Welcome to our dedicated page for Pure Cycle news (Ticker: PCYO), a resource for investors and traders seeking the latest updates and insights on Pure Cycle stock.
Pure Cycle Corporation (NASDAQ: PCYO) is a utilities company active in water and wastewater services, land development, and single-family rentals centered on its Sky Ranch master planned community. The PCYO news feed on Stock Titan aggregates the company’s press releases and third-party coverage so readers can follow its operational and financial updates in one place.
News about Pure Cycle frequently highlights progress at Sky Ranch, including the status of multiple development phases and subphases, lot deliveries to national homebuilder partners, and expansion of its single-family rental portfolio. Earnings releases detail revenue and net income by segment, water and wastewater tap sales, and oil and gas royalty income from mineral interests at Sky Ranch.
Investors and analysts tracking PCYO can use this page to monitor quarterly and annual financial results, earnings presentation announcements, and investor events such as conference appearances and Investor Day presentations. Governance developments, such as changes to the Board of Directors or the formation of board committees, are also announced through company news and associated Form 8-K filings.
Because Pure Cycle’s business spans regulated water and wastewater services, real estate development, and rental housing, its news flow covers topics ranging from utility operations to land development milestones and rental housing expansion. Bookmark this page to follow new press releases, segment performance discussions, and other updates that shape the investment narrative for Pure Cycle Corporation.
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Pure Cycle Corporation (NASDAQ:PCYO) announced its sixteenth consecutive fiscal quarter of positive net income as of April 12, 2023. Notable developments include over 100 new home starts in Phase 2A of the Sky Ranch Master Planned Community and the initiation of construction on 211 lots in Phase 2B. Despite facing headwinds in the housing market due to rising interest rates, the company continues to demonstrate strong demand for affordable homes. For the first half of fiscal 2023, revenues were $4.3 million compared to $8.9 million in the prior year, with net income of $348,000. The company reported cash and investments totaling $22.5 million and expects record revenues from industrial water sales through the fiscal year.
Pure Cycle Corporation (NASDAQ: PCYO) is set to release its financial results for the three and six months ending February 23, 2023, on April 12, 2023. A conference call will follow on April 13, 2023, at 8:30 AM ET to discuss these results. The company continues to diversify its operations through three main segments: wholesale water and wastewater services, land development, and single-family home rentals. This integrated strategy is aimed at driving recurring revenues and strengthening its balance sheet, aligning with their operational goals.
Pure Cycle Corporation (NASDAQ: PCYO) reported positive net income of $0.2 million for Q1 FY2023, marking 15 consecutive quarters of profitability. Despite a revenue decline from $4.3 million in Q1 FY2022 to $1.3 million in Q1 FY2023, largely due to a downturn in the housing market, the company remains optimistic with cash reserves of $32 million and a strong balance sheet. They received $1.2 million in surface use payments from oil and gas operators, suggesting strong future demand. However, water sales decreased by 13%, and land development revenues also fell significantly.
Pure Cycle Corporation (NASDAQ:PCYO) will release its financial results for the three months ended November 30, 2022, on January 9, 2023. An earnings call is scheduled for January 10, 2023, at 8:30 AM ET. The company is diversifying its operations and has three business segments: wholesale water and wastewater services, land development for master-planned communities, and a rental segment for single-family homes at Sky Ranch. This diversification aims to enhance recurring revenues and strengthen their balance sheet.
Pure Cycle reported $9.6 million in net income for the year ending August 31, 2022, marking its fifth consecutive year of profitability. Total revenues reached $23.0 million, a significant increase from $17.1 million in 2021. Key contributions came from land development, water resource development, and single-family rentals. The company delivered a record 404.9 million gallons of water, and the average price per lot increased 40% in Phase 2. Despite challenges in the housing market due to rising interest rates, management remains optimistic about future growth.
Pure Cycle Corporation (NASDAQ:PCYO) plans to release its fiscal 2022 financial results on November 14, 2022. Key highlights include the sale of 219 lots at Sky Ranch, generating $13.7 million, and selling 159 water and 154 wastewater taps for $4.9 million. The company also reported proceeds from oil and gas operations exceeding $3 million and closed the year with over $34 million in liquidity. A transition to FORVIS, LLP as its new auditor is underway. A detailed earnings call will occur on November 15, 2022.
Pure Cycle Corporation (NASDAQ: PCYO) announced the successful closure of a $29.7 million municipal bond financing by the Sky Ranch Community Authority Board, netting $23.6 million after fees and expenses. The funds were used to repay Pure Cycle for public improvement reimbursements. The CAB sold tax-exempt bonds totaling $29.7 million, demonstrating robust demand for the Sky Ranch development, which has a strong credit profile amid a challenging bond market. This success reflects ongoing high demand for entry-level housing in the Sky Ranch community.
Pure Cycle Corporation (PCYO) reported a net income of $0.8 million and $4.0 million for the three and nine months ending May 31, 2022. This marks the thirteenth consecutive quarter of positive net income, with revenues of $3.2 million and $12.1 million. The company is advancing its Sky Ranch Master Planned Community, with Phase 2A nearly 67% complete. Water and wastewater tap sales totaled $1.3 million and $2.5 million, respectively. The company anticipates continued growth amid inflation and rising interest rates, as it focuses on delivering lots on time and within budget.
Pure Cycle Corporation (NASDAQ: PCYO) is set to release its financial results for the three and nine months ended May 31, 2022, on July 11, 2022. Following this, a conference call will be held on July 12, 2022, at 8:30 AM Eastern to discuss the outcomes. Additionally, the company will host its annual Investor Day on July 13, 2022, featuring presentations from senior management about current operations and growth strategies. Pure Cycle continues to diversify its operations, focusing on water services and land development to drive recurring revenues.