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Global Water Resources, Inc. - GWRS STOCK NEWS

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.

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Global Water Resources to hold conference call on November 9, 2023 to discuss Q3 results
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Global Water Resources, Inc. declares a monthly cash dividend of $0.02483 per share ($0.29796 per share annually).
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Global Water Resources issues its first annual ESG and sustainability report, highlighting its leadership in Total Water Management. The report reveals the company's commitment to sustainability and environmental stewardship. Global Water prepared the report under the SASB reporting framework, providing quantitative data and qualitative assessments across 28 key metrics. The number of companies reporting on their ESG performance has grown in recent years. Global Water's report showcases its key innovations and operating excellence, including its purple pipe program, Total Water Management approach, and advanced metering infrastructure technology. The report also highlights the company's industry awards. The full report is available on the company's website.
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Global Water Resources, Inc. declares monthly cash dividend of $0.02483 per share.
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Global Water Resources, Inc. to present at Janney Water Utilities Conference on September 21, 2023
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Global Water Resources, Inc. (NASDAQ: GWRS) reported Q2 2023 results, with total revenue up 11.0% to $13.0 million, net income down 17.5% to $1.7 million, and adjusted EBITDA up 10.5% to $6.7 million. The company's operational highlights include an 8.0% increase in total active service connections and a 5.6% increase in water consumption. The company also extended its $15 million revolving line of credit through July 1, 2025.
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FAQ

What is the current stock price of Global Water Resources (GWRS)?

The current stock price of Global Water Resources (GWRS) is $11.32 as of December 23, 2024.

What is the market cap of Global Water Resources (GWRS)?

The market cap of Global Water Resources (GWRS) is approximately 280.5M.

What is Total Water Management (TWM)?

Total Water Management (TWM) is Global Water Resources' integrated approach to managing the entire water cycle, which involves owning and operating water, wastewater, and recycled water utilities within the same geographic area to maximize water conservation and its economic and social value.

Where does Global Water Resources operate?

Global Water Resources primarily operates in metropolitan Phoenix, Arizona, and its surrounding growth corridors.

What recent acquisitions has Global Water Resources made?

One of the significant recent acquisitions by Global Water Resources is Farmers Water, completed in February 2023.

How much water does Global Water Resources recycle annually?

Global Water Resources recycles over 1 billion gallons of water annually, with a total of more than 16.7 billion gallons recycled since 2004.

What awards has Global Water Resources received for its practices?

Global Water Resources has received the 'Utility of the Future Today' award by the Water Environment Federation (WEF) and the Cityworks’ 2022 Excellence in Departmental Practice Award.

How can I contact Global Water Resources?

For company information, contact Michael Liebman, CFO and SVP, at (480) 999-5104 or mike.liebman@gwresources.com. For investor relations, contact Ron Both or Grant Stude at CMA, Tel (949) 432-7566.

How has Global Water Resources performed financially?

For Q3 2023, Global Water Resources reported a 22.2% increase in revenues compared to the same quarter the previous year, with significant growth in adjusted EBITDA.

What is the future growth strategy of Global Water Resources?

Global Water Resources focuses on increasing service connections, improving operational efficiencies, pursuing accretive acquisitions, and maintaining effective water management to support growth in and around metropolitan Phoenix and Tucson.

What is the ‘purple pipe’ program?

The ‘purple pipe’ program by Global Water Resources uses recycled wastewater for public common areas, helping to conserve precious drinking water resources.

What is the significance of the Nasdaq Closing Bell Ceremony for Global Water Resources?

The Nasdaq Closing Bell Ceremony on November 9, 2023, marks Global Water Resources' 20th anniversary, celebrating its achievements in water stewardship and sustainability.

Global Water Resources, Inc.

Nasdaq:GWRS

GWRS Rankings

GWRS Stock Data

280.46M
11.44M
52.43%
30.8%
0.38%
Utilities - Regulated Water
Water Supply
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United States of America
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