Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $15.5 million, an increase of $1.2 million or 8.4% compared to Q3 2024 [13] - Year-to-date revenue increased by $2.8 million or 7% to $42.2 million [13] - Operating expenses for Q3 2025 were $12.6 million, up $2.3 million or 21.9% from Q3 2024 [13] - Net income for Q3 2025 was $1.7 million or $0.06 per diluted share, down from $2.9 million or $0.12 per diluted share in Q3 2024 [16] - Adjusted EBITDA for Q3 2025 was $7.8 million, a decrease of $0.4 million or 5% from Q3 2024 [17] Business Line Data and Key Metrics Changes - Total active service connections increased by 6.6% to 68,130 as of September 30, 2025 [9] - The annualized total active service connection growth rate, excluding the Tucson acquisition, was 3.3% [9] - The single-family dwelling unit market in the Phoenix area saw a 29% decrease in building permits in Q3 2025 compared to Q3 2024 [10] Market Data and Key Metrics Changes - The City of Maricopa was ranked sixth among the fastest-growing large municipalities in the U.S., with a population growth of 7.4% in 2024 [8] - The Highway 347 expansion project is expected to begin construction in fiscal year 2026, which will support the growth of the City of Maricopa [6] Company Strategy and Development Direction - The company aims for long-term value creation and strong total returns to shareholders through strategic acquisitions and infrastructure investments [4] - The Tucson acquisition is expected to generate around $1.5 million in annual revenue and is seen as immediately accretive [5] - The company is focused on integrating the newly acquired Tucson water systems and executing capital investment strategies [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as high inflation impacting earnings growth but remains optimistic about future growth drivers [11] - The company expects a fair outcome from the ongoing rate case, which is anticipated to conclude in mid-2026 [19] - Management believes the new water legislation will drive growth in service areas and improve aquifer sustainability [5] Other Important Information - Year-to-date capital investments totaled $49.6 million for infrastructure improvements [9] - The company is in the middle of the rate case process, with further steps including formal written testimony and a hearing [18] Q&A Session Summary Question: Rate case completion timeline - Management confirmed that the rates are expected to change by mid-2026, potentially around July 1 [24] Question: Ag to Urban program impact - Management explained that the program allows for the conversion of agricultural water rights to municipal water supply without the need to purchase or lease rights, benefiting aquifer sustainability [26][28] Question: Regulatory proposal differences - Management clarified that the significant difference in proposed rates is due to ongoing processes and the inclusion of post-test year plant [32][33] Question: Expected rate base figure - Management confirmed that the expected rate base figure is still valid but not reported in quarterly financials [34][35]

Core Insights - Cadiz Inc. is positioned for significant growth in 2026 following critical milestones achieved in 2025, marking it as a watershed year for the company [2][7] Financial Performance - Total revenue for Q3 2025 reached $4.0 million, a 42% increase from $2.8 million in Q3 2024 [4] - Year-to-date revenue for ATEC reached $10.1 million, compared to $3.5 million in the same period of 2024, reflecting strong growth [4] - Total company revenue for the nine months ending September 30, 2025, was $11.2 million, up 131% year-over-year [6] - Operating loss for Q3 2025 was $4.9 million, slightly higher than the $4.8 million loss in Q3 2024 [10] - Net loss for Q3 2025 was $7.1 million, compared to $6.8 million in Q3 2024 [10] - Cash used in operations for the first nine months of 2025 was $12 million, down from $15.3 million in the same period of 2024 [10] Project Developments - The Mojave Groundwater Bank Project secured its first tranche of construction financing through a $51 million investment from the Lytton Rancheria of California [4] - ATEC Water Systems has shipped 308 filtration systems year-to-date, more than double the volume achieved in 2024 [3] - A Memorandum of Understanding (MOU) was executed with EPCOR for the purchase and sale of 25,000 AFY of water supply, with capital contributions expected for the Southern Pipeline construction [4] - An MOU with the U.S. Bureau of Reclamation supports the development of the Mojave Groundwater Bank amid ongoing negotiations for water sharing rules in the Colorado River Basin [4] Operational Efficiency - Gross margin in Q3 2025 was approximately 50%, up from 32% in the prior year, indicating improved production efficiencies [4] - Q3 2025 marked the second consecutive quarter of operating profit for ATEC, confirming strong market adoption [5] Future Outlook - Cadiz is well-positioned to unlock long-term recurring cash flows and deliver sustainable shareholder value as it enters the construction phase of major water supply and storage projects [7]

, PURE CYCLE CORPORATION FISCAL YEAR 2025 EARNINGS PRESENTATION - - Presented By: MARK HAIRDING FORWARD LOOKING STATEMENT Statements that are not historical tacts contained or incorporated by reference in this presentation are "forward- looking statements" ("FLS"} within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21 C of the Securities Exchange Act of 1934 as amended. FLS involve risks and uncertainties that could cause actual r ...

Company Overview - American Water Works Company, Inc. (AWK) is headquartered in Camden, New Jersey, providing water and wastewater services to approximately 1,700 communities across 14 states, serving around 3.5 million active customers. The company has a market capitalization of $25.3 billion and operates an extensive infrastructure including wastewater treatment plants, pipelines, wells, dams, and storage facilities [1]. Stock Performance - AWK shares have underperformed the broader market over the past year, declining by 2%, while the S&P 500 Index has increased by nearly 14.5%. Year-to-date, AWK stock is up 4.2%, compared to a 16.5% rise in the S&P 500 [2]. - Compared to the Global X Clean Water ETF (AQWA), which gained about 8.9% over the past year and 16.4% year-to-date, AWK's performance has been less favorable [3]. Q3 Financial Results - On October 29, AWK reported its Q3 results, with an EPS of $1.94, surpassing Wall Street expectations of $1.90. The company's revenue reached $1.5 billion, exceeding forecasts of $1.3 billion [4]. Earnings Expectations - For the current fiscal year ending in December, analysts expect AWK's EPS to grow by 6.3% to $5.73 on a diluted basis. The company's earnings surprise history is mixed, having beaten consensus estimates in three of the last four quarters while missing once [5]. Analyst Ratings - Among the 15 analysts covering AWK stock, the consensus rating is a "Hold," consisting of three "Strong Buy" ratings, ten "Holds," one "Moderate Sell," and one "Strong Sell" [5]. - The analyst outlook has improved slightly, with two analysts suggesting a "Moderate Sell" a month ago. On November 5, Jefferies Financial Group upgraded AWK to a "Hold" rating with a price target of $124. The mean price target of $143.91 indicates a 10.9% premium to current price levels, while the highest price target of $160 suggests an upside potential of 23.3% [6].

Core Insights - Global Water Resources, Inc. reported a total revenue increase of 8.4% to $15.5 million for Q3 2025, driven by new connections from the acquisition of seven water systems and organic growth [5][10] - Net income for Q3 2025 decreased to $1.7 million, a decline of 41.3% compared to the same period last year, primarily due to increased depreciation and interest expenses [17][29] - The company declared a monthly cash dividend of $0.02533 per common share, amounting to an annualized rate of $0.30396 [31] Financial Highlights - Total revenue for the nine months ended September 30, 2025, increased by 7.0% to $42.2 million, attributed to organic growth and the acquisition of water systems [20] - Adjusted EBITDA for Q3 2025 decreased by 5.0% to $7.8 million, while it remained consistent at $20.4 million for the nine months [18][30] - The company invested $14.2 million in infrastructure projects to support growth and existing utilities [5] Operational Highlights - Total active service connections increased by 6.6% to 68,130 as of September 30, 2025, with an annualized growth rate of 3.3% excluding the recent acquisition [33] - Water consumption remained steady at 1.3 billion gallons [5] - The company completed the acquisition of seven water systems from Tucson Water, expected to generate approximately $1.5 million in annual revenue [5][10] Management Commentary - The CEO highlighted strong top-line growth driven by new connections and successful rate implementations in Southern Arizona [4] - The company is optimistic about growth prospects due to Arizona's positive economic outlook, with employment expected to rise by 486,000 jobs through 2033 [7] - Management is focused on extending the benefits of consolidation and regionalization while navigating ongoing rate cases [10] Business Strategy - The near-term growth strategy includes increasing service connections, improving operational efficiencies, and pursuing strategic acquisitions [32] - The company aims to benefit from Arizona's 'Ag-to-Urban' program, allowing landowners to convert water rights for new developments [6] - The company continues to monitor macroeconomic factors that may impact operations, including housing market trends and construction activity [35][36]

Core Insights - Pure Cycle Corporation reported a net income of $13.1 million for the fiscal year ended August 31, 2025, representing a 13% increase from the previous year, marking the eighth consecutive year of positive net income [1][5] - Earnings per fully diluted common share increased to $0.54, up from $0.48 in 2024, reflecting a 12.5% growth [1][5] - The company experienced a 738% increase in oil and gas royalty income, totaling $6.7 million, due to the completion of six wells at Sky Ranch [1][5] Financial Performance - Total revenue for the year was $26.1 million, a 9% decrease from $28.7 million in 2024 [5][9] - EBITDA for the year was reported at $20.2 million, an 11% increase from $18.2 million in 2024 [5][4] - Cash and cash equivalents stood at $21.9 million as of August 31, 2025 [5][15] Land Development - The company continues to develop its Sky Ranch Master Planned Community, with ongoing phases including Phase 2D expected to be completed in fiscal 2026 and Phase 2E anticipated for fiscal 2027 [1][12] - Lot sales revenue decreased to $13.7 million in 2025 from $16.0 million in 2024, attributed to delays in closing Phase 2D [17] - The number of lots delivered decreased due to these delays, but the company expects to complete the delivery of all 180 lots in Phase 2D during fiscal 2026 [17] Water and Wastewater Operations - Water deliveries decreased to 639 acre-feet in 2025 from 1,818 acre-feet in 2024, primarily due to reduced demand from oil and gas customers [16] - Water and wastewater tap sales increased significantly, with 182 taps sold in 2025 compared to 73 in 2024, generating $7.3 million in revenue [10][16] - The average price of a water and wastewater tap rose to approximately $40,000 in 2025 from $38,000 in 2024 [16] Single-Family Rentals - The single-family rental segment reported rental income from 14 homes, with plans to add five rental townhomes and 40 single-family detached homes in fiscal 2026 [13][18] - The overwhelming demand for rental homes at Sky Ranch is expected to lead to a total of 100 homes in Phase 2, with potential for more than 200 homes as development continues [13][14] Capital Management - The company is focused on growth and shareholder returns, prioritizing investment in development projects while maintaining liquidity for share repurchase and strategic initiatives [2]

Core Insights - Consolidated Water Co. Ltd. (CWCO) reported third-quarter 2025 earnings per share (EPS) of 34 cents, exceeding the Zacks Consensus Estimate of 24 cents by 41.67% and improving 9.67% from the previous year's EPS of 31 cents [1][7] - Total revenues for the quarter reached $35.1 million, surpassing the Zacks Consensus Estimate of $33 million by 7.07% and reflecting a year-over-year increase of 5.1% from $33.4 million [2][7] Revenue Breakdown - Retail revenues increased by 2.6% to $7.8 million due to higher sales volumes [3] - Bulk revenues decreased by 4.5% to $8.4 million, attributed to a decline in energy-related revenues in the Bahamas [3] - Manufacturing revenues rose by 6.8% to $4.7 million [3] - Services revenues grew by 12.7% to $14.3 million, driven by a 50% increase in construction revenue to $6.4 million and a 3% rise in revenues from operations and maintenance (O&M) contracts [3] Operational Highlights - The Grand Cayman utility experienced a 6% increase in retail water sales, influenced by lower rainfall compared to the same quarter in 2024 and an increase in service connections [4] - The company secured two water treatment plant construction projects valued at approximately $15.6 million, with revenues expected to be realized in 2026 [5] Financial Performance - Gross profit for the third quarter was $12.95 million, an increase of 11.21% from $11.63 million in the same quarter of 2024 [5] - General and administrative expenses rose nearly 4.3% to $7.2 million [5] - Cash and cash equivalents totaled $123.6 million as of September 30, 2025, compared to $99.4 million at the end of 2024 [6] - Total long-term debt was $0.03 million as of September 30, 2025, down from $0.07 million at the end of 2024 [6] Cash Flow - Cash flow from operating activities for the first nine months of 2025 amounted to $35.9 million, compared to $37.2 million in the same period of the previous year [8] Market Position - Consolidated Water currently holds a Zacks Rank 2 (Buy) [9]

Core Points - Pennsylvania American Water awarded $131,500 in grants to 203 fire and rescue organizations across 32 counties through its 2025 annual Firefighting Support Grant Program [1] - Since the inception of the grant program in 2009, Pennsylvania American Water has contributed over $1 million to assist local fire departments in acquiring emergency gear, life-saving equipment, training materials, and essential firefighting apparatus [1]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores provide a framework for evaluating stocks based on value, growth, and momentum [2] Zacks Style Scores Overview - Stocks are rated from A to F based on their value, growth, and momentum characteristics, with A being the highest score [3] - The Value Score focuses on identifying undervalued stocks using financial ratios like P/E and Price/Sales [3] - The Growth Score assesses a company's financial health and future outlook through earnings and sales projections [4] - The Momentum Score identifies stocks with favorable price trends and earnings outlooks [5] - The VGM Score combines all three Style Scores to highlight stocks with the best value, growth, and momentum [6] Zacks Rank and Style Scores Interaction - The Zacks Rank uses earnings estimate revisions to help investors build successful portfolios, with 1 (Strong Buy) stocks averaging a +23.93% annual return since 1988 [7] - There can be over 800 top-rated stocks at any time, making it essential to utilize Style Scores for selection [8] - To maximize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [9] - The direction of earnings estimate revisions is crucial; stocks with lower ranks but high Style Scores may still face price declines [10] Company Spotlight: American States Water (AWR) - American States Water Company provides water, wastewater, and electricity services in the U.S. and holds a Zacks Rank of 2 (Buy) with a VGM Score of B [11] - AWR is projected to have a year-over-year earnings growth of 4.7% for the current fiscal year, making it attractive for growth investors [11] - Recent analyst revisions have increased the earnings estimate for fiscal 2025 by $0.04 to $3.32 per share, with an average earnings surprise of +3.6% [12]

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