Global Water Resources Q4 revenue up 11.4% to $12.4M; full-year net income $8.0M

Global Water Resources, Inc.

Q4 net income $1.1M ($0.05 EPS); full-year net income $8.0M ($0.33 EPS) vs $5.5M ($0.24) in 2022.
Full-year revenue $53.0M (+18.6%); adjusted EBITDA $25.3M (+10.8%) on rate hikes and Farmers Water acquisition.
Active service connections up 9.8% to 61,791; organic growth 3.7% excluding Farmers Water.
Dividend raised to $0.30096 annualized; monthly $0.02508 paid Dec 28, 2023; next payable Mar 29, 2024.
Issued $20M senior secured notes at 6.91% due 2034; ACC rate case settlement recommends $351K annual revenue increase.

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 full year ended December 31, 2023 results: revenue $53.0 million, net income $8.0 million or $0.33 per share.

Period: the full year ended December 31, 2023
Revenue: $53.0 million
Net income: $8.0 million or $0.33 per share
Result: reported results

Exact text from the filing

Total revenue increased $8.3 million or 18.6% to $53.0 million for the full year, which included $2.8 million of unregulated revenues.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Water Resources, Inc. reported the quarter ended December 31, 2023 results: revenue $12.4 million, net income $1.1 million, or $0.05 per share.

Period: the quarter ended December 31, 2023
Revenue: $12.4 million
Net income: $1.1 million, or $0.05 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). Financial Highlights • Total revenue increased $1.3 million or 11.4% to $12.4 million in the fourth quarter of 2023 . Total revenue increased $8.3 million or 18.6% to $53.0 million for the full year, which included $2.8 million of unregulated revenues. • Net

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Global Water Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001434728-24-000090

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