LOS ANGELES - Cadiz Inc. (NASDAQ: NASDAQ:CDZI), a company specializing in water solutions, announced the immediate appointment of Barbara Lloyd to its Board of Directors. Lloyd, a seasoned professional with over three decades of experience in public finance and infrastructure, will also serve on the Audit & Risk and Compensation committees.
Lloyd's extensive background includes roles at KPMG, where she was a Managing Director, and the California State Treasurers Office as Chief Deputy Treasurer. She has been instrumental in executing large-scale bond transactions and has a history of advising on complex infrastructure projects, such as the California High-Speed Rail.
Susan Kennedy, Chairman and CEO of Cadiz, expressed confidence in Lloyd's appointment, citing the company's pioneering efforts to repurpose natural gas pipelines for water conveyance. Lloyd's expertise is expected to be a significant asset to Cadiz as it embarks on the development phase of its water infrastructure projects.
Lloyd shared her enthusiasm for joining Cadiz, emphasizing the importance of innovative financing strategies in addressing climate change impacts on California's infrastructure and water accessibility.
The appointment marks a milestone for Cadiz, achieving a majority of women directors on its board for the first time. The company, founded in 1983, has positioned itself as a provider of clean, reliable, and affordable water solutions in California, with considerable land holdings, water supply, pipeline assets, and water treatment technology.
This news is based on a press release statement from Cadiz, Inc.
InvestingPro Insights
As Cadiz Inc. (NASDAQ: CDZI) welcomes Barbara Lloyd to its Board of Directors, the company's financial and operational data reflect significant aspects of its performance and market position. According to InvestingPro data, Cadiz Inc. has a market capitalization of approximately $192.79 million, indicating its size within the water solutions industry. Despite the company's efforts to innovate in water conveyance, it operates with a negative gross profit margin of -26.85% for the last twelve months as of Q1 2023, pointing to challenges in cost management relative to revenues.
InvestingPro Tips highlight that while analysts predict sales growth in the current year, they do not foresee the company turning a profit this year. This aligns with the company's recent performance, as it has not been profitable over the last twelve months. Additionally, Cadiz Inc. is described as a niche player in its industry, which may influence its strategic decisions and market reach. On a positive note, the company's liquid assets surpass its short-term obligations, suggesting a degree of financial stability in meeting immediate liabilities.
Investors interested in a deeper dive into Cadiz Inc.'s financial health and market position can explore more InvestingPro Tips, which provide a comprehensive analysis of the company's performance metrics. Currently, there are several additional tips available on the InvestingPro platform. To gain access to these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While the appointment of Lloyd to the board is a strategic move for Cadiz's governance and expertise, the company's financial data and analyst expectations will continue to play a critical role in shaping its future in the competitive water solutions market.
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