Consolidated Water (CWCO) 2019 Earnings Fall Y/Y, Sales Up

By Zacks Investment ResearchStock MarketsMar 16, 2020 12:04AM ET

www.investing.com/analysis/consolidated-water-cwco-2019-earnings-fall-yy-sales-up-200516407

Consolidated Water (CWCO) 2019 Earnings Fall Y/Y, Sales Up

By Zacks Investment Research | Mar 16, 2020 12:04AM ET

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Consolidated Water Co. Ltd. (NASDAQ:CWCO) reported 2019 earnings of 56 cents per share, declining 17.7% from the year-ago figure of 68 cents.

GAAP earnings in 2019 were 80 cents compared with 75 cents reported in 2018.

Total Revenues

The company’s total 2019 revenues came in at $68.8 million, up 4.7% from the year-ago figure of $65.7 million.

The year-over-year improvement can be attributed to strong contribution from its Retail and Manufacturing segments.

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 2019 increased 3.5% year over year to $26.5 million. This was due to a slight increase in the volume of water sold by Cayman Water and higher energy prices.

Bulk revenues came in at $26.9 million in 2019, down 13.5% from the prior-year figure. The decrease in revenues was due to lower rates.

Manufacturing revenues amounted to $13.6 million, up 86.3% year over year. The year-over-year increase was due to a surge in the number of orders that resulted in expanded project production activity.

Services revenues of $1.7 million were down 5.6% from the year-ago level.

Highlights of the Release

In 2019, total cost of revenues increased 4.1% year over year to $40.5 million.

General and administrative expenses increased 3.2% from the year-ago level to $19.4 million.

As of Dec 31, 2019, Consolidated Water’s cash and cash equivalents totaled $42.9 million, up from $31.3 million in the corresponding period of 2018.

Although the company is concerned of the impact of COVID-19 on the world economy and its business, it remains optimistic about long-term prospects.

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 players from the water utility space that have reported fourth-quarter earnings. SJW Group (NYSE:SJW) and American States Water Company (NYSE:AWR) beat the Zacks Consensus Estimate by 3%, and 9.8%, respectively. However, American Water Works’ (NYSE:AWK) earnings were in line with estimates.

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Consolidated Water (CWCO) 2019 Earnings Fall Y/Y, Sales Up

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