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 been recognized as a ‘Utility of the Future Today’ for its innovative water reuse program. This accolade, awarded by a national consortium led by the Water Environment Federation, highlights the company's efforts in community engagement and resource recovery. Their Total Water Management (TWM) approach optimizes water cycle management by integrating water, wastewater, and recycled water utilities, significantly increasing recycled water usage from zero in 2003 to over 8.5 billion gallons by 2020. The recognition ceremony will occur on October 9.
Global Water Resources has declared a monthly cash dividend of $0.0241 per common share, totaling an annualized amount of $0.2892. This dividend will be paid on October 30, 2020 to shareholders on record by the close of business on October 16, 2020. The company operates 12 utilities and recycles nearly 1 billion gallons of water annually, focusing on Total Water Management (TWM) to enhance water conservation and supply protection in growing areas around metropolitan Phoenix.
Global Water Resources, Inc. (NASDAQ: GWRS) will present at the Janney Virtual Utilities Conference on September 15-16, 2020. CEO Ron Fleming, CFO Mike Liebman, and Chief Strategy Officer Christopher Krygier will engage in one-on-one meetings with investors on September 16, providing insights into the company's investment opportunities. Global Water Resources manages 12 utilities primarily in the Phoenix area, recycling nearly 1 billion gallons of water annually. For more details, visit their website or contact investor relations.
Global Water Resources, Inc. (NASDAQ: GWRS) has declared a monthly cash dividend of $0.0241 per common share, totaling an annualized $0.2892 per share. This dividend is set to be paid on September 30, 2020, to stockholders of record by September 16, 2020. The company operates 12 utilities providing water, wastewater, and recycled water services, primarily around metropolitan Phoenix. Global Water is recognized for its Total Water Management approach, effectively managing the water cycle and recycling nearly 1 billion gallons of water annually.
Global Water Resources (GWRS) announced Q2 2020 results, reporting revenues of $9.9 million, up 8.4% year-over-year. Despite organic growth, the company faced a net loss of $0.1 million due to non-cash asset disposal and restricted stock expenses. Adjusted net income stood at $0.8 million, or $0.03 per share. Active connections rose by 4.2% to 46,573, and adjusted EBITDA increased to $4.8 million. The company secured a new $10 million credit line, declaring monthly dividends of $0.0241 per share. Future growth may be impacted by COVID-19-related challenges.
Global Water Resources, Inc. (NASDAQ: GWRS) has declared a monthly cash dividend of $0.0241 per common share, amounting to an annualized $0.2892 per share. This dividend will be payable on August 31, 2020, to shareholders of record as of August 17, 2020. The company, focused on water resource management, operates 12 utilities primarily around metropolitan Phoenix, recycling nearly 1 billion gallons of water annually. Global Water is recognized for its Total Water Management approach, maximizing recycled water use and conserving resources in water-scarce regions.
Global Water Resources (GWRS) has joined the National Association of Water Companies (NAWC), enhancing its position in the water management sector. NAWC members invest over $3 billion annually in infrastructure improvements, serving more than 73 million Americans. Global Water aims to leverage its NAWC membership to advance environmental stewardship, enhance water quality, and pursue growth opportunities. The company has implemented Total Water Management, maximizing recycled water use in water-scarce areas. This strategic move could open new avenues for growth and innovation in water resource management.
Global Water Resources, Inc. (NASDAQ: GWRS) will host a conference call on August 6, 2020, at 1:00 p.m. ET to discuss its second-quarter financial results for the period ending June 30, 2020. The company operates 12 utilities providing water, wastewater, and recycled water services, primarily in the Phoenix area, recycling nearly 1 billion gallons of water annually. The call will feature a presentation by management followed by a Q&A session. Interested parties can join via dial-in or webcast, with a replay available until August 20, 2020.
Global Water Resources has declared a monthly cash dividend of $0.0241 per common share, annualizing to $0.2892 per share. The dividend is payable on July 31, 2020, to shareholders on record by July 17, 2020. The company operates 12 utilities providing water and wastewater services, primarily around metropolitan Phoenix, recycling nearly 1 billion gallons of water annually. Global Water is recognized for its effective Total Water Management approach, which maximizes recycled water use and conserves water in growth-prone areas.
Global Water Resources has appointed Christopher D. Krygier as chief strategy officer, enhancing its leadership in water resource management. Krygier's 15 years of industry experience includes roles in operations management, regulatory strategy, and capital deployment. His expertise is expected to support Global Water's commitment to efficiency and conservation, while accelerating the growth of its Total Water Management platform. The company operates 12 utilities, primarily in Arizona, and is recognized for its effective recycling practices, managing nearly 1 billion gallons of water annually.
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