Pure Cycle reports FY2022 net income of $9.6M, down from $20.1M YoY; revenue up 34% to $23M

PURE CYCLE CORP

Net income of $9.6M ($0.40 diluted EPS) vs $20.1M ($0.83) in fiscal 2021; revenue $23.0M (up 34% from $17.1M).
Record water deliveries of 404.9M gallons, up 57% YoY, driven by oil & gas and Sky Ranch growth.
Board authorized stock repurchase of up to 200,000 shares in open market; no shares repurchased yet.
Single-family rental: 3 homes rented, 11 under construction; fourth unit expected Q1 fiscal 2023.
All 229 lots delivered in Phase 2A of Sky Ranch; lot prices up ~40% vs Phase 1.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PURE CYCLE CORP reported the year ended August 31, 2022 results: revenue $23.0 million, net income $9.6 million, EPS $0.40.

Period: the year ended August 31, 2022
Revenue: $23.0 million
Net income: $9.6 million
EPS: $0.40
Result: reported results

Exact text from the filing

made at Sky Ranch, with the continued expansion of our water resource business and the successful launch of our home rental business.” Fiscal 2022 Highlights Ø Revenues of $23.0 million which drove p re-tax income of $12.7 million Ø EBITDA of $14.9 million o Reconciliation of net income to EBITDA is as follows: net income of $9.6M plus interest expense of $0.1M

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PURE CYCLE CORP filing history →

Source: SEC EDGAR

accession 0001558370-22-018008

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