---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-011895"
form_type: "8-K"
ticker: "PCYO"
cik: "0000276720"
company_name: "PURE CYCLE CORP"
filed_at: "2023-07-14T23:59:59+00:00"
generated_at: "2026-06-13T08:28:39.813580+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Pure Cycle Q3 net income $3.3M ($0.14 EPS) vs $0.84M; revenue $6.9M doubles YoY

## Summary
- Revenue $6.9M for Q3 (vs $3.2M) on record oil & gas water sales and Sky Ranch Phase 2A/2B lot sales.
- Net income $3.3M ($0.14 diluted EPS) vs $0.84M ($0.03); 17th consecutive profitable quarter.
- Phase 2 lot prices up 40% vs Phase 1; nearly 200 homes started in Phase 2A, 211 lots in Phase 2B begun.
- Single-family rental: 4 homes rented in Phase 1, 10 under construction in Phase 2A (6 completed after quarter end).
- Cash $26.0M; acquired three deep water wells in Lost Creek Basin for $0.3M.

## SEC filing metadata
- accession: 0001558370-23-011895
- form_type: 8-K
- ticker: PCYO
- cik: 0000276720
- company_name: PURE CYCLE CORP
- filed_at: 2023-07-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/276720/000155837023011895/0001558370-23-011895-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/276720/000155837023011895/pcyo-20230712x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-011895
- JSON: https://secwatch.observer/filing/0001558370-23-011895.json
- Plain text: https://secwatch.observer/filing/0001558370-23-011895.txt

## Key facts
- Earnings Releases
  PURE CYCLE CORP reported nine months ended May 31, 2023 results: revenue $11.2 million, net income $3.6 million, EPS $0.15.
  - Period: nine months ended May 31, 2023
  - Revenue: $11.2 million
  - Net income: $3.6 million
  - EPS: $0.15
  - Result: reported results
  source text: For the nine months ended May 31, 2023, we posted revenues of $11.2 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/276720/000155837023011895/0001558370-23-011895-index.htm
- Earnings Releases
  PURE CYCLE CORP reported three months ended May 31, 2023 results: revenue $6.9 million, net income $3.3 million, EPS $0.14.
  - Period: three months ended May 31, 2023
  - Revenue: $6.9 million
  - Net income: $3.3 million
  - EPS: $0.14
  - Result: reported results
  source text: For the three months ended May 31, 2023, we posted $6.9 million of revenue
  evidence_url: https://www.sec.gov/Archives/edgar/data/276720/000155837023011895/0001558370-23-011895-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.