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) reported a strong Q3 2022, with regulated revenues rising by $1.2 million (11%) to $11.9 million, driven by an increase in active service connections and rate hikes. Net income grew to $1.7 million ($0.07 per share), while adjusted EBITDA surged 21% to $6.1 million. The company raised approximately $14.9 million through a public offering, intended for acquisitions and working capital. Active service connections increased by 8% to 56,134, with a new rate structure expected to add approximately $2.2 million in revenue annually, solidifying its growth strategy in the expanding Phoenix area.
Global Water Resources has announced a monthly cash dividend of $0.02458 per share, totaling $0.29496 annually. The dividend is payable on November 30, 2022, to shareholders on record by November 16, 2022. As a leader in water resource management, the company operates 25 systems mainly around metropolitan Phoenix, recycling over 1 billion gallons of water annually. Their Total Water Management approach enhances conservation and optimizes resource use in water-scarce regions.
Global Water Resources (GWRS) will host a conference call on November 10, 2022, at 1:00 p.m. ET to discuss its Q3 2022 financial results, which will be released beforehand. The call will include a presentation followed by a Q&A session. Investors can join by calling the provided toll-free numbers or via an online webcast. The company is known for its effective Total Water Management approach, operating 25 water systems primarily around Phoenix and recycling over 1 billion gallons annually. A replay will be available from 4:00 p.m. ET that day until November 24, 2022.
Global Water Resources (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02458 per common share, totaling an annualized amount of $0.29496. This dividend will be payable on October 31, 2022, to shareholders recorded by the close of business on October 17, 2022. The company operates 25 systems providing essential water services in the Phoenix area and is recognized for its effective Total Water Management approach, which integrates water, wastewater, and recycled water services, promoting conservation in a growing metropolitan region.
Global Water Resources, Inc. (NASDAQ: GWRS) will present at the Janney Water Utilities Conference on September 22, 2022. CEO Ron Fleming will participate in a fireside chat at 3:00 p.m. ET, discussing the company’s 7% revenue growth in Q2 2022, reaching $11.7 million, and a net income of $2.1 million. Additionally, the recent rate increase approval is expected to boost annual revenue by approximately $2.2 million. The presentation will be available for live streaming and replay on the company's website.
Global Water Resources, Inc. (NASDAQ: GWRS) announced a monthly cash dividend of $0.02458 per common share, totaling $0.29496 annually. This dividend, payable on September 30, 2022, is for shareholders recorded by September 16, 2022.
The company is a leader in water resource management, operating 25 systems primarily around metropolitan Phoenix and recycling over 1 billion gallons of water annually through its Total Water Management approach.
Global Water Resources (GWRS) reported strong Q2 2022 results with revenues rising 7.0% to $11.7 million, driven by an 8.8% increase in active service connections. Net income increased by 6.3% to $2.1 million, and adjusted EBITDA grew 14.3% to $6.1 million. The company declared a monthly cash dividend and expects an annualized revenue increase of $2.2 million from new rates approved by the Arizona Corporation Commission. With a successful equity capital raise of $15.5 million, GWRS is positioned for growth through acquisitions and infrastructure investments.
Global Water Resources, Inc. (NASDAQ: GWRS) announced the completion of a public offering of 1,150,000 shares at $13.50 per share, generating gross proceeds of approximately $15.5 million. The offering included 150,000 shares sold to the underwriter, Roth Capital Partners, who exercised their full option for additional shares. The net proceeds will be used for acquisitions, working capital, and general corporate purposes. This offering was made under a previously filed registration statement that is effective with the SEC.
Global Water Resources, Inc. (NASDAQ: GWRS) has announced a monthly cash dividend of $0.02458 per common share, amounting to an annualized $0.29496 per share. This dividend is payable on August 31, 2022, to shareholders recorded as of August 17, 2022. The company operates 25 systems providing essential water services and recycles over 1 billion gallons of water annually. Its Total Water Management program maximizes resource efficiency in water-scarce areas, supporting growth in metropolitan Phoenix.
Global Water Resources (NASDAQ: GWRS) announced a public offering of 1,000,000 shares at $13.50 per share, aiming for gross proceeds of $13.5 million. The offering is expected to close around August 1, 2022, with a 30-day option for underwriters to purchase an additional 150,000 shares. Proceeds will be utilized for acquisitions and general corporate purposes. Roth Capital Partners is managing the offering. The company operates 25 systems providing water and wastewater services, recycling nearly 1 billion gallons of water annually.
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