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) 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.
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.
FAQ
What is the current stock price of Pure Cycle Corporation (PCYO)?
What is the market cap of Pure Cycle Corporation (PCYO)?
What services does Pure Cycle Corporation provide?
What are Pure Cycle's main business segments?
Where is the Sky Ranch Master Planned Community located?
What is Pure Cycle's financial status?
What recent achievements has Pure Cycle reported?
How has Pure Cycle performed in the fiscal year 2023?
What are Pure Cycle's future growth prospects?
What challenges has Pure Cycle faced recently?
How can investors stay informed about Pure Cycle's updates?
What makes Sky Ranch attractive to homebuyers?
