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. operates as a pure-play water resource management company providing regulated water, wastewater and recycled water service in Arizona. Its service areas are concentrated primarily in growth corridors around metropolitan Phoenix and Tucson, where utility revenue is tied to tariff rates, customer connections, consumption and infrastructure investment.
Recurring GWRS news covers monthly dividend declarations, quarterly and annual financial results, conference-call updates, Arizona Corporation Commission rate proceedings and capital actions supporting utility operations. Company updates also address utility consolidation, acquired water systems, recycled water practices, automation and the performance of regulated subsidiaries such as Global Water – Santa Cruz Water Company and Global Water – Palo Verde Utilities Company.
Global Water Resources (NASDAQ: GWRS) has been invited to present at the Bank of America 2020 Water Conference on December 10, 2020. CEO Ron Fleming, SVP and CFO Mike Liebman, and Chief Strategy Officer Christopher Krygier will participate in meetings with analysts and investors. The presentation will cover third quarter results, reporting an 8.2% revenue increase to $10.8 million, driven by organic growth and higher rates. The company will also discuss its active M&A strategy, including the acquisition of four water companies in Arizona.
Global Water Resources (NASDAQ: GWRS) has acquired Tortolita Water Company and Lyn-Lee Water Company, adding 58 active water connections near Tucson, Arizona, to its portfolio. This acquisition, the third and fourth in Pima County this year, aims to enhance water management capabilities for the communities served. The Lyn-Lee Water Company faces operational challenges requiring infrastructure investments, which Global Water plans to address. This strategic move is part of the company's ongoing consolidation efforts in the region, where it currently operates 47,827 water connections.
Global Water Resources, Inc. (NASDAQ: GWRS) has acquired Francesca Water Company, a Tucson-based utility, adding 115 active connections and expanding its total to 47,769. This acquisition complements Global Water's recent purchase of Mirabell Water Company and enhances its service area in Pima County. The company's president, Ron Fleming, highlighted the strategic importance of integrating Francesca into their operational framework, utilizing Total Water Management to drive efficiency and resource conservation.
Global Water Resources, Inc. (NASDAQ: GWRS) reported a revenue increase of 8.2% to $10.8 million for Q3 2020, driven by growth in active service connections and higher rates. Net income rose 8.0% to $1.1 million, with adjusted EBITDA up 16.1% to $5.5 million. The company declared a monthly dividend of $0.0241 per share, increasing to $0.02434 in December. Operational highlights include a 20.4% rise in recycled water volume and a planned rate application for a $4.6 million increase. The acquisition of Mirabell Water Co. adds over 60 connections, supporting future growth.
Global Water Resources (NASDAQ: GWRS) has acquired Mirabell Water Co., adding over 60 active connections in Tucson, Arizona. This strategic move supports the company's consolidation efforts in a fragmented local utility market. The Arizona Corporation Commission facilitated the swift closure of the transaction, promoting utility consolidation under its recent reforms. CEO Ron Fleming emphasized the benefits of improved management and modernization for Mirabell’s customers. This acquisition marks GWRS’s first since 2018, reflecting a renewed focus on growth opportunities.
Global Water Resources, Inc. (NASDAQ: GWRS) announced a monthly cash dividend of $0.0241 per common share, equating to an annualized total of $0.2892 per share. This dividend will be paid on November 30, 2020 to shareholders of record as of November 16, 2020. The company focuses on water resource management, operating 12 utilities primarily in the growth corridors around metropolitan Phoenix and recycling nearly 1 billion gallons of water annually.
Global Water Resources (NASDAQ: GWRS) will hold a conference call on November 6, 2020, at 1:00 p.m. Eastern time to discuss its third-quarter results for the period ending September 30, 2020. The call will be led by the management team, followed by a Q&A session. Interested parties can join via toll-free and international dial-in numbers provided. A replay of the call will be available through November 20, 2020. Global Water Resources operates 12 utilities, focusing on sustainable water management through its Total Water Management approach, recycling nearly 1 billion gallons of water annually.
Global Water Resources (NASDAQ: GWRS) has been recognized as a ‘Utility of the Future Today’ for its innovative water reuse program. This accolade, awarded by a national consortium led by the Water Environment Federation, highlights the company's efforts in community engagement and resource recovery. Their Total Water Management (TWM) approach optimizes water cycle management by integrating water, wastewater, and recycled water utilities, significantly increasing recycled water usage from zero in 2003 to over 8.5 billion gallons by 2020. The recognition ceremony will occur on October 9.
Global Water Resources has declared a monthly cash dividend of $0.0241 per common share, totaling an annualized amount of $0.2892. This dividend will be paid on October 30, 2020 to shareholders on record by the close of business on October 16, 2020. The company operates 12 utilities and recycles nearly 1 billion gallons of water annually, focusing on Total Water Management (TWM) to enhance water conservation and supply protection in growing areas around metropolitan Phoenix.
Global Water Resources, Inc. (NASDAQ: GWRS) will present at the Janney Virtual Utilities Conference on September 15-16, 2020. CEO Ron Fleming, CFO Mike Liebman, and Chief Strategy Officer Christopher Krygier will engage in one-on-one meetings with investors on September 16, providing insights into the company's investment opportunities. Global Water Resources manages 12 utilities primarily in the Phoenix area, recycling nearly 1 billion gallons of water annually. For more details, visit their website or contact investor relations.