PCYO
Pure Cycle Corporation11.72
-0.14-1.18%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q2 '26
Key Stats
Market Cap
282.34MP/E (TTM)
21.70Basic EPS (TTM)
0.54Dividend Yield
0%Recent Filings
8-K
Appoints activist director Roller
Pure Cycle inked a cooperation agreement with 14.7% shareholder Maran Capital on January 14, 2026, expanding its board from seven to eight and appointing Daniel J. Roller as director post-2026 annual meeting. Roller chairs the new Strategy and Capital Allocation Committee, tasked with reviewing capital priorities and assets. Maran pledges standstill support. Activist voice secured.
8-K
Q1 net income up 16%
Pure Cycle reported Q1 fiscal 2026 net income of $4.6 million, up 16% from $3.9 million last year, driven by revenue surging 59% to $9.1 million on $6.5 million land development gains from Sky Ranch Phase 2C/2D deliveries. Water taps hit 51 sold; rentals added five townhomes to 19 units. Steady absorption persists despite housing headwinds. Phase 2D finishes in 2026.
10-Q
Q1 FY2026 results
Pure Cycle crushed Q1 FY2026 with revenue jumping 59% y/y to $9.1M, powered by land development lot sales soaring 160% y/y to $6.0M from Sky Ranch Phase 2C/2D progress (derived). Operating income tripled to $4.4M y/y while diluted EPS held steady at $0.19, matching 24.2M shares. Cash dipped to $17.1M amid $4.7M capex, offset by $1.2M debt draws on $8.0M total (SFR notes/Lost Creek); $5M undrawn LOC available. Sky Ranch CAB note receivable hit $50.6M at 6%. Water court win adds 1,635 acre-feet. Oil and gas royalties plunged 74% y/y to $0.7M.
8-K
Net income up 13%, royalties soar
Pure Cycle reported $13.1 million net income for fiscal 2025 ended August 31, up 13% from 2024 despite 9% revenue drop to $26.1 million, fueled by oil and gas royalties surging 738% to $6.7 million. Sky Ranch Phase 2C lots delivered; Phase 2D finishes in 2026. Cash holds at $21.9 million. Royalties offset housing delays.
10-K
FY2025 results
Pure Cycle delivered FY2025 revenue of $26.1M, down 9% y/y from $28.7M, as lot sales fell 14% to $13.7M amid Phase 2D delays while water/wastewater tap fees surged 117% to $7.3M on 182 taps sold (up 149% y/y) in Phases 2B/2C. Q4 momentum shone through 179 Sky Ranch lot deliveries (97% Phase 2B done, 82% Phase 2C), driving $7.1M tap fees; oil/gas water sales cratered 73% to $1.6M yet $6.7M royalties boosted pre-tax income 12% to $17.4M. Sky Ranch CAB repaid $15.2M on $43.8M note (6% interest); $22M cash funds Phase 2D/2E. Diluted EPS rose 13% to $0.54 on 24.1M shares. Housing slowdowns threaten lot absorption.
IPO
Employees
Sector
Industry
ARIS
Aris Water Solutions, Inc.
23.69+0.00
AWR
American States Water Company
73.73-0.24
CDZI
Cadiz, Inc.
5.43+0.08
CETI
Cyber Enviro-Tech Inc.
0.05-0.02
CWCO
Consolidated Water Co. Ltd.
36.19+0.00
GWRS
Global Water Resources, Inc.
8.52+0.01
PCT
PureCycle Technologies, Inc.
7.84-0.17
PEGRF
PENNON GROUP
7.30+0.85
PNW
Pinnacle West Capital Corporati
87.82-0.55
YORW
The York Water Company
33.75-0.05