Vidler Water Resources Inc - VWTR STOCK NEWS

Vidler Water Resources, Inc. (NASDAQ: VWTR) announced a significant legal victory on April 19, 2022, with the Clark County District Court vacating the Nevada State Engineer’s Order 1309. This decision was made as the court determined that the State Engineer exceeded statutory authority in creating a 'Superbasin' from distinct hydrographic basins. The ruling was favorable for Vidler and other petitioners, potentially impacting water rights and resources in the Southwestern U.S., where the company operates.

D.R. Horton, Inc. (NYSE: DHI) has announced its acquisition of Vidler Water Resources, Inc. (NASDAQ: VWTR) for $15.75 per share in an all-cash transaction, totaling approximately $291 million. This offer represents a 19% premium to Vidler's 90-day average share price and a 39% premium to its book value. Vidler holds critical water rights in the southwestern U.S., essential for D.R. Horton’s development projects. The acquisition is expected to close in the second quarter of 2022, pending customary conditions.

Vidler Water Resources, Inc. (Nasdaq: VWTR) reported significant growth in its fourth quarter and full year results for 2021. Shareholders’ equity increased to $208.6 million, with total revenues reaching $23.4 million in Q4 and $29.2 million for the year. A notable revenue driver was the sale of 55,000 Long-Term Storage Credits generating $22 million. The company also noted a tax benefit of $18.1 million and robust future revenue prospects from water resources in Arizona and Nevada.

Vidler Water Resources, Inc. (NASDAQ: VWTR) has secured TMWA's Board approval for an agreement allowing the sale of up to 400 acre-feet of water credits from its Fish Springs Ranch inventory in Northern Nevada. This 10-year contract guarantees $1 million in annual revenue, enhancing cash flow. The agreement aids TMWA in managing water resources during droughts while enabling Vidler to explore additional markets. Despite lower prices per acre-foot compared to other sales, the deal reduces Vidler's projected annual expenditures significantly.

Vidler Water Resources announced that an alternative energy company has exercised its option to purchase 53,750 Long Term Storage Credits (LTSC) at its recharge facility in Harquahala Valley, Arizona, for $400 each. This sale is expected to generate approximately $21.5 million in revenue, closing in 2021. This agreement follows a previous sale of 1,250 LTSC to the same purchaser, bringing total revenue from LTSC sales to $22 million. Vidler is also in discussions for additional LTSC sales with developers and municipalities.

Vidler Water Resources, Inc. reported a third-quarter net loss of $1.02 million and total revenue of $457,000 for Q3 2021, compared to $2.07 million in Q3 2020. Shareholder equity decreased to $175.1 million from $178.3 million. For the nine months ending September 30, 2021, total revenue was $5.78 million, down from $6.15 million in 2020. However, the company is optimistic about potential future revenue from a sale and option contract for Arizona Long Term Storage Credits, which could generate between $10.7 million and $21.5 million in Q4 2021.

Vidler Water Resources has signed a sale and option contract with a major wind and solar energy producer for 28,000 to 55,000 Long Term Storage Credits (LTSC) at their recharge facility in Harquahala Valley, Arizona. The initial sale involves 1,250 LTSC at $400 each, generating $500,000. The buyer has options to purchase additional LTSC at prices ranging from $400 to $450 each, potentially yielding up to $24.2 million. Vidler’s strategy focuses on sustainable water resource management amidst drought conditions in the Western U.S.

Vidler Water Resources reported its Q2 2021 results, showing total revenue of $2.386 million, a decline from $3.845 million in Q2 2020. The company incurred a net loss of $278,000, compared to a net income of $1.864 million in the prior year. The total cost and expenses for the quarter increased to $2.742 million from $1.981 million. Despite operational challenges, the company is securing water credits and expects continued demand amid ongoing drought conditions in the Western U.S. The stock price remained stable after removal from the Russell 2000 Index.

Vidler Water Resources reported its Q1 2021 results, showing shareholders' equity at $177.9 million, slightly down from $178.3 million in Q4 2020. Total revenue reached $2.93 million, a substantial increase from $229,000 in Q1 2020. The company achieved a net income of $532,000, a turnaround from a loss of $1.81 million last year. Notably, Vidler successfully sold all its water rights inventory in Nevada and New Mexico, anticipating taxable income offset by $155.3 million in Net Operating Losses. Future agreements may yield $1 million annually, enhancing cash flow amidst significant drought conditions.