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 appointed Chris Krygier as Chief Operations Officer, previously serving as Chief Strategy Officer since June 2020. In his new role, Krygier will oversee regulated water and wastewater operations in Arizona, focusing on business development and regulatory affairs. He has a track record of successful acquisitions, including the recent addition of Farmers Water, boosting 3,300 service connections. With over 15 years of industry experience and a strategic vision for consolidation and utility solutions, Krygier is expected to drive growth in the company's expanding market.
Global Water Resources (NASDAQ: GWRS) has completed the acquisition of Farmers Water Co., enhancing its services in Pima County, Arizona. This acquisition adds approximately 3,300 active water service connections and covers 21.5 square miles, boosting Global Water's total connections in the region to nearly 5,000. The company plans to implement advanced metering technology and improved cybersecurity measures for Farmers Water, aiming for operational efficiency and customer service enhancement. This strategic move supports the expected population growth in the Arizona Sun Corridor, positioning Global Water for future growth.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02483 per common share, amounting to an annualized total of $0.29791 per share. The dividend is set to be paid on February 28, 2023, to shareholders on record as of February 14, 2023. As a key player in water resource management, Global Water operates 25 systems primarily in the Phoenix area, recycling over 1 billion gallons of water annually. The company implements an integrated approach known as Total Water Management (TWM), enhancing conservation efforts in water-scarce regions experiencing growth.
Global Water Resources (NASDAQ: GWRS) announced that CEO Ron Fleming has been elected to the board of the National Association of Water Companies (NAWC). This role aims to enhance the company’s commitment to delivering high-quality water services and infrastructure investment. NAWC members serve over 73 million Americans, investing more than $3 billion annually to maintain compliance with health regulations. Fleming believes this position will strengthen Global Water's goals in environmental stewardship and service improvements. Additionally, the company is developing a water service project for Procter & Gamble at the Inland Port Arizona mega site.
Global Water Resources, Inc. (GWRS) received the 2022 Excellence in Departmental Practice Award from Cityworks at the Cityworks Innovate Conference in Salt Lake City. The recognition highlights Global Water's innovative asset management strategies, improving service efficiency and customer response. The company has utilized Cityworks Server Asset Management System since 2006, enhancing budgeting and resource allocation. Global Water is also set to collaborate with Procter & Gamble to provide water services for a new manufacturing facility at Inland Port Arizona, further expanding its operational footprint.
Global Water Resources has declared a monthly cash dividend of $0.02483 per common share, amounting to an annualized $0.29791 per share. This dividend will be payable on January 31, 2023, to shareholders on record as of January 17, 2023. The company focuses on water resource management, owning and operating 25 systems in the metropolitan Phoenix area, and recycles over 1 billion gallons of water annually. Global Water's Total Water Management approach integrates water cycle management to enhance conservation.
Global Water Resources (NASDAQ: GWRS) has been invited to present at the ROTH 11th Annual Deer Valley Event in Park City, UT, from December 14-17, 2022. CEO Ron Fleming and CFO Mike Liebman will hold one-on-one meetings with investors on December 15. They will discuss a reported 8.9% growth in regulated revenues to $33.6 million and a net income of $4.7 million ($0.20/share) for the first nine months of 2022. Additionally, they will address the recent rate increase approval expected to generate over $2.2 million annually and developments related to the Inland Port Arizona project.
Global Water Resources has announced an increase in its monthly cash dividend by 1% to $0.29791 annually, equivalent to $0.02483 per month. The new dividend rate will take effect with the payment scheduled for December 29, 2022, to shareholders recorded by December 15, 2022. As a leading water resource management company, Global Water operates 25 systems, recycling over 1 billion gallons of water annually, and has been recognized for its effective Total Water Management approach, maximizing the beneficial use of recycled water in metropolitan Phoenix.
Global Water Resources (NASDAQ: GWRS) is set to present at the Bank of America 2022 Water Conference on December 6, 2022. CEO Ron Fleming will engage in one-on-one meetings with institutional investors and analysts alongside CFO Mike Liebman and Chief Strategy Officer Chris Krygier. The company reported an 8.9% increase in regulated revenues, totaling $33.6 million, and net income of $4.7 million or $0.20 per share for the first nine months of 2022. A recent regulatory rate increase is projected to add over $2.2 million in annual revenue.
Global Water Resources (NASDAQ: GWRS) has partnered with Procter & Gamble (P&G) on a $500 million manufacturing facility in Coolidge, Arizona, expected to create about 500 jobs. Construction is set to begin in 2023 and the facility will be operational by 2025. Global Water will provide essential water, wastewater, and recycled water services for the facility, and expects to start detailed design and permitting in 2023. This move positions Global Water as a key player in the region's growing industrial ecosystem, enhancing its service offerings and infrastructure.
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