Pure Cycle Q1 net income $2.1M, revenue $5.4M, up 315% YoY; 18th consecutive profitable quarter

PURE CYCLE CORP

2024-Q1 EPS reported $0.09 revenue$5,386,000

Net income $2.1M ($0.09 EPS) vs $159K ($0.01) prior year; EBITDA $3.4M.
Revenue $5.4M (up 315% YoY) driven by 270% lot sale increase and 300%+ water/wastewater revenue increase.
Delivered 623 acre-feet of water vs 207 prior year, driven by oil & gas water sales.
Sold 15 water/wastewater taps for $0.6M; Phase 2 tap revenue expected to exceed $20M over 3-5 years.
Cash $21.8M; working capital $20.4M; 14 rental homes occupied, 17 more planned.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PURE CYCLE CORP reported the three months ended November 30, 2023 results: revenue $5.4 million, net income $2.1 million, EPS $0.09.

Period: the three months ended November 30, 2023
Revenue: $5.4 million
Net income: $2.1 million
EPS: $0.09
Result: reported results

Exact text from the filing

water and wastewater revenue for the three months ended November 30, 2023, compared to 2022, due to an increase in oil and gas water sales. Q1 2024 Highlights Ø Revenues of $5.4 million, which drove p re-tax income of $2.8 million; Ø Net income of $2.1 million; Ø EBITDA of $3.4 million (see table below for re conciliation of net income to EBITDA); Ø Cash totaled

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

PURE CYCLE CORP filing history →

Source: SEC EDGAR

accession 0001558370-24-000302

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