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 $0.02458 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.
Global Water Resources (NASDAQ: GWRS) has announced an underwritten public offering of its common stock, with an option for the underwriter to purchase an additional 15% of shares. The offering aims to raise capital for acquisitions and general corporate needs. Roth Capital Partners is the sole manager of the offering. The company’s registration statement was effective as of September 8, 2020, and details will be available through SEC filings. Market and other conditions may impact the offering, with no guarantees on completion or terms.
Global Water Resources (NASDAQ: GWRS) will hold a conference call on August 11, 2022, at 1:00 p.m. Eastern time to discuss its second-quarter results ending June 30, 2022. A press release with financial results will be issued before the call. The conference will include a presentation and a Q&A session. Participants can join via toll-free or international dial-in numbers, or listen to the webcast. Global Water manages 25 systems offering water and wastewater services, recycling over 1 billion gallons annually, and implements Total Water Management to optimize resources.
Global Water Resources (GWRS) has received approval from the Arizona Corporation Commission for new water and wastewater rates, effective August 1, 2022. This adjustment is projected to increase annual revenue by approximately $2.2 million. The rate changes will be phased in over three stages. Additionally, the ACC approved consolidation of rates for several utilities in Pinal County and acquisition premiums related to recent utility acquisitions. The company aims to enhance service quality and maintain infrastructure through this increased revenue.
Global Water Resources (NASDAQ: GWRS) has declared a monthly cash dividend of $0.02458 per common share, amounting to an annualized total of $0.29496 per share. This dividend is payable on July 29, 2022, to shareholders of record by the close of business on July 15, 2022.
The company operates 25 systems providing water, wastewater, and recycled water services, primarily in Phoenix's growth corridors. It effectively implements Total Water Management, recycling over 1 billion gallons of water annually, highlighting its commitment to sustainable practices.
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 will be payable on June 30, 2022, to shareholders of record by June 16, 2022. The company operates 25 systems providing vital water services, recycling over 1 billion gallons of water annually. It employs a Total Water Management (TWM) approach that optimizes water resources and supports conservation in growth areas around Phoenix.
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