Business
Pure Cycle Announces Financial Results For the Three and Six Months Ended February 28, 2025
DENVER, CO / ACCESS Newswire / April 9, 2025 / Pure Cycle Corporation (NASDAQ:PCYO) announced its financial results for the three and six months ended February 28, 2025. Pure Cycle posted its twenty-third consecutive fiscal quarter with positive net ...
About this update from Pure Cycle Corporation
[{"type":"text","content":"DENVER, CO / ACCESS Newswire / April 9, 2025 / Pure Cycle Corporation (NASDAQ:PCYO) announced its financial results for the three and six months ended February 28, 2025. Pure Cycle posted its twenty-third consecutive fiscal quarter with positive net income. Development at the Sky Ranch Master Planned Community continues to progress, as we complete our seasonally low winter quarter. We have completed development of Phase 2A, and we are finishing our landscaping and warranty work on Phase 2B as our national homebuilder partners have begun construction in Phase 2B with approximately 70 homes completed or under construction for the spring selling season. We are actively developing Phase 2C, with utility work and road work well underway, and we anticipate delivering finished lots with home construction expected to begin late summer of 2025. Additionally, we have finalized our grading work in Phase 2D and expect to complete these lots by the end of the calendar year 2025. Finally, we have started platting our next subphase, Phase 2E, for which we expect to have lots ready for our national homebuilder partners by the end of fiscal 2026. Pure Cycle continues to drive income from our resource rich asset base and in the three and six months ended February 28, 2025, 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 this fiscal year.","length":1474,"tagName":"p"},{"type":"text","content":"Our capital management and balance sheet strategy remains focused on growth and shareholder returns. We are prioritizing investment in our ongoing development projects while utilizing available liquidity to continue our share repurchase program and reserving sufficient capital for strategic development initiatives and land acquisitions.","length":338,"tagName":"p"},{"type":"text","content":"Q2 and YTD 2025 Highlights","length":26,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenues for the three and six months ended February 28, 2025 of $4.0 million and $9.7 million, which drove pre-tax income of $1.1 million and $6.3 million;","length":156,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income for the three and six months ended February 28, 2025 of $0.8 million and $4.7 million;","length":97...