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.
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.