Q3 2024 Pure Cycle Corp Earnings Call Transcript
Key Points
- Significant growth in overall revenues, up approximately 45% over the same period last year.
- Gross profit increased by over 60% from the same period last year.
- Net income and earnings per share are up over 30% from the same period last year.
- Strong liquidity with over $24 million in cash and $33.5 million in note receivable.
- Record year in water deliveries for oil and gas, demonstrating strong performance in the water segment.
- Frustration with the disconnect between the company's growth and its share price.
- Colorado's aggressive regulatory climate for oil and gas, requiring significant investment.
- Challenges in the Denver real estate market with affordability concerns and supply shortages.
- Potential delays in commercial development, with significant activity not expected until 2026.
- Continued need for significant investment in infrastructure and public improvements.
Greetings. Welcome to the Pure Cycle Corporation Q3 2024 Earnings Call. (Operator Instructions) Please note this conference is being recorded.
I will now turn the conference over to your host, Mark Harding, President and CEO. You may begin.
Thank you, Holly. And I'd like to welcome you all to our Q3 for 2024 period ending May 31. For those of you that are listening online, we also have a deck for this presentation. If you want to go to our website at purecyclewater.com, there'll be a banner on the landing page. You can click on that, and you can follow through with the slide deck on that. We will also post a presentation on our website for you to be able to take a look and drill down a little bit deeper as you desire.
So I will note the transition of the slides as we move through the presentation. Our first -- our second slide actually is our forward-looking statements, which I think you all are familiar with. Statements that are not historical facts contained or
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