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, Inc. (NASDAQ: GWRS) announced a monthly cash dividend of $0.02508 per common share, totaling $0.30096 per share annually. The dividend is payable on May 31, 2024, to shareholders of record as of May 17, 2024.
FAQ
What is the current stock price of Global Water (GWRS)?
What is the market cap of Global Water (GWRS)?
What is Total Water Management (TWM)?
Where does Global Water Resources operate?
What recent acquisitions has Global Water Resources made?
How much water does Global Water Resources recycle annually?
What awards has Global Water Resources received for its practices?
How can I contact Global Water Resources?
How has Global Water Resources performed financially?
What is the future growth strategy of Global Water Resources?
What is the ‘purple pipe’ program?
What is the significance of the Nasdaq Closing Bell Ceremony for Global Water Resources?
