Pure Cycle Corp Stock Price, News & Analysis

Pure Cycle Corporation (NASDAQ:PCYO) has announced the approval of Sky Ranch Academy, a new charter school in the Sky Ranch Master Planned Community. In collaboration with the Bennett School District, this K-12 school aims to enhance educational opportunities within the area. The school will be operated by National Heritage Academy, benefiting from over 25 years of educational experience. Sky Ranch is part of a rapidly growing community, set to include 900 new homes and substantial commercial spaces. Pure Cycle emphasizes the importance of high-quality education in fostering community success.

Pure Cycle Corporation (NASDAQ:PCYO) has entered a new agreement with Lennar Homes to develop 218 detached homes and townhomes in the second phase of the Sky Ranch project. This follows the termination of the previous contract with Meritage Homes, who will not participate in this phase. The construction schedule remains unchanged, with all necessary permits acquired. Pure Cycle is excited to include Lennar, one of the top builders in the nation. Additionally, the company announced its official Twitter account to enhance public information dissemination.

Pure Cycle Corporation (NASDAQ:PCYO) held its annual shareholders' meeting on January 13, 2021, where new directors Frederick Fendel and Daniel Kozlowski were elected to fill vacancies left by retiring board members Harry Augur and Richard Guido. Fendel brings 18 years of water law experience, while Kozlowski has extensive finance and investment management expertise. Approximately 90.65% of entitled shareholders voted, ratifying the auditor for fiscal 2021 and passing an advisory vote on executive compensation. CEO Mark Harding expressed optimism about continued growth and development projects.

Pure Cycle reported a net income of $0.8 million on revenues of $4.9 million for Q1 2021. The company completed its initial development phase at Sky Ranch ahead of schedule, with 66% of lots purchased for a total of $9.9 million in tap fees. The next phase, featuring 895 lots, is set to break ground in January 2021, expected to increase lot prices by 30%. Despite a drop in lot sale revenue, efficiencies in operational expenses allowed them to remain profitable. Investments in water rights reached $55.2 million as of November 30, 2020, supporting future growth.

Pure Cycle Corporation (NASDAQ:PCYO) is set to release its financial results for the three months ending November 30, 2020, on January 5, 2021. A conference call will be hosted on the same day at 4 PM Eastern to discuss these results. Participants can access the call at 877-407-8033 for domestic and 201-689-8033 for international callers. A detailed slide presentation summarizing the financial results will be available on their website. Pure Cycle is a land and water resource development company, focusing on wholesale water and wastewater services.

Pure Cycle reported a net income of $6.8 million for fiscal 2020, up from $4.8 million in fiscal 2019. Revenues reached $25.9 million, marking a 27% increase. Cash and investments surged by 126%, totaling $21.8 million, while the company remains debt-free. Notably, the initial phases at Sky Ranch generated $35.1 million in lot sale proceeds. The company anticipates further growth with new contracts signed for additional phases, expecting lot prices to rise significantly. Investments in water resources grew 9.6% to $55.1 million.

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.