Global Water Resources, Inc. (GWRS) Q3 Earnings Beat Estimates

Financial Performance - Global Water Resources, Inc. (GWRS) reported quarterly earnings of $0.12 per share, exceeding the Zacks Consensus Estimate of$ 0.11 per share, and showing an increase from $0.11 per share a year ago, representing an earnings surprise of 9.09% [1] - The company posted revenues of$ 14.32 million for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 2.25%, and a decrease from $14.53 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - Global Water Resources shares have declined approximately 2.4% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the upcoming quarter at$ 0.06 on revenues of $13.2 million, and$ 0.27 on revenues of $53.4 million for the current fiscal year [7] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Context - The Utility - Water Supply industry, to which Global Water Resources belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]