Pure Cycle posts decline in Q3 revenue
Overview
Pure Cycle fiscal Q3 revenue decreased to $5.1 mln from $7.6 mln yoy
Net income for fiscal Q3 was $2.3 mln, marking 24th positive qtr
Company continues Sky Ranch development, generating income from oil and gas
Outlook
Company expects Phase 2C lots ready by end of fiscal 2025
Company plans Phase 2E lots ready by end of calendar 2026
Pure Cycle sees continued growth in residential water service revenues
Result Drivers
SKY RANCH DEVELOPMENT - Continued development of Sky Ranch community supports income, driven by entry-level lot pricing and low inventory
OIL AND GAS ROYALTIES - Increase in royalty revenues from oil and gas interests at Sky Ranch, with six new wells contributing to income
WATER AND WASTEWATER TAP SALES - Significant increase in tap sales revenue due to development activities in Phase 2B
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income |
| $2.26 mln |
|
Q3 EBITDA |
| $3.63 mln |
|
Press Release: ID:nACS7RmSqa
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