PHOENIX, May 07, 2024 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ:GWRS), a pure-play water resource management company, has entered into an agreement to acquire seven water systems from the City of Tucson's water utility. The systems are located in and around Pima County where they serve approximately 2,200 customers. Following their acquisition, they would be integrated with existing Global Water utilities in the area. The addition of the new systems will bring the total number of Global Wate ...

PHOENIX, April 30, 2024 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ:GWRS), a pure-play water resource management company, has declared, under its dividend policy a monthly cash dividend in the amount of $0.02508 per common share (an annualized dividend rate of $0.30096 per share). The dividend will be payable on May 31, 2024, to holders of record at the close of business on May 17, 2024. About Global Water Resources Global Water Resources, Inc. is a leading water resource management company tha ...

PHOENIX, April 17, 2024 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, will hold a conference call on Thursday, May 9, 2024 at 1:00 p.m. Eastern time to discuss results for the first quarter ended March 31, 2024. The financial results will be issued in a press release prior to the call. Global Water Resources management will host the presentation, followed by a question-and-answer period. Date: Thursday, May 9, 2024Time: 1:00 p.m. Eastern time ...

PHOENIX, April 17, 2024 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ:GWRS), a pure-play water resource management company, will hold a conference call on Thursday, May 9, 2024 at 1:00 p.m. Eastern time to discuss results for the first quarter ended March 31, 2024. The financial results will be issued in a press release prior to the call. Global Water Resources management will host the presentation, followed by a question-and-answer period. Date: Thursday, May 9, 2024Time: 1:00 p.m. Eastern time ...

Global Water Resources Inc.’s (GWRS) strategic investments, planned acquisitions, spreading operations in new service areas and expansion through organic means will further drive its performance. Given its growth opportunities, GWRS makes for a solid investment option in the utility sector.Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.Growth Projections & Surprise HistoryThe Zacks Consensus Estimate for 2024 earnings per share has moved up 3.3% ...

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

Service Connections and Growth - As of December 31, 2023, Belmont served 622 active service connections and has agreements to serve approximately 100,000 home sites at full build-out[47]. - Farmers Water Co. served 3,462 active water connections with a service area of approximately 21.0 square miles as of December 31, 2023[58]. - The company acquired Mirabell, which served 61 active water connections as of December 31, 2023, expanding its footprint in Tucson[55]. - The service area of Hassayampa, a wastewater utility, is expected to provide growth opportunities as development commences in the Tonopah area[48]. - The company has entered into agreements with developers for mixed-use developments, indicating a strategic focus on market expansion[47]. Compliance and Regulatory Standards - The company achieved a compliance rate of 99.9% for meeting state and federal drinking water standards in 2023[62]. - The overall compliance rating for wastewater requirements was also 99.9%, reflecting the company's commitment to environmental standards[62]. - The company maintains a proactive approach to regulatory compliance, investing in relationships with regulatory agencies[75]. - The company’s operations are subject to regulatory compliance, which may increase costs and require facility alterations in response to new standards[108]. - The company is subject to regulatory authority by the ACC, which influences cost recovery and financial condition[116]. Water Supply and Management - The company plans to rely on groundwater and recycled water to meet future demands, although groundwater access is closely regulated[76]. - The company’s water supply is primarily derived from groundwater, with plans to augment supplies with recycled and surface water in the future[89]. - The company’s recycled water meets Arizona's Aquifer Water Quality Standards and is recognized as Class A+, the highest quality of recycled water regulated by the ADEQ[94]. - The company has obtained a Designation of Assured Water Supply (DAWS) for approximately 22,900 acre-feet of water use in the Maricopa/Casa Grande service territory[80]. - In 2023, the company utilized approximately 8,750 acre-feet of the annually available 22,914 acre-feet permitted in the DAWS, indicating efficient water management[81]. Financial Performance - Total revenues for the year ended December 31, 2023, increased to $53,028,000, up 18.5% from $44,728,000 in 2022[360]. - Net income for 2023 was $7,982,000, representing a 45% increase compared to $5,506,000 in 2022[360]. - Operating income rose to $12,286,000 in 2023, a 57.5% increase from $7,819,000 in the previous year[360]. - Water services revenue increased to $24,860,000, up 19.0% from $20,885,000 in 2022[360]. - Wastewater and recycled water services revenue grew to $25,382,000, an increase of 6.4% from $23,843,000 in 2022[360]. Operating Expenses and Capital Expenditures - Total operating expenses for 2023 were $40,742,000, up from $36,909,000 in 2022, reflecting a 10.0% increase[360]. - Capital expenditures in 2023 totaled $22,312,000, a decrease of 34.5% from $33,984,000 in 2022[365]. - Increased operating expenses associated with business expansion may negatively impact operating income and profit margins[135]. - The company anticipates significant capital expenditures to support service provision in existing areas and to fund system and technology development[138]. Risks and Challenges - The company faces competition for new service areas and acquisitions from other utilities, including EPCOR Water Arizona Inc. and Arizona Water Company[95]. - Water supply limitations in Arizona could adversely affect the company's ability to meet customer demand and revenue growth[127]. - The company may not be able to recover increased operating costs due to water shortages in a timely manner[130]. - Legal proceedings and claims could materially affect the company's operating results and financial condition[123]. - Climate variability poses risks that could affect water supply and demand, potentially leading to decreased revenues and increased costs[141]. Employee and Operational Efficiency - As of December 31, 2023, the company employed 106 full-time and 3 part-time employees, marking a 9% increase from the previous year due to growth and the acquisition of Farmers[100]. - The company employs advanced technology, including SCADA and automated meter reading, to enhance operational efficiency and customer service[91]. - The company may face challenges in recruiting and retaining qualified personnel, which could impact operational efficiency and profitability[156]. Shareholder and Stock Information - The company intends to continue paying a regular monthly dividend of $0.02508 per share, totaling $0.30096 annually, but future payments are not guaranteed[194]. - Approximately 54% of the company's outstanding common stock is owned by directors, executive officers, and stockholders holding more than 5%, which may limit other stockholders' influence over corporate matters[190]. - The market price of the company's common stock may be volatile due to various factors, including operating performance and market conditions[191]. Cybersecurity and Technology Risks - The company faces risks related to cybersecurity, including potential disruptions to operations and financial reporting due to breaches, which could materially impact business and cash flows[184]. - The company relies on third-party information technology systems, and disruptions could significantly limit operational efficiency, affecting billing and customer service[186]. - The company’s ability to manage and operate efficiently may be hindered by disruptions in telecommunications provided by third-party vendors[189].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________________________ FORM 10-Q _____________________________________________________________ For the quarterly period ended September 30, 2023 (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _____________ ...

Global Water Resources, Inc. (NASDAQ:GWRS) Q2 2023 Earnings Conference Call August 10, 2023 1:00 PM ET Company Participants Joanne Ellsworth - Executive Vice President, Corporate Affairs Ron Fleming - President and Chief Executive Officer Mike Liebman - Chief Financial Officer Chris Krygier - Chief Operating Officer Operator Greetings, ladies and gentlemen. Thank you for standing by. Welcome to the Global Water Resources, Inc. 2023 Second Quarter Conference Call. [Operator Instructions] I would like to remi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _____________________________________________________________ FORM 10-Q _____________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Co ...