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PHOENIX - Global Water Resources Inc. (NASDAQ: GWRS), a water resource management company with a market capitalization of $286 million, announced the election of its board members and the ratification of its independent auditor at its 2025 Annual Meeting of Stockholders. The company, which operates 32 systems providing water, wastewater, and recycled water services around Phoenix and Tucson, confirmed the election of its directors with a majority of the votes cast. According to InvestingPro data, GWRS maintains impressive gross profit margins of 74% and has consistently raised its dividend for 9 consecutive years.
The vote, held on the record date of March 17, 2025, saw 20,221,941 shares voted either in person or by proxy from a total of 24,226,016 eligible shares. The directors elected to the board received between 91.22% and 98.76% of the votes in favor, with Ron L. Fleming receiving the highest approval. Broker non-votes were reported for each nominee.
Additionally, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with 99.79% of the votes in favor. The shareholders also approved, on an advisory basis, the compensation of the company’s named executive officers, with 98.65% votes for.
Global Water Resources is known for its Total Water Management (TWM) approach, which has earned it recognition as a ’Utility of the Future Today’ for its water reuse practices. The company has recycled over 1 billion gallons of water annually, totaling 18.1 billion gallons since 2004. TWM includes advanced technologies like remote metering infrastructure, which supports water conservation and management.
The company’s commitment to sustainable water management practices has also been acknowledged with the Cityworks Excellence in Departmental Practice Award, highlighting its effective public asset management strategies.
This news is based on a press release statement from Global Water Resources.
In other recent news, Global Water Resources Inc. reported its first-quarter 2025 earnings, revealing a mixed performance. The company posted earnings per share (EPS) of $0.02, missing analysts’ forecasts of $0.05. However, Global Water exceeded revenue expectations, reporting $12.46 million against a projected $12 million. Revenue saw a year-over-year increase of 7.3%, reaching $12.5 million, despite a decline in net income to $600,000 from $700,000 the previous year. The company’s adjusted EBITDA rose by 4.4% to $5.6 million compared to the previous year. Global Water also successfully raised $32 million in equity capital in March 2025. Looking ahead, the company is targeting the closure of a Tucson acquisition in the summer of 2025 and has filed rate cases to support future revenue growth. These developments reflect Global Water’s ongoing efforts to expand its operations and enhance its financial performance.
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