Pure Cycle reports Q1 EPS 16c vs.9c last year

Reports Q1 revenue $5.8M vs. $5.4M last year. “Development at the Sky Ranch Master Planned Community continues to progress, and as of November 30, 2024, all homes are complete in Phase 2A, and we are finishing our warranty work. Our national homebuilder partners have begun construction in Phase 2B, as we finalize landscaping in this phase. We are actively developing Phase 2C, with utility work nearly 60% complete, and we anticipate delivering finished lots with home construction expected to begin late summer of 2025. Finally, we are well underway with grading work in Phase 2D and expect to complete these lots by the end of calendar year 2025. Pure Cycle (PCYO) continues to drive income from our resource rich asset base and in the three months ended November 30, 2024, we reported an increase in our royalty revenues from our oil and gas mineral interest at Sky Ranch, where an additional six wells were completed in 2024 that began producing during the quarter,” noted Pure Cycle.