Consolidated Water Co. (CWCO) Reports FY17 EPS of $0.41 on Revenues of $62.31M
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Revenue Growth %: +27.8%
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Services revenues: 1.51M
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Consolidated Water Co. (NASDAQ: CWCO) reported FY17 EPS of $0.41 reported last year, on revenues of $62.31M.
2017 Financial Results
Total revenues for 2017 were $62.3 million, an increase of $4.4 million from the $57.9 million reported for the full year 2016. Gross profit amounted to $25.4 million, up 4.9% from $24.3 million last year. Inclusive of $3 million Rosarito-related expense, net income attributable to Consolidated Water stockholders was $6.1 million, or $0.41 per fully diluted share, an increase of 55.1% from the $4.0 million, or $0.27 per fully diluted share, earned in 2016.
Net cash provided by operating activities for 2017 was $13.6 million, a 74% increase when compared to last year\'s $7.8 million. Capital expenditures were $4.6 million. Cash and cash equivalents increased to $47.2 million as of December 31, 2017
Summary and Outlook
"We ended 2017 in a strong financial position, reflecting the steady operating performance of our core water operations and year-on-year improvement in our manufacturing segment. The equity partnership agreement that we completed in early March of this year with SUEZ, a global leader in water treatment, and Greenfield, an affiliate of a leading U.S. asset management firm, represents a critical milestone in the development of our Rosarito project. This enterprise will encompass one of the largest desalination plants in the Western Hemisphere, providing needed water to a water stressed region of North America. With capacity of up to 100 million gallons per day upon completion of Phase 2, Rosarito is a transformative project for our company as its capacity will be greater than that of our existing portfolio," Mr. McTaggart concluded.
For earnings history and earnings-related data on Consolidated Water Co. (CWCO) click here.
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