Global Water Resources Q3 revenue up 22.2%, net income up 56.2%; announces $20M note offering

Global Water Resources, Inc.

2023-Q3 EPS reported $0.28 revenue$40,660,000

Total revenue $14.5M (+22.2% YoY); net income $2.6M ($0.11 EPS) vs $1.7M ($0.07 EPS) a year ago.
Adjusted EBITDA $7.6M (+24.5% YoY); active connections up 8.7% to 61,036.
Declared monthly dividend of $0.02483/share ($0.29796 annualized), payable Nov 30, 2023.
Entered $20M 6.91% Senior Secured Notes due Jan 2034; proceeds for refinancing and capex; closing expected Jan 3, 2024.
Management cites rebound in housing permits: Maricopa single-family permits up 62% YoY in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Water Resources, Inc. reported the third quarter ended September 30, 2023 results: revenue $14.5 million, net income $2.6 million, EPS $0.11 per share.

Period: the third quarter ended September 30, 2023
Revenue: $14.5 million
Net income: $2.6 million
EPS: $0.11 per share
Result: reported results

Exact text from the filing

call at 1:00 p.m. Eastern time tomorrow to discuss the results (see dial-in information below). Q3 2023 Financial Highlights • Total revenue increased $2.6 million or 22.2% to $14.5 million, which included $0.5 million of unregulated revenues. Regulated revenue (excluding unregulated revenue) increased $2.1 million or 17.8%. • Net income increased $0.9 million or

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Global Water Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001434728-23-000355

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