Global Water Resources, Inc. (NASDAQ:GWRS) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 01:00 pm ET


Global Water Resources, Inc. (NASDAQ:GWRS) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings, ladies and gentlemen. Thank you for standing by. Welcome to the Global Water Resources, Inc. 2020 First Quarter Conference Call. [Operator Instructions] Following the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time for you to queue up for questions. [Operator Instructions]

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

Heather Krupa

Welcome, everyone, and thank you for joining us on today's call. Yesterday, we issued our 2020 first quarter financial results by press release, a copy of which is available on our website at

Speaking today is Ron Fleming, 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 quarter. Mr. Fleming and Mr. Liebman will be available for questions at the end of the call.

Before we begin, I would like to remind you that certain information presented today may include forward-looking statements. Such statements reflect the company's current expectations, estimates, projections and assumptions regarding future events. These forward-looking statements involve a number of 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 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 and latest Form 10-Q filed with the SEC. Such filings are available at

Certain non-GAAP measures may be 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 the results for first quarter 2020. First and foremost, I always begin by discussing our top priority, which is the health and safety of our employees and our customers. Considering the COVID-19 pandemic we are currently navigating, it is appropriate to start here once again.

In short, as an essential utility whose services are vital during a health pandemic, our company moved quickly and early to implement all national, local and industry-specific guidance to maximize social distancing and other measures to protect the health and safety of our employees and customers and safeguard our operations. These proactive measures have gone well, and we have not incurred any significant disruptions in the first quarter resulting from the pandemic, either operationally or financially.

However, at this point, we cannot predict