Revenue and connection growth remain strong, but near-term earnings pressure from heavy capex and depreciation may persist until new rates are approved in late 2026. Monitor progress of ongoing rate cases, which could unlock ~$4.3 million in annual revenue. Dividend is stable, but earnings decline raises coverage concerns if trends continue.
Price Chart
Executive Summary
Global Water Resources (GWRS) reported full-year 2025 results with revenue up 5.8% to $55.8 million, driven by acquisitions, organic growth, and rate increases. However, net income fell 48.9% to $3.0 million due to higher depreciation, a $1.3 million asset disposal loss, and rising operating costs. Adjusted EBITDA declined slightly to $26.5 million. The company secured a $15 million term loan and declared a $0.02533 monthly dividend.
Key Financial Metrics
Key Facts
- Revenue increased 5.8% YoY to $55.758 million in 2025.
- Net income dropped 48.9% to $3.0 million ($0.11 per share) from $5.8 million ($0.24) in 2024.
- Adjusted EBITDA decreased 0.7% to $26.5 million.
- Adjusted net income fell 38.4% to $3.9 million ($0.14 per share) from $6.3 million ($0.26).
- Company invested $67.3 million in capital projects and completed acquisition of seven Tucson Water systems.
- Declared annualized dividend of $0.30396 per share; $15 million term loan secured at 5.49% fixed rate.
Financial Impact
Revenue grew by $3.1 million, but net income declined by $2.8 million. Adjusted net income down $2.4 million. Capital spending doubled to $67.3 million.
Risk Factors
- Earnings under pressure from high depreciation and prior-year capex; future profitability depends on timely rate recovery.
- Rate case outcome uncertain; hearings begin August 2026 with decision expected late 2026.
- Operating expenses rising faster than revenue (e.g., medical, utilities, chemicals).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3249755 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 5w ago | Insider Cluster | $9.36 $8.29 | ▼ −11.43% | ▼ −12.75% | $8.13 (−13.14%) |
Aug 13, 2026 7w ago | Press Release | $8.89 $8.71 | ▼ −2.02% | ▼ −0.28% | $8.13 (−8.55%) |
Jul 31, 2026 9w ago | Press Release | $7.16 $9.13 | ▲ +27.51% | ▲ +24.53% | $8.13 (+13.55%) |
May 29, 2026 18w ago | Press Release | $7.29 $7.25 | ▼ −0.55% | ▲ +1.25% | $8.13 (+11.52%) |
May 22, 2026 18w ago | Insider Cluster | $7.73 $7.07 | ▼ −8.54% | ▼ −6.59% | $8.13 (+5.17%) |
May 22, 2026 18w ago | Insider Cluster | $7.73 $7.07 | ▼ −8.54% | ▼ −6.59% | $8.13 (+5.17%) |
May 18, 2026 19w ago | Press Release | $6.80 $6.85 | ▲ +0.74% | ▼ −0.25% | $8.13 (+19.56%) |
May 13, 2026 20w ago | 8-K | $6.94 $7.01 | ▲ +1.01% | ▲ +1.87% | $8.13 (+17.23%) |
May 4, 2026 21w ago | 8-K | $7.06 $7.38 | ▲ +4.53% | ▼ −1.11% | $8.13 (+15.16%) |
Apr 30, 2026 22w ago | 8-K | $7.11 $7.40 | ▲ +4.08% | ▼ −0.89% | $8.13 (+14.35%) |
US Market Status
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