Welcome to our dedicated page for Global Water news (Ticker: GWRS), a resource for investors and traders seeking the latest updates and insights on Global Water 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 announced a monthly cash dividend of $0.02458 per common share, totaling $0.29496 annually. This dividend will be paid on March 31, 2022, to shareholders on record as of March 17, 2022. Global Water Resources specializes in water resource management, operating 18 utilities primarily in metropolitan Phoenix. The company emphasizes Total Water Management, which aims to optimize water recycling and conservation in growth areas.
Global Water Resources, Inc. (NASDAQ: GWRS) has been invited to present at the 34th Annual ROTH Conference on March 13-15, 2022, in Dana Point, California. The event will feature online presentations and one-on-one meetings with CFO Mike Liebman discussing the company's approach to Total Water Management and its M&A strategy. The company’s financial results for 2021 will be announced on March 10, 2022. Global Water Resources operates 18 utilities, recycling nearly 1 billion gallons of water annually, and implements smart water management programs.
Global Water Resources, Inc. (NASDAQ: GWRS) announced a conference call on March 10, 2022, at 1:00 p.m. Eastern time to discuss its fourth quarter and full-year results for 2021. The financial results will be released prior to the call. The event will include a presentation followed by a Q&A session. Interested parties can access the call via dial-in options and a live webcast, with a replay available post-call. The company operates 18 utilities providing water services, focusing on Total Water Management to optimize water recycling and conservation.
Global Water Resources, Inc. (NASDAQ: GWRS) announced a cash dividend of $0.02458 per common share, totaling an annualized $0.29496 per share. This dividend will be paid on February 28, 2022, to shareholders on record as of February 14, 2022. The company, which operates 18 utilities in metropolitan Phoenix, emphasizes an integrated approach to water management through its Total Water Management (TWM) initiative, which promotes water recycling and conservation.
Global Water Resources (NASDAQ: GWRS) has announced the acquisition of Twin Hawks Utility, Inc. and Rincon Water Company, expanding its portfolio of water utilities in Arizona. These acquisitions add approximately 93 water connections, with Twin Hawks located near an operational hub, facilitating integration. This marks the company's tenth and eleventh acquisitions since 2017, aligned with its strategy of consolidation in Arizona. The company aims to enhance compliance and sustainability in water services while continuing to explore additional synergistic utility acquisitions in the region.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02458 per common share, equating to an annualized amount of $0.29496 per share. This dividend will be payable on January 31, 2022, to shareholders on record as of January 18, 2022. The company focuses on water resource management and operates 17 utilities, mainly in growth areas of metropolitan Phoenix, recycling nearly 1 billion gallons of water annually.
Global Water Resources (NASDAQ: GWRS) announced a Letter of Intent to acquire Farmers Water Co., enhancing its utility portfolio in Pima County, Arizona. This acquisition aims to integrate 3,300 active water service connections, complementing Global Water’s recent acquisitions. The company plans to upgrade the acquired utility's infrastructure, including transitioning to smart meters for improved efficiency. This acquisition represents GWRS's seventh in Pima County and aligns with its strategy to capitalize on growth in the Arizona Sun Corridor, expected to double in population by 2040.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a 1% increase in its monthly cash dividend, raising it to $0.02458, which amounts to $0.29496 annually. This change will take effect with the dividend payment on December 30, 2021, to shareholders on record by December 16, 2021.
The company operates 17 utilities primarily in metropolitan Phoenix, managing water, wastewater, and recycled water services, and annually recycles nearly 1 billion gallons of water.
Global Water Resources (NASDAQ: GWRS) will present at the Bank of America 2021 Water Conference on December 6, 2021. CEO Ron Fleming, along with CFO Mike Liebman and Chief Strategy Officer Chris Krygier, will participate in one-on-one meetings with analysts and investors.
They will discuss a 9.5% revenue increase to $31.6 million for the first nine months of 2021, fueled by organic growth and rate hikes. The company also maintains a monthly dividend of approximately $0.29 per share and recently completed an acquisition of 1,100 active water service connections in Arizona.
Global Water Resources, Inc. (NASDAQ: GWRS) announced the promotion of Joanne Ellsworth to executive vice president of corporate affairs. Previously the vice president of corporate and regulatory affairs, Ellsworth brings over 25 years of experience to her new role. CEO Ron Fleming highlighted her significant contributions to the company’s growth. Global Water continues to expand through acquisitions while focusing on sustainable water management. The company operates 17 utilities and recycles over 1 billion gallons of water annually, positioning itself as a leader in the water resource management sector.
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