Global Water Resources, Inc. · NASDAQ:GWRS
Global Water Resources — Q1 2025 Earnings Presentation
33 slides from Global Water Resources's earnings presentation, May 15, 2025
Slide 1: Pure-Play Regulated Water & Wastewater Utility Company
NASDAQ: GWRS NASDAQ:GWRS Pure-Play Regulated Water & Wastewater Utility Company Corporate Presentation May 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements NASDAQ:GWRS Certain statements in this press release and the related conference call include certain forward-looking statements which reflect the company's expectations regarding future events. The forward- looking statements involve a number of assumptions, risks, uncerta
Slide 3: Global Water Resources Key Stats
Global Water Resources Key Stats (NASDAQ: GWRS) NASDAQ:GWRS Stock Price 5/14/25 $10.08 Total Revenue ttm $53.5M Total Active Connections Growth 52 Week Low-High $9.37-$13.98 Net Income ttm $5.7M Avg. Volume (3 mo.) 46K Net Income Margin ttm 10.6% 7.0% CAGR 65,163 Shares Outstanding 27.5M Adjusted EB
Slide 4: Operational & Financial Highlights
Operational & Financial Highlights NASDAQ:GWRS Active Connections Revenues EPS Estimated Rate Base1 Stock Price Year End Higher Rate 64.5K $52.7M Base expected $0.24 to drive higher $212.5M $13.15 future earnings 41% 48% 140% 82% 45.8K $35.5M $117.0M $0.10 $11.50 -13% 2019 2024 2019 2024 2019 2024 2
Slide 5: Global Water Resources — Who We Are
Global Water Resources — Who We Are NASDAQ:GWRS Fast-Growing Provider Service Area Primarily in of Water Resource the Growth Corridors of Management Metropolitan Phoenix & Tucson, Arizona. Own & Operate 32 Systems Active M&A Strategy in Highly Fragmented State Providing Water, Wastewater & Recycled
Slide 6: Mission, Vision & Commitment
Mission, Vision & Commitment NASDAQ:GWRS Our Commitment MISSION Aggregate water & wastewater utilities so that we and our customers can realize the benefits of consolidation, regionalization and environmental stewardship in the face of today’s water scarcity. Deliver high-quality Leverage advanced s
Slide 7: Large Contiguous Investor-Owned Water Utility Service Areas in Growth Corridors
We Establish Large Contiguous Investor-Owned Water Utility Service Areas, Strategically Located in Growth Corridors NASDAQ:GWRS Global Water – Northern Located in Two Fast-Growing Counties1 West Valley Region Scottsdale Water Company Global Water – Turner Ranches Irrigation Maricopa County Pinal Cou
Slide 8: We Manage the Entire Water Cycle Through Total Water Management
We Manage the Entire Water Cycle Through Our Operating Model of Total Water Management NASDAQ:GWRS We Recycle 1 billion+ Gallons of Water Annually 8
Slide 9: Our Recycled Water Relieves Aquifer Demand
Our Recycled Water Relieves Aquifer Demand NASDAQ:GWRS • Water use in 2023 totaled 4.2 billion gallons. • 68% aquifer water or 2.85 billion gallons. Global Water’s Full Year 2023 Water Usage • 32% recycled water or 1.35 billion gallons. • Our Total Water Management practices reduced demand on the Ma
Slide 10: Utilization of Advanced Technology Results in Conservation, Improved Service Levels & Efficiencies
Utilization of Advanced Technology Results in Conservation, Improved Service Levels & Efficiencies NASDAQ:GWRS Advanced Automated Asset Management Centralized Call Centers Treatment Systems Sophisticated Team of Engineers, Analysts Automated Meter Infrastructure Real-time Monitoring & Technicians 10
Slide 11: We Use 42% Less Water than Average
We Use 42% Less Water than Average NASDAQ:GWRS • Total Water Management water Average Daily Consumption by Designated Service Provider reuse practices enables less water Gallons per Capita per Day consumption compared to other 343 service providers. 302 292 • In fact, we use on average 105 gallons o
Slide 12: Reliable Source of Fresh Water Supply
Reliable Source of Fresh Water Supply NASDAQ:GWRS • Underground aquifers are our primary source of fresh Maricopa-Stanfield Sub-basin Aquifer water supply. • We do not rely on the Colorado River for water. • We have an existing assured water supply from the Maricopa-Stanfield Sub-basin aquifer. • We
Slide 13: Ample Underground Water Supply
Ample Underground Water Supply NASDAQ:GWRS • Global Water uses only ~39% of its allocated Maricopa-Stanfield Sub-basin Aquifer portion of the Maricopa-Stanfield Sub-basin Global Water has ~23,000 acre-feet annual capacity aquifer’s annual capacity. • 14,000 acre-feet annually of untapped water ~14,0
Slide 14: Ways We Grow
Ways We Grow NASDAQ:GWRS Utility Rate Increases Rate increases from rate Acquisitions cases with Arizona Make accretive Corporation Commission. New Service Areas acquisitions of water and Expand our service areas wastewater utilities. Organic Growth in Arizona growth Grow our customer base corridors
Slide 15: Strong Active Connection Growth Year Over Year
Organic Connection Growth Strong Active Connection Growth NASDAQ:GWRS Total Active Connections Organic 65,163 Growth Continues Year Over Year Growth Continues Up 4.3% y/y 7.0% at Mar. 31, 2025 CAGR 2020– Q1-25 48,899 Declining Additional Vacancy Growth Rate Opportunities through Acquisitions & New S
Slide 16: Maricopa/Pinal County Business Boom
Organic Connection Growth Maricopa/Pinal County Business Boom NASDAQ:GWRS Aerospace & Defense Data Centers Semiconductor Automated & EVs Sources: Google Maps and company websites. 16
Slide 17: Arizona's Booming Economy
Organic Connection Growth Arizona’s Booming Economy NASDAQ:GWRS • $50.0B of capital investment commitments in Arizona in 2024.1 • $51.2B of capital invested in Arizona for the years 2020 through 2022 was up 610% vs. preceding three years.1 Capital Investments in Arizona • Major new manufacturing fac
Slide 18: City of Maricopa's Favorable Median Home Prices
New Service Areas City of Maricopa’s Favorable Median Home Prices NASDAQ:GWRS Median Home Prices by City Median Home Prices March 20251 $425K $470K $425K $448K $567K $415K $530K Buckeye $567K $470K $469K $448K $425K $425K $415K $530K $359K $359K Maricopa’s median home price of $359K is at a 23% disc
Slide 19: Global Water to Service 30 sq. Mile Planning Area & 2,700 Acre Industrial Mega-Site
New Service Areas Global Water to Service 30 sq. Mile Planning Area & 2,700 Acre Industrial Mega-Site NASDAQ:GWRS Global Water-Northern • Signed agreements with City of Coolidge and Saint Holdings West Valley Region Scottsdale Water Company to provide water, wastewater, and recycled water service to
Slide 20: Global Water Expands Footprint in Arizona
Acquisitions Global Water Expands Footprint in Arizona NASDAQ:GWRS Acquired 12 Utilities Since 2017 • Eagletail Water • Tortolita Water • Turner Ranches • Lyn-Lee Water • Red Rock Water • Twin Hawks • Red Rock Wastewater • Rincon • Mirabell Water • Las Quintas Serenas • Francesca Water • Farmers Wat
Slide 21: City of Tucson Water Systems Acquisition
Acquisitions City of Tucson Water Systems Acquisition NASDAQ:GWRS • May 7, 2024: Agreed to acquire seven public water systems Catalina from the City of Tucson for $8.4 million in cash. Marana • Acquisition expected to add: • ~2,200 active water service connections. • ~$7.8M in estimated rate base. C
Slide 22: Rate Case Matters & Planning
Utility Rate Increases Rate Case Matters & Planning NASDAQ:GWRS New Rate Case Santa Cruz-Water & Completed Rate Case Palo Verde-Wastewater Saguaro Region (Pima County) Filed general rate case application for our two June 2024: ACC approved a largest utilities on Mar 5, 2025. August 2020: Filed case
Slide 23: 2025 Rate Case - Santa Cruz and Palo Verde
Proposed Utility Rate Increases 2025 Rate Case - Santa Cruz and Palo Verde1 NASDAQ:GWRS Requested net An approximate 11% annual revenue increase in total increase of median monthly approximately aggregate bill for the two utilities’ $6.5 million customers Represents 57,842 active service Proposed tw
Slide 24: We Compare Favorably to Our Peers Across Key Metrics
We Compare Favorably to Our Peers Across Key Metrics NASDAQ:GWRS EBITDA Growth1,2 EBITDA Margin1 Active Connection Growth TTM vs FY 2016 TTM 5-Year Average @12/31/2024 166% 7.1% 102% 89% 68% 62% 54% 55% 56% 55% 61% 61% 49% 46% 46% 39% 44% 39% 2.2% 45% 35% 1.7% 32% 1.5% 1.3% 1.4% 1.2% 0.7% 0.6% 0.3%
Slide 25: Global Water Resources Key Takeaways
Global Water Resources Key Takeaways NASDAQ:GWRS Total Active Connections Growth • Pure-play, high growth water resource management company, focused on conservation. 65,163 • High Connection Growth Rate – 7.0% CAGR in active service connections from 2020 to Q1 2025. • Acquisitions & new service area
Slide 26: Contact Us
Contact Us NASDAQ:GWRS Global Water Resources, Inc. Ron Fleming President & CEO T: 480.999.5290 ron.fleming@gwresources.com Mike Liebman SVP & CFO T: 480.999.5104 mike.liebman@gwresources.com Chris Krygier Chief Operating Officer T: 623.377.2603 christopher.krygier@gwresources.com Investor Relations
Slide 27: Appendix
Appendix 27
Slide 28: Leadership Team
Leadership Team NASDAQ:GWRS Ron L. Mike Chris Joanne Robert J. Fleming Liebman Krygier Ellsworth Kuta President, CEO & CFO & SVP COO EVP of Corporate EVP of Engineering Director Affairs & Environmental Resources 20+ years of related management 23+ years of finance and 15+ years’ experience in operat
Slide 29: Consolidated Balance Sheets
Consolidated Balance Sheets NASDAQ:GWRS Financial information in this and the following slides are presented in thousands (except share and per share amounts). Source: Company’s Form 10-Q for the year ended March 31, 2025 as filed with the SEC. 29
Slide 30: Consolidated Statements of Operations
Consolidated Statements of Operations NASDAQ:GWRS Three Months Ended March 31, 2025 2024 Revenue Water service $ 5,980 $ 5,226 Wastewater and recycled water service 6,477 6,384 Total revenue 12,457 11,610 Operating Expenses Operations and maintenance 3,687 3,284 General and administrative 4,187 4,12
Slide 31: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures NASDAQ:GWRS Twelve Months Ended March 31, Cautionary Statement Regarding Net Income 2025 2024 Non-GAAP Measures $ 5,689 $ 6,207 Net Income Margin 10.6 % 12.1 % Income tax expense 2,006 2,257 This presentation contains certain financial measures t
Slide 32: Financial Highlights
Financial Highlights NASDAQ:GWRS Q1 2025 Financial Results Monthly Dividend Growth • Total active connections: up 4.3% y/y to 65,163 $0.02533 $0.02508 at March 31, 2025. $0.02458 $0.02483 $0.02434 $0.02410 • Total revenues: up 7.3% to $12.5M, primarily $0.02363 $0.02386 due to organic growth, increa
Slide 33: Core Beliefs
Core Beliefs NASDAQ:GWRS Our Operational Foundation is Based on Four Core Beliefs • Water is a scarce commodity that must be conserved and actively managed. • Recycled water is a renewable resource that must be used to the benefit of our customers and environment. • 100% compliance with all regulato
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