EarningsQ2 2026 Earnings Report
MX:GWRS Q2 2026 EPS Results
Actual EPS$0.75
Consensus EPS$0.56
Beat/MissBeat by +$0.19
One Year Ago EPS$1.11
MX:GWRS Q2 2026 Revenue Results
Actual Revenue$333.78M
Expected Revenue$280.43M
Beat/MissBeat by +$53.35M
YoY Revenue Growth+24.76%
Earnings Announcement Details
QuarterQ2 2026
Date08/13/2026
TimeBefore Open
Conference CallThursday, August 13, 2026
MX:GWRS Upcoming Earnings
Global Water Resources's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GWRS Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial positives — double-digit revenue growth (Q2 +24.8%), higher adjusted EBITDA (+15% Q2), meaningful net income improvement, connection growth, ICFA-driven revenue recognition, and progress on rate cases that should enable recovery of investments. These positives are tempered by rising operating costs (O&M, medical, power), increased depreciation from the 2025 capital program, and higher interest expense, as well as some near-term permit softness. Management emphasized cost control in G&A, regulatory progress (GW-Santa Cruz settlement approximating $1.9M of additional revenue), and confidence in accelerating regional development, suggesting the company expects these headwinds to be addressed through upcoming rate recoveries and organic growth.Company Guidance
Strong Top-Line Revenue Growth
Total revenue for Q2 2026 was $17.8M, up $3.5M or 24.8% year-over-year. Year-to-date revenue rose to $31.1M, an increase of $4.4M or 16.3% compared to the prior year period.
Regulated Revenue and EBITDA Expansion
Regulated revenue for Q2 was $15.7M, up $1.4M or 9.9% year-over-year; YTD regulated revenue increased 8.4% to $28.9M. Adjusted EBITDA for Q2 was $7.9M, up $1.0M or 15% versus Q2 2025; YTD adjusted EBITDA rose 8% to $13.5M.
Net Income Improvement
Net income for Q2 2026 was $2.7M ($0.10 diluted) compared to $1.6M ($0.06) in Q2 2025, a sizeable increase (~68.8% in dollars). Year-to-date net income was $2.4M ($0.08) versus $2.2M ($0.08) in the prior year period.
Connection Growth and Organic Trends
Total active service connections increased 5.8% to 69.4k as of 6/30/2026 versus the prior 12 months. Excluding the July 2025 acquisition, the company achieved a 2.6% annualized connection growth rate and reported a recent 3.2% organic growth rate over the last three months.
Infrastructure Investment Delivering Revenue (ICFA)
The company invested $6.6M in Q2 2026 into infrastructure improvements. Recognition of $2.1M of unregulated revenue related to infrastructure coordination and financing agreements (ICFAs) occurred after GW-Hassayampa brought its first wastewater plant into service.
Progress on Rate Cases with Expected Near-Term Recovery
GW-Santa Cruz settlement contemplates approximately $1.9M of net increased revenues (effective November), providing a clearer path to meaningful rate recovery. GW-Palo Verde and multiple other utilities have rate filings planned that target new rates in 2028–2029, supporting future earnings recovery.
Cost Control in G&A and Operational Resilience
G&A costs were largely controlled and remained essentially flat in Q2 (approximately $4.3M vs $4.4M prior year). The company reported it was not impacted by recent national cyber attacks on water/wastewater infrastructure.
Positive Regional Growth Drivers
Management highlighted accelerating economic development in the Phoenix MSA (major projects and transportation improvements) and strong affordability in core service areas, which management expects will support continued connection and revenue growth over the next 2–3 years.
MX:GWRS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed