SABESP’s SBS net income in the third quarter of 2018 slumped 50% year over year to R$ 565.2 million ($143.4 million). Earnings per share (EPS) totaled R$0.83, down from year-ago quarter’s figure of R$1.32.Considering the ADR equivalent of EPS, the bottom line in the reported quarter was 21 cents, lagging the Zacks Consensus Estimate of 26 cents by 19.2%. Also, the figure declined 100% from the year-ago quarter’s tally of 42 cents.Revenues Improve Y/YIn the reported quarter, SABESP's net operating revenues (including construction revenues) were R$3,810.8 million ($967million), up 7.8% year over year. The figure missed the Zacks Consensus Estimate of $1,066 million by 9.2%.The year-over-year improvement was driven by favorable impact from the tariff-repositioning index.Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Price, Consensus and EPS Surprise Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Price, Consensus and EPS Surprise | Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp QuoteHighlights of the releaseCosts and expenses, which include construction costs, totaled R$ 2,719.2 million ($690), up 13% year over year.Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were R$ 1,434.6 million ($364 million), down 1.5% year over year.Billed water and sewage volumes in the quarter inched up 0.1% year over year to 923.9 million cubic meters. The company's water connections rose 2.3% in the third quarter of 2018. Sewage connection improved 2.8% from third-quarter 2017 level.Balance Sheet & Cash FlowAs of Sep 30, 2018, SABESP's cash and cash equivalents were R$3,619.3 million ($918.5 million), up from R$2,283 million ($688.8 million) at the end of 2017. Borrowings and financing grew 20.4% in the first nine months of 2018 to R$2,104.5 million ($534 million).Cash generation from operations in the first nine months of 2018 was R$3,088 million ($783.7 million) versus R$2,339.2 million ($737.9 million) in the year-ago period.During the quarter, the company invested R$795.6 million ($202 million)Zacks RankSABESP currently has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Water Supply Utilities’ ReleaseHere are some players from the water utility space that have reported third-quarter 2018 results. American Water Works Co AWK, SJW Group SJW and American States Water Company AWR beat the Zacks Consensus Estimate by 3.5%, 12.5% and 3.3%, respectively.3 Medical Stocks to Buy NowThe greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.See them today for free >>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 Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (SBS): Free Stock Analysis Report American Water Works Company, Inc. (AWK): Free Stock Analysis Report American States Water Company (AWR): Free Stock Analysis Report SJW Group (SJW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research