secwatch.observer — SEC 8-K summary
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Issuer:     Global Water Resources, Inc. (GWRS)
CIK:        0001434728
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001434728-24-000155
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Global Water Resources Q1: regulated revenue up 6.9%, net income falls on ICFA timing
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- Total revenue $11.6M (-11.6% YoY); regulated revenue $11.6M (+6.9%) on 4.4% more connections (62,451).
- Net income $0.7M ($0.03 EPS) vs $2.5M ($0.10) YoY, due to $2.3M ICFA revenue in Q1 2023 not recurring.
- Adjusted EBITDA $5.4M, up 4.5% YoY; monthly dividend maintained at $0.02508/share ($0.30096 annualized).
- Subsidiary agreed to buy 7 water systems from City of Tucson for $8.4M cash, serving ~2,200 connections.
- Saguaro District rate case settlement hearing held; ACC decision expected June 11, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1434728/000143472824000155/0001434728-24-000155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1434728/000143472824000155/gwrs-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001434728-24-000155

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