Global Water Resources, Inc. (NASDAQ:GWRS) Q4 2018 Earnings Conference Call Transcript

Mar 07, 2019 • 01:00 pm ET


Global Water Resources, Inc. (NASDAQ:GWRS) Q4 2018 Earnings Conference Call Transcript


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Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Global Water Resources, Inc. Fourth Quarter and Full Year 2018 Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct the question-and-answer session. (Operator Instructions) I would like to remind everyone that this call is being recorded on March 7, 2019, at 1:00 p.m. Eastern Time.

I would now like to turn the conference over to Heather Krupa, Controller. Please go ahead.

Heather Krupa

Good morning, everyone, and thank you for joining us on today's call. Yesterday we issued our 2018 year-end financial results by press release, a copy of which is available on our website at Speaking today is Ron Fleming, Chairman, President and Chief Executive Officer; and Mike Liebman, Chief Financial Officer. Mr. Fleming will summarize the key events of the quarter, following which Mr. Liebman will review the financial results for the year ended December 31, 2018. Mr. Fleming and Mr. Liebman will be available for questions at the end of the call.

Before we begin, I'd like to remind you that information presented today may include forward-looking statements. These forward-looking statements involve assumptions, risks, uncertainties, estimates and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management's views as of the date hereof and are not guarantees of future performance. For additional information regarding the factors that may affect future results, please read the sections Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations, included within our latest Form 10-K filed with the SEC. Such filings are available at

Certain non-GAAP measures maybe included within today's call. For a reconciliation of these measures to the comparable GAAP financial measures, please see the tables included in yesterday's earnings release, which is available on our website. Unless otherwise stated, all amounts discussed are in US dollars.

I will now turn the call over to Mr. Ron Fleming.

Ron L. Fleming

Thank you, Heather. Good morning, everyone, and thank you for joining us today. We are very pleased to report our fourth quarter and full year 2018 results. 2018 was an exciting year for Global Water with the Company achieving successful results throughout our business, including with compliance and safety, organic growth and acquisitions and completion of many significant improvement projects within the communities we serve. First and foremost, our employees successfully completed the year with no recordable safety events -- incidents and no environmental compliance violations. We have now achieved over 564 consecutive days without a recordable safety accident and over 1,061 days without an environmental compliance violation. These remarkable achievement show the dedication and care of our employees as we provide exceptional performance and the delivery of safe and reliable utility service. Additionally, Global Water was named finalist in 2018 Environmental Excellence Awards by Arizona Forward for our effective implementation of Total