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 (GWRS) has signed a definitive agreement to acquire Las Quintas Serenas Water Company in Tucson, Arizona. This acquisition will add approximately 2.5 square miles and 1,100 active water service connections, primarily residential. Expected to close in October, it's Global Water's largest acquisition since 2018. The company plans to enhance service quality by transitioning to smart meters for better water management. This move aligns with Global Water's strategy of expanding its footprint in Pima County and addressing growing water demands in the Arizona Sun Corridor.
On September 8, 2021, Global Water Resources (NASDAQ: GWRS) announced its participation in the Janney Water Utilities Conference on September 14, 2021. CEO Ron Fleming will lead one-on-one meetings with investors and analysts, alongside CFO Mike Liebman and Chief Strategy Officer Chris Krygier. The company plans to discuss its growth strategy, which includes expanding service areas and acquiring additional utilities. In the past year, Global Water Resources has agreed to acquire six utilities in Arizona and is seeking further acquisitions.
Global Water Resources has declared a monthly cash dividend of $0.02434 per common share, totaling an annualized amount of $0.29208. The payment date is set for September 30, 2021, for shareholders on record at the close of business on September 16, 2021. As a leading water resource management company, it operates 16 utilities primarily around metropolitan Phoenix, recycling nearly 1 billion gallons of water annually.
Global Water Resources (GWRS) reported a strong Q2 2021 with revenues rising 10.7% to $10.9 million, attributed to increased consumption and service connections. Net income reached $2.0 million, up from a net loss of $0.1 million a year earlier, while Adjusted EBITDA grew 11.5% to $5.3 million. Active service connections grew 10.2% to 51,314. The company declared a monthly dividend of $0.02434 per share and has $19.3 million in cash. Positive trends in population and job growth in the Phoenix area position GWRS well for future expansion.
Global Water Resources (NASDAQ: GWRS) has declared a monthly cash dividend of $0.02434 per common share, equating to an annualized amount of $0.29208 per share. This dividend will be payable on August 31, 2021, to shareholders on record by the close of business on August 17, 2021. The company manages 16 utilities primarily in the Phoenix area, recycling nearly 1 billion gallons of water annually. Their integrated approach, known as Total Water Management (TWM), facilitates effective water cycle management and conservation.
Global Water Resources, Inc. (NASDAQ: GWRS) will hold a conference call on August 6, 2021, at 1:00 p.m. Eastern time to discuss its second-quarter financial results for the period ending June 30, 2021. The company operates 16 utilities providing water, wastewater, and recycled water services, primarily around metropolitan Phoenix. Global Water is recognized for its Total Water Management approach, recycling nearly 1 billion gallons of water annually. The conference call includes a presentation and Q&A session, available via telephone and online.
Global Water Resources (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02434 per common share, totaling $0.29208 annually. This dividend will be payable on July 30, 2021, to shareholders of record by the close of business on July 16, 2021. The company, operating 16 utilities predominantly in the Phoenix area, emphasizes Total Water Management to enhance water conservation and utilization, recycling nearly 1 billion gallons of water annually.
Global Water Resources (NASDAQ: GWRS) has declared a monthly cash dividend of $0.02434 per common share, totaling $0.29208 annually. This dividend is payable on June 30, 2021 to shareholders recorded by June 16, 2021. The company operates 16 utilities in metropolitan Phoenix, providing water, wastewater, and recycled water services, recycling nearly 1 billion gallons of water annually. Global Water is recognized for its Total Water Management (TWM) approach, promoting smart water management and conservation in water-scarce areas.
Global Water Resources Inc. (NASDAQ: GWRS) announced the election results for its 2021 Annual Meeting of Stockholders. All nominated Directors were elected, with Ron L. Fleming receiving 95.29% of votes cast. The appointment of Deloitte & Touche LLP as the independent auditor for the fiscal year 2021 was ratified with 99.84% support. A total of 19,197,507 shares were voted out of 22,587,996 eligible shares. The company operates 16 utilities mainly around Phoenix and is noted for its Total Water Management approach, recycling nearly 1 billion gallons of water annually.
Global Water Resources (GWRS) reported a 12.5% revenue increase to $9.3 million for Q1 2021, driven by organic growth in service connections and rate increases. Active service connections rose by 8.5% to 50,162. The company declared monthly dividends amounting to $0.29208 annually. However, operating expenses surged by 27.7% to $8.2 million, leading to a net loss of $0.2 million. Cash reserves stood at $18.2 million, with a strong balance sheet supporting future growth initiatives, including acquisitions and infrastructure investments.
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