GWRS Q1 2022 revenue $10.0M (+8.3%); net income turns positive to $0.9M

Global Water Resources, Inc.

2022-Q1 EPS reported $0.04 revenue$10,029,000

Revenue $10.0M, up 8.3% YoY, driven by organic growth and Las Quintas connection additions.
Net income $0.9M ($0.04 EPS) vs net loss of $0.2M (($0.01) EPS) in Q1 2021.
Adjusted EBITDA $5.2M, a 45.2% increase from $3.6M a year earlier.
Active connections up 9.7% to 55,012; signed definitive agreement to acquire Farmers Water Co. (~3,300 connections).
Monthly dividend maintained at $0.02458 ($0.29496 annualized); rate case decision now expected in Q2 2022.

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