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.Total RevenuesIn 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 Consolidated Water Co. Ltd. Price, Consensus and EPS Surprise | Consolidated Water Co. Ltd. QuoteSegment DetailsRetail 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 ReleaseIn 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.Zacks RankConsolidated Water carries a Zacks Rank #4 (Sell).Water Utility ReleasesAmerican 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.SJW Group SJW reported in-line earnings while American States Water Company’s AWR earnings missed the consensus mark.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Water Works (AWK): Free Stock Analysis Report Consolidated Water Co. Ltd. (CWCO): Free Stock Analysis Report SJW Corporation (SJW): Free Stock Analysis Report American States Water Company (AWR): Free Stock Analysis Report To read this article on Zacks.com click here.