Welcome to our dedicated page for Pure Cycle Corporation news (Ticker: PCYO), a resource for investors and traders seeking the latest updates and insights on Pure Cycle Corporation stock.
Pure Cycle Corporation (NASDAQ: PCYO) is a vertically integrated wholesale water and wastewater service provider, operating in two main business segments: Water and Wastewater Resource Development and Land Development. The company designs, constructs, manages, operates, and maintains water and wastewater systems, offering services such as water production, storage, treatment, bulk transmission to retail distribution systems, wastewater collection and treatment, irrigation water treatment and transmission, construction management, billing, and collection.
Established as a key player in its industry, Pure Cycle contracts with landowners, land developers, home builders, cities, and municipalities. The company owns and manages approximately 16,000 acres of irrigated farmland in the Arkansas Valley and about 930 acres of fully entitled master planned community development land along Denver's primary east/west transportation corridor, Interstate 70. The land development segment primarily focuses on developing and selling finished lots, generating maximum revenue for the company.
Pure Cycle's Sky Ranch Master Planned Community is a notable project, where they have delivered 738 finished lots to homebuilders and retained 14 lots for their single-family rental segment. As of the latest update, nearly 600 homes have been built and sold in Sky Ranch, with 90 homes under construction. Pure Cycle also completed and leased 11 additional single-family homes, bringing the total to 14 homes in their rental portfolio.
In the fiscal year ended August 31, 2023, Pure Cycle posted $4.7 million in net income, marking its sixth consecutive year and seventeenth consecutive fiscal quarter with positive net income. Despite challenges such as rising interest rates impacting the housing market, Pure Cycle's Sky Ranch community has shown solid growth, thanks to entry-level homes and its strategic location.
Financially, Pure Cycle reported total revenues of $14.6 million for the year ended August 31, 2023, with significant contributions from both the water and wastewater resource development segment ($7.3 million) and the land development segment ($6.8 million). For the three months ended November 30, 2023, the company recorded a net income of $2.1 million, demonstrating continued fiscal health and operational success.
Pure Cycle continues to see strong demand for its well-priced lots and water availability in the Denver metropolitan region. Looking forward, the company anticipates substantial growth in its water and wastewater service revenues as the Sky Ranch community develops further. With ongoing projects and a robust balance sheet, Pure Cycle is well-positioned to capitalize on market opportunities and deliver strong shareholder returns.
Pure Cycle Corporation (PCYO) reported a net income of $1.5 million on revenues of $4.3 million for the three months ending November 30, 2021. The company is experiencing growth in its land and water segments, with 94% of lots in the initial phase of the Sky Ranch project purchased for $14.2 million in tap fees. Despite a decrease in total revenues compared to Q1 2021, profit margins improved due to increased lot sales and construction progress. The construction of three single-family rental homes was completed and rented quickly, contributing positively to revenue streams.
Pure Cycle Corporation (NASDAQ:PCYO) will release its financial results for the three months ended November 30, 2021, on January 11, 2022. A conference call is scheduled for 8:30 AM Eastern to discuss these results. Investors can access a detailed slide presentation on the company's website. Pure Cycle focuses on water and wastewater services while developing master-planned communities on its properties. This release marks an important update for shareholders and analysts monitoring PCYO's financial health.
DENVER, CO / ACCESSWIRE / November 11, 2021 / Pure Cycle Corporation (NASDAQ:PCYO) will have President and CEO Mark W. Harding present at the Midwest IDEAS Investor Conference on November 17, 2021, at 2:15 PM CT in Dallas, TX. His presentation will cover the company's operations and strategic plans and will be webcast live on the conference site and Pure Cycle's investor relations page. The IDEAS Investor Conferences are designed to showcase investment opportunities to professionals, with over $200 billion in assets managed by the sponsors.
Pure Cycle Corporation (NASDAQ:PCYO) reported a net income of $20.1 million for the fiscal year ending August 31, 2021. Total revenue reached $17.1 million, driven by $5.8 million in lot sales and significant revenues from tap fees ($5.2 million) and project management services ($21.8 million). The company completed the first phase of Sky Ranch, sold 505 lots, and initiated the second phase with contracts for 804 lots. Their single-family rental initiative began with three homes achieving occupancy above projections.
Pure Cycle Corporation (NASDAQ:PCYO) will release its financial results for the year ended August 31, 2021, on November 9, 2021. An earnings call is scheduled for the same day at 4:00 PM Eastern Time. The company will file its Form 10-K on November 10, 2021, prior to market opening. Pure Cycle, a leader in water and wastewater services, will provide a detailed slide presentation on its website, summarizing its financial results. Investors can access a replay of the call until November 23, 2021.
Pure Cycle Corporation (NASDAQ: PCYO) announced its upcoming earnings release for the fiscal year ending August 31, 2021, set for November 9, 2021. An earnings call will follow to discuss financial results. The company will file its Form 10-K before market opens on November 10, 2021. Pure Cycle operates as a diversified land and water resource development entity, providing wholesale water and wastewater services while developing a master-planned community on owned land. For further information, visit purecyclewater.com.
Pure Cycle Corporation (NASDAQ:PCYO) has completed the sale of 152 platted lots in the Sky Ranch community, marking the first closing in the project's second development phase. This phase consists of 804 lots, all contracted with homebuilders, with future closings contingent on the completion of utilities and lot readiness. The first milestone payments of $3.6 million have been received, with subsequent payments expected soon. The company anticipates further development to meet housing demands in the growing area, with model home lots expected to be ready by year-end.
Pure Cycle Corporation (NASDAQ:PCYO) will participate in the virtual Midwest IDEAS Investor Conference on August 25-26, 2021. President and CEO Mark W. Harding will present the company's operations and strategic plans, highlighting growth at Sky Ranch and regional water service expansions. The event aims to connect quality companies with investment professionals and offers an opportunity for Pure Cycle to discuss its new Build-to-Rent segment. Further details are available on the conference and Pure Cycle's websites.
Pure Cycle Corporation (NASDAQ:PCYO) reported net income exceeding $18.0 million for the nine months ended May 31, 2021, from $12.3 million in revenue and over $20.0 million in Other Income. The Sky Ranch development is nearly sold out, with 446 lots sold, generating $13.3 million in tap fees. The company expects to deliver lots for model homes by late 2021, despite COVID-related delays. Current working capital stands at $16.5 million with cash reserves of $19.8 million.
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