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 conference call scheduled for May 3, 2023, at 1:00 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2023. Investors can join via a toll-free number or an international dial-in number, with a replay available until May 17, 2023. Global Water operates 29 systems that provide essential water and wastewater services, recycling over 1 billion gallons of water annually. Recognized as a 'Utility of the Future Today', the company emphasizes an integrated approach called Total Water Management (TWM) to enhance water conservation and manage resources effectively in population-growth areas around Phoenix. The company's initiatives have garnered several industry awards, reflecting its commitment to advanced water management practices.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02483 per common share, totaling an annualized amount of $0.29791 per share. This dividend is payable on April 28, 2023, to shareholders on record as of April 14, 2023. The company operates 29 water, wastewater, and recycled water systems primarily in metropolitan Phoenix, recycling over 1 billion gallons of water annually. It has received accolades for its Total Water Management approach, which integrates various utilities to enhance water conservation, particularly in growing, water-scarce areas.
Global Water Resources, Inc. (NASDAQ: GWRS) reported strong financial results for Q4 and the full year of 2022. Q4 revenues rose 7.7% to $11.1 million, while full-year revenues increased 8.6% to $44.7 million. Net income for Q4 surged 138% to $824,000 and for the full year by 53% to $5.5 million. The company’s active service connections grew 4.4% to 56,270, driven by organic growth and acquisitions. Significant operational achievements include a $8.7 million capital investment and the closing of the Farmers Water acquisition, adding 3,300 connections. Global Water continues to focus on utility consolidation and sustainable service improvements.
Global Water Resources, Inc. (NASDAQ: GWRS) will present at the 35th Annual ROTH Conference in Dana Point, California, from March 12-14, 2023. The event will feature on-demand presentations, in-person meetings, and thematic panels. CFO Mike Liebman and COO Chris Krygier will meet with analysts and investors to discuss the company’s leadership in utility consolidation, automation, and water resource management, along with its active M&A program in major metro areas around Phoenix and Tucson, Arizona. Global Water is noted for its innovative Total Water Management practices, recycling over 1 billion gallons of water annually, and has received multiple industry awards for its water reuse initiatives.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02483 per share, amounting to an annualized total of $0.29791. The dividend will be payable on March 31, 2023, to shareholders on record as of March 17, 2023. The company operates 29 systems providing water, wastewater, and recycled water services in metropolitan Phoenix, recycling over 1 billion gallons of water annually. Notably, Global Water is recognized for its Total Water Management approach and has received several awards for its water reuse practices and public asset management strategies.
Global Water Resources, Inc. (NASDAQ: GWRS) announced a conference call scheduled for March 9, 2023, at 1:00 p.m. Eastern time to discuss its financial results for Q4 and the full year ending December 31, 2022. The financial results will be shared in a press release prior to the call. The call will include a presentation by management, followed by a Q&A session. Global Water operates 29 systems providing water and wastewater services, recycling over 1 billion gallons of water annually. The company is recognized for its innovative Total Water Management approach, leading to effective water conservation practices in growing urban areas.
Global Water Resources, Inc. (NASDAQ: GWRS) has submitted a request for voluntary delisting of its shares from the Toronto Stock Exchange (TSX), expected to take effect on February 24, 2023. This decision follows an internal review highlighting financial and administrative burdens, as well as low trading volumes on the TSX. The company will continue trading on NASDAQ. Global Water also plans to cease reporting as a Canadian issuer post-delisting. The firm manages 29 systems providing water services, emphasizing Total Water Management—an integrated approach to maximizing recycled water use.
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