Pure Cycle Q1 net income $4.6M ($0.19 EPS), up 16% YoY; revenue up 59% on lot sales

PURE CYCLE CORP

2026-Q1 EPS reported $0.19 revenue$9,135,000

Net income $4.6M ($0.19 diluted EPS), up 16% YoY; revenue $9.1M, up 59%.
Land development lot sales revenue surged to $6.0M from $2.3M; Phase 2D 65% complete.
Added Pulte and Oakwood as homebuilder partners; charter school construction begins fall 2026.
Water deliveries fell to 147 acre-ft (from 301) due to lower oil & gas activity; taps sold increased to 51.
Cash & equivalents $17.1M; working capital $14.8M; 26th consecutive quarterly profit.

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