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 released its second sustainability report, showcasing its Total Water Management (TWM) leadership. The report, prepared using SASB Standards, highlights the company's commitment to sustainability and environmental stewardship in Arizona communities.
Key points include:
- Celebrating 20 years of award-winning TWM
- Increased recycled water usage by 6.2% to 1.4 billion gallons in 2023
- Implementation of smart water management programs and advanced metering infrastructure
- Unique six-tier rate structure with conservation incentives
- 9.8% increase in active service connections, totaling 61,791
- $22.3 million invested in service area expansion and improvement
- Recognition as a 'Utility of the Future Today' for superior water reuse practices
Global Water's focus on water stewardship and innovative practices positions it well to address evolving water sustainability challenges in the western U.S.
Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, will present at the Janney Virtual Water Utilities Conference on September 19, 2024. CEO Ron Fleming, SVP and CFO Mike Liebman, and COO Chris Krygier will participate in a virtual fireside chat and one-on-one meetings with analysts and investors.
The presentation will be webcast live at 3:00 p.m. Eastern time and available for replay. Management will discuss the company's Q2 2024 growth, with revenue up 3.9% to $13.5 million and net income of $0.07 per share. They will also highlight GWRS's leadership in utility consolidation, automation, and water resource management, as well as its active M&A program expanding its portfolio in Arizona's major metro growth corridors.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has announced a monthly cash dividend of $0.02508 per common share. This translates to an annualized dividend rate of $0.30096 per share. The dividend is scheduled for payment on September 30, 2024, to shareholders of record as of the close of business on September 16, 2024. This declaration aligns with the company's established dividend policy, demonstrating its commitment to providing regular returns to shareholders.
Global Water Resources (NASDAQ: GWRS) reported Q2 2024 results with total revenue increasing 3.9% to $13.5 million. Net income decreased slightly by 0.5% to $1.7 million or $0.07 per share. Total active service connections grew 4.9% to 63,256. The company invested $6.4 million in infrastructure projects and secured a $2.4 million loan for improvements. Global Water also announced plans to acquire seven water systems from the City of Tucson for $8.4 million, adding approximately 2,200 water service connections. The company continues to focus on organic growth and potential acquisitions in Arizona's Sun Corridor, supported by favorable macro trends in the region.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has announced a monthly cash dividend of $0.02508 per common share. This translates to an annualized dividend rate of $0.30096 per share. The dividend is scheduled for payment on August 30, 2024, to shareholders of record as of the close of business on August 16, 2024. This declaration aligns with the company's established dividend policy, demonstrating its commitment to providing regular returns to shareholders.
Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has announced its monthly cash dividend. The company will pay $0.02508 per common share, which translates to an annualized dividend rate of $0.30096 per share. This dividend is scheduled for payment on July 31, 2024, to shareholders of record as of the close of business on July 17, 2024. This declaration aligns with Global Water Resources' established dividend policy, demonstrating the company's commitment to providing regular returns to its shareholders.
Global Water Resources (NASDAQ: GWRS) announced a monthly cash dividend of $0.02508 per common share, equating to an annualized rate of $0.30096 per share. The dividend will be paid on July 31, 2024, to shareholders recorded by close of business on July 17, 2024.
Global Water Resources (NASDAQ: GWRS) announced a monthly cash dividend of $0.02508 per common share, translating to an annualized dividend rate of $0.30096 per share.
The dividend will be payable on June 28, 2024, to shareholders of record as of June 14, 2024.
This declaration aligns with the company's existing dividend policy.
Global Water Resources, Inc. (NASDAQ: GWRS) reported its first quarter 2024 results, showcasing a total revenue decrease of $1.5 million, an increase in regulated revenue, net income of $0.7 million, and adjusted EBITDA of $5.4 million. The company invested $5.8 million in infrastructure projects and acquired seven water systems around Tucson. Despite challenges like a decrease in total revenue, Global Water remains optimistic about growth opportunities in Arizona's Sun Corridor.
Global Water Resources, Inc. (NASDAQ: GWRS) has agreed to acquire seven water systems from the City of Tucson, adding 2,200 customer connections in Pima County. This acquisition aligns with the company's growth strategy, increasing the total customer base to around 7,200 in the area. The integration will focus on consolidation, technology upgrades, and efficient water management practices. The deployment of advanced metering infrastructure (AMI) will enhance service quality and promote utility consolidation, automation, and water resource management.
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