secwatch.observer — SEC 8-K summary
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Issuer:     PURE CYCLE CORP (PCYO)
CIK:        0000276720
Form:       8-K
Filed at:   2023-01-10T23:59:59+00:00
Accession:  0001558370-23-000181
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pure Cycle Q1 revenue down 69% YoY to $1.3M; net income falls to $0.2M
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- Revenue $1.3M vs $4.3M YoY; net income $0.2M ($0.01 EPS) vs $1.5M ($0.06 EPS).
- Water deliveries 67.5M gallons (-13% YoY); tap sales 4 for $0.2M vs 9 for $0.3M.
- Land development revenue declined to $0.5M from $3.2M due to housing slowdown.
- Received $1.2M in surface use payments from oil & gas operators; expects strong O&G water sales in FY2023.
- Cash and investments $32.0M; authorized 200k share repurchase but no shares bought yet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/276720/000155837023000181/0001558370-23-000181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/276720/000155837023000181/pcyo-20230109x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-000181

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer