Pure Cycle Corporation operates as a vertically integrated water and wastewater service provider with related land development and single-family rental businesses. Company updates commonly cover its wholesale water and wastewater systems, the Sky Ranch master planned community, finished-lot deliveries to national homebuilders, and rental homes located at Sky Ranch.
Recurring Pure Cycle news also includes operating and financial results, earnings presentation schedules, regional water system expansion, oil and gas mineral-interest royalty activity, and governance developments such as board composition, shareholder agreements, and capital allocation oversight.
Pure Cycle Corporation (NASDAQ:PCYO) has successfully completed the sale of the last finished lots from its initial filing at Sky Ranch, receiving $1.6 million in proceeds, contributing to a total of $36.7 million from 506 lots sold. Additionally, the company has earned $9.6 million from 329 water and wastewater tap sales and expects an additional $5.2 million from 177 remaining lots by the end of 2021. The development is on-time and on-budget, with home builders selling an average of 27 homes per month. Pure Cycle plans to launch nearly 900 lots in the second filing at Sky Ranch.
Pure Cycle Corporation (NASDAQ:PCYO) has entered agreements to sell residential lots in the second phase of its Sky Ranch Master Planned Community, located in metro Denver. The second phase involves nearly 900 homes, with contracts for 789 lots valued at $63.4 million. The company has successfully increased lot prices by approximately 40% compared to the first phase. Development costs are estimated at $65.6 million, with $48.0 million eligible for reimbursement. Construction is expected to commence by the end of 2020, with model home lots ready by late 2021.
Pure Cycle Corporation (PCYO) will release its financial results for the year ending August 31, 2020, on November 10, 2020. This includes filing its Form 10-K and holding an earnings call at 4:00 PM ET on the same day. The earnings release will summarize the company's performance over the three and twelve months ending August 31. A detailed slide presentation will be available on their website, offering insights into financial outcomes. Investors can access additional details from the company's website or contact its management team directly.