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, 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.
Global Water Resources, Inc. (NASDAQ: GWRS) reported Q3 2021 results, showing revenue growth of 6.0% to $11.4 million, driven by infrastructure coordination agreements and an increase in active service connections, which rose 9.2% to 51,958. Net income rose 32.4% to $1.5 million. The company declared monthly dividends and invested $5.4 million in infrastructure projects. Future growth is anticipated from a rate case pending decision and recent acquisitions, including Las Quintas Serenas Water Company, adding over 1,100 active connections.
Global Water Resources (NASDAQ: GWRS) has successfully acquired Las Quintas Serenas Water Company, enhancing its service area by approximately 2.5 square miles and adding 1,100 active water service connections, representing a 2% increase in total connections. This strategic acquisition comes with a capital investment of about $1 million and aims to modernize service with smart meters for improved efficiency and customer cost savings. This marks Global Water’s sixth acquisition in Pima County and aligns with its future growth plans in Arizona's expanding population regions.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02434 per common share, totaling an annualized $0.29208 per share. The dividend will be payable on November 30, 2021, to shareholders recorded by the close of business on November 16, 2021. The company is noted for its efficient Total Water Management approach and operates 16 utilities in water-scarce areas around metropolitan Phoenix, recycling nearly 1 billion gallons of water annually.
Global Water Resources (NASDAQ: GWRS) will host a conference call on November 9, 2021, at 1:00 p.m. ET to discuss its third-quarter financial results for the period ending September 30, 2021. The call will include a presentation followed by a Q&A session. Participants can join via a toll-free dial-in number or through a live webcast available on the company’s website. A replay will be accessible after the call and until November 23, 2021. Global Water Resources operates 16 utilities, providing vital water services, and emphasizes its Total Water Management approach.
Global Water Resources has declared a monthly cash dividend of $0.02434 per common share, amounting to an annualized total of $0.29208 per share. This dividend will be payable on October 29, 2021, to shareholders of record as of October 15, 2021. The company, which manages 16 utilities primarily in metropolitan Phoenix, recycles nearly 1 billion gallons of water annually and emphasizes its Total Water Management approach to enhance resource conservation.
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