Global Water Resources, Inc. (NASDAQ: GWRS) reported its first quarter 2025 results, highlighting a 7.3% increase in total revenue to $12.5 million, driven primarily by organic growth in active water and wastewater connections and increased consumption. However, the company's net income decreased 14.5% to $0.6 million or $0.02 per share compared to the same period last year. Adjusted EBITDA rose 4.4% to $5.6 million. Significant operational updates include a 4.3% increase in total active service connections, reaching 65,163, and a 24.2% rise in water consumption to 0.84 billion gallons. The company invested $15.2 million in infrastructure projects to support existing utilities and accommodate future growth. Additionally, Global Water Resources extended the maturity date of its revolving credit facility to May 18, 2027, and increased the principal amount available for borrowing from $15 million to $20 million. The company also declared three monthly cash dividends of $0.02533 per common share, amounting to an annualized rate of $0.30396 per share. The company is optimistic about maintaining solid revenue growth, supported by appropriate rate increases and ongoing organic growth. In March, Global Water Resources filed general rate case applications for its GW-Santa Cruz and GW-Palo Verde utilities, marking a strategic move to enhance customer services and support growth in Pinal County.
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