Loading...
•
Nov 30, 2025
Pure Cycle Q1 2026 Earnings Report
Pure Cycle reported higher revenue and earnings in Q1 2026 driven by increased lot sales and continued demand at Sky Ranch.
Key Takeaways
Pure Cycle delivered strong Q1 2026 results with significant growth in lot sales revenue, steady EPS improvement, and continued profitability. Water deliveries declined due to reduced oil & gas demand, but residential tap sales increased.
Revenue rose to $9.1 million, up from $5.8 million in Q1 2025, driven by land development.
Net income reached $4.6 million, marking the 26th consecutive profitable quarter.
51 water and wastewater taps were sold, compared to 38 in the prior year quarter.
Cash and cash equivalents stood at $17.1 million at quarter-end.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Pure Cycle expects continued growth in lot sales and rental expansion through fiscal 2026, with major developments planned for Phases 2D and 2E at Sky Ranch.
Positive Outlook
- Construction underway on 218 lots in Phase 2D, targeting completion in FY2026
- Phase 2E development to start summer 2026 with 159 lots marketed
- 100 single-family rentals expected in Phase 2, with room for 200
- Two new national homebuilders added to Phase 2D
- Charter high school construction underway, opening Fall 2026
Challenges Ahead
- Oil and gas water deliveries declined due to reduced drilling activity
- EBITDA declined 12% YoY to $6.7 million
- Some construction delays in lot deliveries from Phase 2D
- Water deliveries fell to 147 AF from 301 AF in prior year
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...