Global Water Resources earnings date
Global Water Resources (GWRS) Q3 2026 Earnings Report
MX:GWRS Q3 2026 EPS Results
- Actual EPS
- MXN 0.56
- Consensus EPS
- MXN 0.80
- Beat/Miss
- Missed by -MXN 0.24
- One Year Ago EPS
- MXN 1.30
MX:GWRS Q3 2026 Revenue Results
- Actual Revenue
- MXN 303.20M
- Expected Revenue
- MXN 297.60M
- Beat/Miss
- Beat by +MXN 5.60M
- YoY Revenue Growth
- +5.04%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/03/2026
- Time
- After Close
- Conference Call
- Tuesday, November 3, 2026
Global Water Resources's next earnings date is estimated for March 11, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was constructive and forward-looking, supported by the unanimous Santa Cruz rate approval, a net anticipated annual revenue increase of $1.9 million, 2.4% growth in active connections, year-to-date revenue growth of 12.2%, 5% year-to-date adjusted EBITDA growth and increased liquidity. However, current earnings declined, operating and depreciation expenses increased, housing and permit activity slowed, and the Palo Verde rate case remains delayed until rates are expected in 2028. Overall, the positive regulatory, operational and regional growth developments outweighed the current-period financial pressures.
Global Water Resources said new GW-Santa Cruz rates are effective December 1, 2026, with anticipated new annual revenue of $2.3 million, offset by a $0.4 million rate reduction related to Global Water Palo Verde for a net overall increase of $1.9 million; the company’s 4 rate review filings planned for the first half of 2027 for Global Water Palo Verde, Farmers, Ocotillo and Saguaro District will use a 2026 test year with a 2027 post test year, implying estimated new rates in 2028, and the Palo Verde Southwest Plant wastewater asset rate recovery is its highest priority over the next 18 to 24 months. The company said it is working to keep G&A costs as flat as possible until new rates become effective, believes it can maintain solid revenue and earnings growth, and described its historical organic growth rates as 5% to 7%.
- Santa Cruz Rate Review ApprovedCommissioners unanimously approved the Administrative Law Judge's Recommended Opinion and Order for Global Water Santa Cruz. New rates become effective December 1, 2026, with anticipated new annual revenue of $2.3 million, partially offset by a $0.4 million rate reduction related to Global Water Palo Verde, for a net overall increase of $1.9 million.
- Santa Cruz Rate Base and Southwest Plant ResolutionThe Global Water Santa Cruz order materially resolved the history of the Southwest Plant water assets and establishes a rate base that is 50% higher than the last approved rate decision.
- Planned 2027 Rate FilingsThe company plans to file four rate reviews in the first half of 2027 for Global Water Palo Verde, Farmers, Ocotillo and Saguaro District. The applications contemplate a 2026 test year and a 2027 post-test year, implying estimated new rates in 2028.
- Regulatory-Lag Reduction StrategyManagement is evaluating formula rates for the Pima County utilities that could allow annual rate true-ups, as well as other Arizona tools for Palo Verde. The objective is to include capital expenditures in rates faster and reflect increased operating expenses more quickly.
- Active Service Connections IncreasedTotal active service connections increased 2.4% year-over-year to 69,797 at the end of the quarter.
- Infrastructure Investment ContinuedThe company invested $6.9 million in infrastructure improvements in existing utilities during the third quarter of 2026 to provide safe and reliable service.
- Quarterly and Year-to-Date Revenue GrowthThird-quarter revenue was $16.3 million, up $0.8 million or 5% compared with Q3 2025. Year-to-date revenue increased $5.1 million or 12.2% to $47.4 million, driven in the quarter by increased connections, increased consumption and higher rates at GW-Farmers and GW-Ocotillo.
- ICFA and Tucson Water ContributionsYear-to-date revenue included $2.1 million of unregulated revenue related to infrastructure coordination and financing agreements, along with six additional months of revenue from the seven water systems acquired from Tucson Water in July 2025. GW-Hassayampa's first wastewater plant entering service during the second quarter allowed the company to recognize deferred revenue after meeting its contractual ICFA obligations.
- Adjusted EBITDA GrowthYear-to-date adjusted EBITDA increased $1 million or 5% to $21.4 million from $20.4 million in the prior-year period, primarily due to higher regulated revenue, partially offset by increased operations and maintenance expense. Third-quarter adjusted EBITDA remained largely consistent at $7.8 million.
- General and Administrative Cost ControlG&A costs decreased modestly to $4.8 million in Q3 2026 from $4.9 million in Q3 2025, while year-to-date G&A costs remained flat at $13.5 million. Management said keeping G&A costs as flat as possible is a top priority until new rates become effective.
- Liquidity IncreasedThe company added $20 million of liquidity during the quarter through a $10 million private placement of common stock and a $10 million increase in its line of credit. The line of credit increased from $20 million to $30 million of availability and was unused at quarter-end.
- Phoenix Metro Growth OpportunitiesManagement cited continued population and job growth, semiconductor-related investment including TSMC and Intel activity, improving transportation such as State Route 347 widening, affordability and large Assured Water Supply as long-term growth drivers. Multifamily occupancy rates have been increasing across Metro Phoenix, and the company continues to see revenue growth from multifamily activity in Maricopa.
- Maricopa Permit Activity Improved in OctoberAlthough Maricopa building permits for the nine months ended September 30, 2026 were down 2.1% from the same period in 2025, October permits put the market nearly 2% ahead of 2025.
- Total Water Management ExpansionManagement reiterated its intention to expand the Total Water Management platform, apply its expertise across regional service areas and new utilities, and address utility, water resource and economic development matters along the Arizona Sun corridor.
MX:GWRS Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 11, 2027 | 2026 (Q4) | -0.06- | -0.3 | ― | ― |
| Nov 03, 2026 | 2026 (Q3) | 0.800.56 | 1.3 | -57.14% (-0.74) | |
| Aug 13, 2026 | 2026 (Q2) | 0.560.74 | 1.1 | -32.20% (-0.35) | |
| May 13, 2026 | 2026 (Q1) | 0.00-0.19 | 0.5 | -137.04% (-0.69) | |
| Mar 04, 2026 | 2025 (Q4) | 0.56-0.30 | 0.74 | -140.00% (-1.04) | |
| Nov 12, 2025 | 2025 (Q3) | 1.671.30 | 2.23 | -41.67% (-0.93) | |
| Aug 13, 2025 | 2025 (Q2) | 1.121.10 | 1.3 | -15.71% (-0.20) | |
| May 14, 2025 | 2025 (Q1) | 0.280.50 | 0.56 | -10.00% (-0.06) | |
| Mar 05, 2025 | 2024 (Q4) | 1.120.74 | 1.3 | -42.86% (-0.56) | |
| Nov 06, 2024 | 2024 (Q3) | 2.052.23 | 2.05 | 9.09% (+0.19) |
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.
