Weak second quarter for US water industry
- From: Vol 2, Issue 8 (August 2001)
- Category: Performer of the month
- Region: Americas
- Country: United States
- Related Companies: American Water Works, AWG, Azurix, Calgon Carbon, Consolidated Water, Millipore, Ondeo/Suez, United Water and Zenon Environmental
Second quarter earnings reports hit Wall Street in July and, so far, the US water industry is showing symptoms of the global economic slow down. Revenues are up slightly, but net incomes are down due to rising costs.
Consolidated Water was the top performer for the month, posting an impressive 19.9% increase. The gains came after the company announced that it finalised a water supply contract with Bimini Sands Resort in the Bahamas. Consolidated Water expects the contract to generate significant revenue. CEO Jeffrey Parker stated that “we estimate that the delivery of water to Bimini Sands ...
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