Cons Water Inc Up 5.94% To $31.84 After Earnings Beat

Cons Water Inc (CWCO) said after close Wednesday that it earned $0.67 per share in quarter four 2023.

On the revenue line, the company reported $53.3 million, beating estimates by $8 million.

In the same quarter a year ago, the company earned $0.16 per share on revenue of $28.4 million.

The stock is up 5.94% to $31.84 after the report.

Cons Water Inc's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 59. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Consolidated Water Co Ltd is active in the utility sector. It develops and operates seawater desalination plants and water distribution systems in areas where naturally occurring supplies of potable water are scarce or nonexistent. The company's operating segment includes Retail, Bulk, Services, and Manufacturing. It generates maximum revenue from the Bulk segment followed by Retail segment. The bulk segment supplies potable water to government utilities in Grand Cayman and The Bahamas under long-term contracts. Its retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman Island pursuant to an exclusive license granted by the Cayman Islands government. Geographically, it derives a majority of revenue from the Cayman Islands.