Pure Cycle Q2 net income $118K; revenue $3.2M; record water deliveries YTD

PURE CYCLE CORP

2024-Q2 EPS reported $0.09 revenue$8,583,000

Q2 net income $118K ($0.00 diluted EPS) vs $189K; six-month net income $2.2M ($0.09 EPS) vs $348K.
Revenue $3.2M in Q2 (+7% YoY); six-month revenue $8.6M (+98% YoY) on strong oil/gas water sales.
Water deliveries: 404 acre-ft in Q2 (vs 33), YTD record 1,028 acre-ft (vs 242); 25% water/wastewater rev growth.
Sky Ranch: Phase 2A 96% complete, Phase 2B 52% complete (on track for FY2024); 14 rental homes occupied, 17 more planned.
Cash $20.4M; working capital $19.9M; cumulative 723 water/wastewater taps sold at Sky Ranch.

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 0.9

PURE CYCLE CORP reported three and six months ended February 29, 2024 results: revenue $3.2 million and $8.6 million, net income $0.1 million and $2.2 million, EPS $ — and $ 0.09.

Period: three and six months ended February 29, 2024
Revenue: $3.2 million and $8.6 million
Net income: $0.1 million and $2.2 million
EPS: $ — and $ 0.09
Result: reported results

Exact text from the filing

compared to 2023, due to an increase in water sales to oil and gas customers. Q2 and YTD 2024 Highlights Ø Revenues for the three and six months ended February 29, 2024 of $3.2 million and $8.6 million, which drove p re-tax income of $0.2 million and $3.0 million; Ø Net income for the three and six months ended February 29, 2024 of $0.1 million and $2.2

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Source: SEC EDGAR

accession 0001558370-24-004948

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