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 (NASDAQ:PCYO) will release its financial results for the three and nine months ended May 31, 2021, on July 6, 2021. A conference call will be held the same day at 4:30 PM Eastern to discuss these results. Participants can join using 877-407-8033 (U.S.) or 201-689-8033 (international). A detailed slide presentation will be available on their website. Established as a diversified water service provider, Pure Cycle also develops master planned communities.
Pure Cycle Corporation (NASDAQ:PCYO) announced an Investor Day on July 15, 2021, from 10:00 am to 2:00 pm MST in Sky Ranch. CEO Mark Harding and CFO Kevin McNeill will present the company's current state, long-term growth strategies, and progress in development. Attendees will have the opportunity to tour Sky Ranch, focusing on Phase 2 of development and the water reclamation facility. Registration is required via the company's investor page.
Pure Cycle Corporation (NASDAQ:PCYO) announced that President and CEO Mark W. Harding will present at the Sidoti & Company Virtual Investor Conference on June 23-24, 2021. The presentation will include a thirty-minute overview of the company, followed by breakout sessions. This conference will host over 100 presenters and 650 investor groups, facilitating numerous interactions. Presentation materials will be available on the company's website post-conference. Pure Cycle is a diversified land and water resource development company focusing on wholesale water and wastewater services.
Pure Cycle Corporation (NASDAQ:PCYO) has launched its newly redesigned website, www.purecyclewater.com, aimed at enhancing user experience. The site offers comprehensive information on the company's water and land development sectors, current projects, financial data, and corporate milestones. President Mark Harding emphasized the website's role in providing timely updates for customers and shareholders. Notably, the announcement clarifies that there is no affiliation with a similarly named company, PureCycle Technologies (NASDAQ:PCT), which can cause confusion among investors.
Pure Cycle Corporation (PCYO) reported strong financial results for the second quarter ended February 28, 2021, with revenues of $4.7 million, a 35% increase year-over-year. The company achieved a net income of $17.4 million, driven by successful land development at Sky Ranch, where 76% of lots have purchased water taps, totaling $11.5 million in fees. The initial development phase is nearly sold out, with the second phase underway. Pure Cycle announced the launch of a build-to-rent segment, aiming to enhance recurring revenues.
Pure Cycle Corporation (NASDAQ:PCYO) will release its financial results for the three and six months ended February 28, 2021, on April 13, 2021. A conference call is scheduled for the same day at 4:30 PM Eastern to discuss these results and address questions from analysts and investors. Participants can access the call via the provided numbers, and a detailed slide presentation will be available on the company’s website. Pure Cycle focuses on wholesale water and wastewater services and land development for master-planned communities.
Pure Cycle Corporation (NASDAQ:PCYO) announced that its President and CEO, Mark W. Harding, will present at the 2021 Lytham Partners Investor Conference on March 30-31, 2021. The presentation will include a 30-minute overview of the company, followed by smaller group breakouts. The presentation materials will be accessible on Pure Cycle's website after the conference. As a leader in water and wastewater services, Pure Cycle is committed to innovative land and resource development.
Pure Cycle Corporation (NASDAQ: PCYO) is entering the Build-to-Rent (BTR) market with initial homes at the Sky Ranch Master Planned Community. The company aims to leverage its land and water assets to boost shareholder returns, predicting $33,000 in annual rental revenue per home. Their construction of three detached homes is underway, expected to be available by fall 2021. Phase two of Sky Ranch development could see over 100 homes built, with construction financed through favorable capital rates. This expansion is anticipated to enhance balance sheets and earnings per share.
Pure Cycle Corporation (NASDAQ:PCYO) will have its President and CEO, Mark W. Harding, present at the Sidoti & Company Virtual Investor Conference on March 24-25, 2021. Harding's presentation will include a comprehensive overview of the company, followed by interactive breakout sessions with smaller groups. This event aims to connect over 100 presenters with 650 investor groups, facilitating valuable interactions. Presentation materials will be accessible on the Pure Cycle website after the conference.
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.
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