Overview

* Pure Cycle ( PCYO ) 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 ( PCYO ) 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/Mis Actual Consensu

s s

Estimate

Q3 Net $2.26

Income mln

Q3 $3.63

EBITDA mln

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)