Global Water Resources, Inc. delivered solid third-quarter results with a 6.6% increase in total active service connections, bolstered by strategic acquisitions and favorable legislative changes that enhance long-term growth prospects.
- Completed the acquisition of seven Tucson water systems, adding approximately 2,200 connections and a rate base of $7.7 million.
- New Arizona water legislation expected to enhance growth prospects by improving groundwater supply.
- Active service connections reached 68,130, with a 3.3% annual growth rate excluding recent acquisitions.
- Year-to-date capital investments totaled $49.6 million, focused on infrastructure improvements for existing utilities.
- Anticipating a fair outcome in the ongoing rate case, with new rates needed to address rising costs and support earnings growth.
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