PURE CYCLE CORP reported results for 2026 with revenue of $8.22M and diluted EPS of $0.12, driven by stronger land development activity and higher water sales versus the prior-year quarter.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$8.22M$5.14M60% | Net income²$2.95M$2.26M30.7% | Diluted EPS³$0.12$0.0933.3% |
¹ Reported as “Total revenues”. ² Reported as “Net income”. ³ Reported as “Earnings per common share - basic and diluted”.
Business Highlights
- Revenue growth: Total revenue rose 51% year-to-date, led by land development (lot sales up 78%) and increased water sales to oil & gas customers.
- Channel shift: Commercial water exports and O&G sales drove water deliveries up 137% YTD, shifting the mix toward commercial customers.
- Sky Ranch development: Phases 2A/2B are mostly complete; Phases 2C–2E are active with 591 lots remaining.
- Operational milestones: Recognized significant percentage-of-completion lot revenue; received $37.6M in tap fees with approximately $14.8M expected in near-term payments.
- Single-family rentals: SFR portfolio expanded to 39 homes (38 rented); 71 lots reserved for rentals with contracted construction underway.
Original SEC Filing:
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