Pure Cycle Corp (NAS:PCYO)

Q2 2026 Pure Cycle Corp Earnings Call Transcript

Apr 9, 2026 / 12:30 PM GMT

Release Date Price: $11.85 (+0.94%)

Transcript 8-K10-Q

Key Points

Positve

Pure Cycle Corp (PCYO) reported a strong quarter with $5.1 million in revenue and $2.8 million in gross profit, driven by lot deliveries ahead of schedule.
The company has seen a 36% increase in net income, largely due to growth in all segments, including land, water, and single-family rentals.
Industrial water sales to oil and gas operators have increased significantly, contributing to strong performance in the water segment.
The land development segment is progressing well, with Phase 2C and 2D nearing completion and plans to start Phase 2E, which will deliver 160 lots by summer 2027.
Pure Cycle Corp (PCYO) maintains a strong balance sheet and liquidity position, allowing for continued investment in infrastructure and development projects.

Negative

The timeline for the completion of the new interchange has slipped slightly, now expected in 2028 instead of late 2027.
There is uncertainty in the data center market in Colorado due to inconsistent state policies on tax incentives and power supply challenges.
The company has decided to slow the growth of its single-family rental segment due to concerns about corporate ownership and housing affordability.
Recurring revenue from some commercial customers has shown a slight decline due to fluctuations in demand from off-site governmental buildings.
The oil and gas segment's revenue is subject to variability, as contracts are not take-or-pay, meaning demand can fluctuate with oil prices.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PCYO.OQ - Pure Cycle Corp
Q2 2026 Pure Cycle Corp Earnings Call
Apr 09, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and welcome to Pure Cycle Corporation's second quarter 2026 earnings call.

As in prior quarters, we'll start the call with a presentation from our CEO, Mark Harding. And then we'll provide time for questions and answers afterwards.

The person you're trying to reach is not available. At the tone, please record your message. When you have finished recording, you may hang up.

What?

Yeah, if I could ask everybody to mute their call. It looks like everybody's joining unmuted right now.

All right. Sorry about that. So we'll start the earnings call with a presentation from Mark Harding, and then we'll open up the lines for questions and answers afterwards. Without further ado, I

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