Global Water Resources Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue grew 5% YoY, but net income fell as depreciation and interest outpaced rate recovery. Santa Cruz rates take effect in December, with four additional rate filings planned for H1 2027 to reduce regulatory lag.
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Q2 2026 revenue rose 24.8% year-over-year to $17.8 million, with net income up to $2.7 million and Adjusted EBITDA increasing 15%. Growth is driven by acquisitions, organic connections, and infrastructure investments, while new rate cases and economic development in Phoenix support a positive outlook.
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Revenue grew 6.7% year-over-year to $13.3 million, but higher expenses led to a net loss of $0.4 million. Regulatory settlements and capital investments are expected to drive future earnings growth, with new rates for key utilities effective later in 2026.
Fiscal Year 2025
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Revenue rose 5.8% to $55.8M in 2025, driven by acquisitions and organic growth, but net income fell to $3M due to higher expenses and one-time write-offs. Regulatory progress and infrastructure investments position the company for long-term growth.
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Q3 2025 revenue rose 8.4% year-over-year, driven by the Tucson acquisition and organic growth, but net income declined due to higher costs. Regulatory progress continues, with new rates expected by mid-2026 and significant infrastructure investments supporting long-term growth.
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Q3 performance was stable despite weather changes, with growth driven by new connections, rate increases, and the Tucson acquisition. Strong organic and acquisition-driven expansion continues, supported by favorable economic trends, infrastructure projects, and new legislation enabling agricultural-to-urban water transitions.
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Q2 2025 revenue rose 5.4% to $14.2M, driven by connection growth and higher rates, while net income dipped to $1.6M. The Tucson acquisition and new Arizona water legislation support long-term growth, despite near-term permit declines and inflationary pressures.
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Q1 2025 revenue rose 7.3% year-over-year to $12.5 million, with service connections up 4.3%. Despite a dip in single-family permits, strong multi-family and industrial growth, new rates, and acquisitions are expected to drive future expansion.
Fiscal Year 2024
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Active connections grew 4.4% and regulated revenue rose 4.9% in 2024, while net income declined due to non-recurring ICFA revenue. Major rate cases and acquisitions position the company for continued growth amid strong Arizona economic and housing trends.
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Active service connections rose 4.7% year-over-year, with strong growth in multi-family and industrial sectors. Q3 2024 revenue was $14.3 million, net income $2.9 million, and Adjusted EBITDA up 7.2%. Major investments and regulatory actions position the company for continued expansion.
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Active service connections and regulated revenue grew strongly year-over-year, supported by robust housing and industrial activity. Operating expenses increased due to higher depreciation and personnel costs, while net income remained stable. Regulatory approvals and acquisitions are expected to drive future growth.