earnings
confidence high
sentiment positive
materiality 0.65
Pure Cycle Q1 2022 net income $1.5M, revenue $4.3M, launches single-family rentals
PURE CYCLE CORP
2022-Q1 EPS reported
$0.06
revenue$4,273,000
- Net income $1.5M ($0.06 EPS) vs $0.8M ($0.04 EPS) in Q1 2021.
- Revenue $4.3M, down 12% from $4.9M due to lower tap fees; lot sales up 25% to $2.9M.
- First three single-family rental homes completed, rented within ten days at rates above budget.
- Water deliveries to Sky Ranch increased 42% to 17.3M gallons; second phase lots 43% complete.