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Pure Cycle(PCYO) - 2024 Q4 - Annual Results
2024-11-14 16:47
Exhibit 99.1 Year Ended Earnings per common share - basic and diluted Basic $ 0.48 $ 0.20 Diluted $ 0.48 $ 0.19 Weighted average common shares outstanding: Basic 24,083,001 24,031,068 Diluted 24,140,946 24,106,067 @ PURE CYCLE Pure Cycle Announces Financial Results For the Year Ended August 31, 2024 DENVER, CO / ACCESSWIRE / November 13, 2024 – Pure Cycle Corporation (NASDAQ Capital Market: PCYO) announced its financial results for the year ended August 31, 2024. Pure Cycle reported $11.6 million of net inc ...
Pure Cycle(PCYO) - 2024 Q4 - Earnings Call Presentation
2024-11-14 12:50
PURE CYCLE CORPORATION Earnings Presentation F i s c a l Y e a r E n d 2 0 2 4 P r e s e n t e d b y M a r k H a r d i n g www.purecyclewater.com Forward-Looking Statements Statements that are not historical facts contained or incorporated by reference in this presentation are "forward-looking statements" ("FLS") within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934 as amended. FLS involve ...
Pure Cycle(PCYO) - 2024 Q4 - Annual Report
2024-11-13 22:01
Development and Infrastructure - The company has developed 1,395 finished lots and constructed water and wastewater systems with the capacity to serve approximately 2,500 residential equivalent units[15]. - The Sky Ranch development is zoned for up to 3,200 single-family and multifamily homes, along with over two million square feet of retail, commercial, and light industrial space[11]. - The company is actively involved in land development, having acquired approximately 930 acres of land along the I-70 corridor, with ongoing phases of development to optimize infrastructure delivery[20]. - The company has delivered 949 finished lots to homebuilders at Sky Ranch, with 228 lots under construction for delivery in fiscal 2025 and an additional 218 lots scheduled for fiscal 2026[21]. - The company has completed a wastewater reclamation facility at Sky Ranch, costing $10.2 million, with a capacity to serve over 2,000 homes before requiring expansion[72]. - The company has installed over 23 miles of water delivery and wastewater collection infrastructure at a cost of $7.9 million, which is reimbursable by the Sky Ranch CAB[74]. - The company expects full development of the Sky Ranch Master Planned Community to take another eight to ten years, depending on market conditions[73]. - The company is developing approximately 930 acres of land as a Master Planned Community known as Sky Ranch, where it will be the exclusive provider of water and wastewater services[65]. Water Resources and Services - The company has a competitive advantage by controlling both land development and water resources, allowing for efficient infrastructure development[14]. - The company owns water rights that allow it to serve an estimated 60,000 SFEs, enhancing its competitive advantage in a water-scarce region[18]. - The company provides wholesale water and wastewater services to local governmental entities, with the largest customer being the Rangeview Metropolitan District, serving over 1,400 single-family equivalent (SFE) water connections and more than 952 SFE wastewater connections as of August 31, 2024[18]. - The company is focused on providing sustainable and environmentally friendly water services to meet customer demands[5]. - The company anticipates increased demand for water services due to population growth in the Denver metropolitan area and the South Platte River basin[5]. - The company is well positioned to assist over 70 water providers along the Colorado Front Range in meeting their current and future water needs[87]. - The company has a total of 29,924 acre-feet of water assets, including 25,054 acre-feet of groundwater and 4,200 acre-feet of surface water[27]. - The Rangeview Water Supply consists of 26,924 acre-feet of tributary surface water and non-tributary groundwater, along with approximately 26,000 acre-feet of reservoir capacity[28]. Financial Performance and Projections - Future revenue is expected to increase from the development of the Sky Ranch property, with anticipated financial results including increases in customers and revenue[5]. - The company anticipates ongoing recurring rental income from its single-family rental homes, contributing to its balance sheet and diversifying revenue streams in a growing housing market[24]. - The company has raised over $76 million since 2004, including $25 million from common stock issuance and $5.2 million from convertible debt[131]. - The total sales price for the 792 lots sold and to be sold in Phase 2 is approximately $69.9 million, with Phase 2A lots priced at $18.4 million and Phase 2B lots at $17.3 million[69]. - The company sold 69 and 90 water and wastewater taps at Sky Ranch in fiscal 2024 and 2023, generating $2.6 million and $2.7 million in tap fees respectively[93]. - For Phase 2 of the Sky Ranch development, the company invested $18.8 million in fiscal 2024, with expectations of generating $19.8 million in additional tap fee revenue over the next three years[93]. Market Conditions and Risks - The company is dependent on the housing market and development in targeted service areas for future revenue, with potential adverse effects from economic conditions in Colorado[123]. - The residential homebuilding industry is cyclical, and recent rising interest rates have weakened demand for new home starts in Colorado[125]. - The company faces significant competition in land development, which may pressure pricing and affect business results[126]. - The company’s water business is subject to seasonal fluctuations and weather conditions, which could impact demand and revenue[129]. - Increased operating costs due to inflation and supply chain disruptions may adversely affect margins and financial performance[128]. - The company may struggle to attract and retain qualified personnel necessary for managing expanded operations and regulatory compliance[135]. - A downturn in the housing market could result in builders delaying home construction, impacting the company's ability to rent single-family homes at profitable rates[152]. - The company may face significant financial risks due to potential delays in land development and construction, which could lead to operating losses if cash flows are insufficient to cover expenditures[151]. Regulatory and Environmental Challenges - The company may incur significant costs for treating contaminated water sources, which could adversely affect revenues and financial condition[193]. - Regulatory changes regarding water quality standards, particularly concerning PFAS, could materially impact the company's water and wastewater operations[163]. - The implementation of SB 19-181 could adversely affect the company's water sales to the oil and gas industry and demand for new homes at Sky Ranch[175]. - Environmental regulations and legislative changes may reduce demand for water in the oil and gas industry, impacting sales[139]. - The company operates in a highly political environment, which may hinder or delay its ability to enter into service agreements or develop water rights[199]. - Municipalities may impose restrictions on utility availability, potentially causing delays and increased costs for the company[162]. - The company may face increased costs and operational challenges due to evolving environmental regulations and local government requirements[165]. Rental and Housing Market - The company launched a single-family rental division, initially contracting for 14 homes and currently under contract for 12 more, with plans to add 94 homes in Phase 2 and the potential for over 200 homes as Sky Ranch develops[24]. - The single-family rental market is estimated at $3.4 trillion, with demand for rental units steadily increasing due to demographic trends and remote work[100]. - The company anticipates building 84 additional rental homes at Sky Ranch, with an average construction cost of approximately $350,000 each[94]. - The success of the rental home division heavily depends on tenant selection, with potential defaults adversely affecting financial performance[156]. - The company anticipates high tenant turnover due to one-year lease terms, which may lead to increased costs and lower occupancy levels[157]. Operational and Management Aspects - The company employs licensed operators for its water and wastewater systems and plans to hire additional personnel as systems expand[88]. - As of August 31, 2024, the company employed 39 full-time employees, with approximately 26% in the water and wastewater segment, 44% in land development, and 30% in support functions[114]. - The company is dependent on the services of its President and CEO, Mark W. Harding, whose loss could significantly interrupt operations[202]. - The company may face potential liabilities related to labor law violations by subcontractors, which could create substantial exposures[191]. - The company faces risks from fixed-price contracts, which may lead to cost overruns if subcontractor estimates prove inaccurate[172].
Pure Cycle Corporation: Tapping Into Colorado's Growth With Efficiency And Scale
Seeking Alpha· 2024-10-27 12:50
Core Insights - Pure Cycle Corporation (NASDAQ: PCYO) has significant growth potential due to its ownership of valuable water reserves and assets that are becoming increasingly valuable [1] Company Overview - The company is in the early stages of monetizing its asset base, indicating a promising opportunity for future revenue generation [1] Investment Considerations - The article emphasizes the importance of conducting thorough research before making investment decisions, highlighting the author's commitment to extensive analysis [1]
Pure Cycle(PCYO) - 2024 Q3 - Earnings Call Transcript
2024-07-11 20:17
Pure Cycle Corporation (NASDAQ:PCYO) Q3 2024 Earnings Conference Call July 11, 2024 8:30 AM ET Company Participants Mark Harding - President & CEO Conference Call Participants John Rosenberg - Loughlin Water Partners Tucker Andersen - Above All Advisors Geoffrey Scott - Scott Asset Management Elliot Knight - Knight Advisors Operator Greetings. Welcome to the Pure Cycle Corporation Q3 2024 Earnings Call. At this time all participants are in a listen-only. A question-and-answer session will follow the formal ...
Pure Cycle(PCYO) - 2024 Q3 - Quarterly Results
2024-07-11 14:00
Exhibit 99.1 Pure Cycle Announces Financial Results For the Three and Nine Months Ended May 31, 2024 DENVER, CO / ACCESSWIRE / July 10, 2024 – Pure Cycle Corporation (NASDAQ Capital Market: PCYO) announced its financial results for the three and nine months ended May 31, 2024. Pure Cycle posted its twentieth consecutive fiscal quarter with positive net income. Pure Cycle continues to develop its Sky Ranch Master Planned Community, and as of May 31, 2024, we are actively working on Phase 2A, 2B and 2C. Phase ...
Pure Cycle(PCYO) - 2024 Q3 - Earnings Call Presentation
2024-07-11 12:34
PURE CYCLE CORPORATION RESULTS FOR NINE MONTHS ENDED MAY 31st, 2024 PG. 16 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------|------------------------|-----------------|--------|--------------------------|-------|--------------------------|----------|--------|-------------------------------------------------|-------| | SFR Projections | Phase 1 (+4 Homes) | Phase 2a (+10 | homes) | Phase 2b (+17 Homes) | | Phase 2c (+40 Homes) | Based on | actual | ...
Pure Cycle(PCYO) - 2024 Q3 - Quarterly Report
2024-07-10 20:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 000-08814 PURE CYCLE CORPORATION INDEX TO May 31, 2024 FORM 10-Q 3 See accompanying Notes to the Consolidated Financial Sta ...
Pure Cycle(PCYO) - 2024 Q2 - Earnings Call Presentation
2024-04-11 15:35
1 ROA Calculated Pre-TaxW/ Depreciation added back on Active Segment Assets Annuallized www.purecyclewater.com Ea6rnMinognsthPsreEsnednetadti2o/n2-9Q/210-220424 Pg. 24 | --- | --- | --- | --- | |-------|------------------------------|-------|-------| | | | | | | | | | | | | IMPORTANT UPDATES | | | | | | | | | | UpdatesandQ&A | | | | | STOCK REPURCHASE PROGRAM | | | | | CORPORATE INFORMATION | | | | | Q&A | | | | | | | | | | | | | www.purecyclewater.com Earnings Presentation - Q1 -2024 Pg. 25 www.purecyclewa ...
Pure Cycle(PCYO) - 2024 Q2 - Earnings Call Transcript
2024-04-11 15:33
Pure Cycle Corporation (NASDAQ:PCYO) Q2 2024 Earnings Conference Call April 11, 2024 8:30 AM ET Company Participants Mark Harding - President & CEO Marc Spezialy - CFO Conference Call Participants Operator Good morning, everyone, and welcome to the Pure Cycle Corporation’s Q2 2024 Earnings Call. At this time, all participants have been placed on a listen-only mode and the floor will be opened for questions after the presentation. [Operator Instructions] Please note, this conference is being recorded. I will ...