Welcome to our dedicated page for Global Water Resources news (Ticker: GWRS), a resource for investors and traders seeking the latest updates and insights on Global Water Resources stock.
Global Water Resources, Inc. (GWRS) is a leading water resource management company that owns, operates, and manages water, wastewater, and recycled water utilities in strategically located communities, primarily in metropolitan Phoenix, Arizona. The company employs an integrated approach known as Total Water Management (TWM) to optimize the entire water cycle, aiming to conserve water and maximize its economic and social value. By owning and operating water, wastewater, and recycled water utilities within the same geographic areas, Global Water promotes sustainable communities and effective water use.
Global Water has been recognized for its successful implementation of TWM, receiving numerous industry awards, including the prestigious 'Utility of the Future Today' by the Water Environment Federation (WEF). The company's innovative practices also earned it the Cityworks’ 2022 Excellence in Departmental Practice Award.
In recent years, the company has expanded its portfolio through strategic acquisitions and the development of smart water management programs. One significant acquisition was Farmers Water, completed in February 2023, marking GWRS's largest acquisition since going public on Nasdaq in 2016. The company continuously invests in advanced technologies, such as remote metering infrastructure and new rate designs, which contribute to real water conservation.
Global Water recycles over 1 billion gallons of water annually and has recycled more than 16.7 billion gallons since 2004. The company’s ‘purple pipe’ program, which uses recycled wastewater for public areas, exemplifies its commitment to preserving drinking water resources.
Financially, GWRS has shown steady growth. For Q3 2023, the company reported a 22.2% increase in revenues compared to the same quarter the previous year, driven by organic growth and increased rates. The company's adjusted EBITDA also saw a notable increase, reflecting its strong operational performance.
Global Water Resources is poised for continued growth, supported by Arizona’s positive population and economic trends. The company's strategic focus on expanding service connections, improving operational efficiencies, and pursuing accretive acquisitions ensures it remains a vital player in providing essential water services to the growing communities in and around metropolitan Phoenix and Tucson.
For further information, visit www.gwresources.com or contact:
- Michael Liebman, CFO and SVP, at (480) 999-5104 or mike.liebman@gwresources.com
- Ron Both or Grant Stude at CMA, Tel (949) 432-7566
- Tim Randall at CMA, Tel (949) 432-7572
Join Global Water at the upcoming Nasdaq Closing Bell Ceremony on November 9, 2023, as they celebrate 20 years of water stewardship and sustainability.
Global Water Resources (NASDAQ: GWRS) has appointed Robert J. Kuta as executive vice president of engineering and environmental resources. This strategic hire supports the company's preparation for growth and infrastructure expansion in 2025 and beyond.
Kuta brings over 35 years of water industry experience, including significant executive roles in the southwest U.S. regulated utility space. His previous position was vice president of engineering and chief water quality officer at California Water Service Company, where he managed $1.4 billion in capital expenditures under a three-year program.
The new position combines engineering and environmental resources to maintain compliance standards as the company acquires troubled utilities. Kuta's expertise spans operations, project delivery, strategic planning, and regulatory strategies, with experience managing complex water and wastewater projects globally.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has announced its monthly cash dividend of $0.02533 per common share, which equates to an annual dividend rate of $0.30396 per share. The dividend will be distributed on January 31, 2025, to shareholders of record as of January 17, 2025.
Global Water Resources (NASDAQ: GWRS) has announced a 1% dividend increase, setting a new monthly cash dividend of $0.02533 per common share. This adjustment establishes a new annualized dividend rate of $0.30396 per share, up $0.003 from the previous rate of $0.30096. The dividend will be paid on December 30, 2024, to shareholders of record as of December 16, 2024. The company attributes this increase to growth in regulated revenue and net income, driven by increases in active connections and regulated rates.
Global Water Resources reported Q3 2024 results with total revenue decreasing 1.5% to $14.3 million, while regulated revenue increased 2.2%. Net income rose 11.0% to $2.9 million ($0.12 per share), and Adjusted EBITDA grew 7.2% to $8.2 million. Total active service connections increased 4.7% to 63,889. The company maintained its monthly dividend of $0.02508 per share. The company is progressing with rate case applications and plans to acquire seven water systems from Tucson, adding approximately 2,200 water service connections.
Global Water Resources (NASDAQ: GWRS) has announced its monthly cash dividend of $0.02508 per common share, equivalent to an annualized rate of $0.30096 per share. The dividend will be distributed on November 27, 2024, to shareholders recorded as of November 13, 2024. The company, which operates as a pure-play water resource management company, continues its dividend policy with this regular monthly distribution.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has announced its third quarter 2024 conference call scheduled for Thursday, November 7, 2024, at 1:00 p.m. Eastern time. The company will discuss results for the quarter ended September 30, 2024, with financial results to be released prior to the call.
The conference call details include:
- Toll-free dial-in: 1-833-816-1435
- International dial-in: 1-412-317-0527
- Conference ID: 10193916
A webcast will be available live and for replay. A call replay will be accessible until November 21, 2024. The event information is also available in the Investors section of the company's website.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has declared a monthly cash dividend of $0.02508 per common share. This equates to an annualized dividend rate of $0.30096 per share. The dividend is scheduled to be paid on October 31, 2024, to shareholders of record as of the close of business on October 17, 2024. This declaration is in line with the company's established dividend policy, demonstrating its commitment to providing regular returns to its shareholders.
Global Water Resources, Inc. (NASDAQ: GWRS) has released its second sustainability report, showcasing its Total Water Management (TWM) leadership. The report, prepared using SASB Standards, highlights the company's commitment to sustainability and environmental stewardship in Arizona communities.
Key points include:
- Celebrating 20 years of award-winning TWM
- Increased recycled water usage by 6.2% to 1.4 billion gallons in 2023
- Implementation of smart water management programs and advanced metering infrastructure
- Unique six-tier rate structure with conservation incentives
- 9.8% increase in active service connections, totaling 61,791
- $22.3 million invested in service area expansion and improvement
- Recognition as a 'Utility of the Future Today' for superior water reuse practices
Global Water's focus on water stewardship and innovative practices positions it well to address evolving water sustainability challenges in the western U.S.
Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, will present at the Janney Virtual Water Utilities Conference on September 19, 2024. CEO Ron Fleming, SVP and CFO Mike Liebman, and COO Chris Krygier will participate in a virtual fireside chat and one-on-one meetings with analysts and investors.
The presentation will be webcast live at 3:00 p.m. Eastern time and available for replay. Management will discuss the company's Q2 2024 growth, with revenue up 3.9% to $13.5 million and net income of $0.07 per share. They will also highlight GWRS's leadership in utility consolidation, automation, and water resource management, as well as its active M&A program expanding its portfolio in Arizona's major metro growth corridors.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has announced a monthly cash dividend of $0.02508 per common share. This translates to an annualized dividend rate of $0.30096 per share. The dividend is scheduled for payment on September 30, 2024, to shareholders of record as of the close of business on September 16, 2024. This declaration aligns with the company's established dividend policy, demonstrating its commitment to providing regular returns to shareholders.
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