Global Water Resources ( (GWRS) ) has released its Q4 earnings. Here is a breakdown of the information Global Water Resources presented to its investors.
Global Water Resources, Inc. is a water resource management company specializing in water, wastewater, and recycled water services, primarily operating in the growth corridors around metropolitan Phoenix and Tucson. The company is recognized for its Total Water Management approach, which integrates water cycle management to maximize recycled water use.
In its full-year 2024 earnings report, Global Water Resources reported a 4.9% increase in regulated revenue to $52.7 million, driven by organic connection growth. However, total revenue saw a slight decline of 0.6% due to the absence of unregulated revenue from infrastructure coordination and financing agreements that were present in 2023. Despite a 27.5% decrease in net income to $5.8 million, adjusted net income rose by 2.0% to $6.3 million, and adjusted EBITDA increased by 5.2% to $26.7 million.
Key financial metrics highlighted include a 4.4% increase in total active service connections and a 3.3% rise in water consumption. The company invested $32.3 million in infrastructure projects and announced a dividend increase. Strategic moves include a settlement agreement for additional revenue, a new executive appointment, and plans to acquire water systems from the City of Tucson.
Looking ahead, Global Water Resources anticipates continued growth in service connections, supported by projected increases in single-family housing permits in the Phoenix area. The company remains committed to expanding and consolidating its water and wastewater utilities, aiming to enhance community benefits and shareholder value.