.2 million, up 7% from the prior-year quarter's figure.
Manufacturing revenues were nearly $0.55 million, down 60% year over year.
Services Operations revenues of $0.12 million were down from the year-ago quarter's figure by 5%.
Highlights of the Release
In the first quarter, total cost of revenues fell 1.3% year over year to $8.7 million, mainly due to lower cost of revenues in Manufacturing Operations.
Consolidated Water's gross profit in the quarter under review was $6.6 million, down 3.4% from the prior-year quarter's level.
The company incurred general and administrative expenses of $4.7 million, down 0.6% from the prior-year quarter's figure.
As of Mar 31, 2018, Consolidated Water's cash and cash equivalents were $43.7 million, down from $47.2 million as of Dec 31, 2017.
Consolidated Water carries a Zacks Rank #4 (Sell).
Water Utility Releases
American Water Works Co. AWK , a Zacks Rank #3 (Hold) stock, beat the Zacks Consensus Estimate for first-quarter earnings by 7.3%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Here are some other players from the water utility space that have reported first-quarter earnings so far.
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