Pure Cycle Corp (NAS:PCYO)
$ 11.03 +0.25 (+2.32%) Market Cap: 265.56 Mil Enterprise Value: 255.77 Mil PE Ratio: 19.02 PB Ratio: 1.98 GF Score: 75/100
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Q2 2025 Pure Cycle Corp Earnings Call Transcript

Apr 10, 2025 / 12:30 PM GMT
Release Date Price: $10.29 (-4.55%)

Key Points

Positve
  • Pure Cycle Corp (PCYO) reported a strong financial performance with $4 million in revenue for Q2 2025, maintaining a 38% gross margin.
  • The company continues to benefit from high-margin mineral royalties, particularly from the Sky Ranch property.
  • Pure Cycle Corp (PCYO) is on track to meet its fiscal 2025 revenue guidance of approximately $31 million, with $10 million already achieved.
  • The water utility segment performed well, driven by capital fees from new development phases and continued customer growth.
  • The company maintains a strong liquidity position with over $20 million in cash and investments, supporting future growth and acquisitions.
Negative
  • Q2 is typically the softest quarter for Pure Cycle Corp (PCYO) due to seasonal construction challenges in Colorado.
  • Oil and gas revenues were weaker than expected, impacting the overall performance of the water utility segment.
  • There is a timing gap in single-family rental unit deliveries due to delays in permit approvals and construction.
  • The company faces regulatory hurdles in developing the I-70 interchange, which is crucial for future commercial development.
  • Pure Cycle Corp (PCYO) acknowledges the challenge of tying up capital in rental units, which may impact liquidity for future land acquisitions.


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

PCYO.OQ - Pure Cycle Corp
Q2 2025 Pure Cycle Corp Earnings Call
Apr 10, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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If my.

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Unidentified_2 [2]
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Admit.

Good morning. I'd like to welcome you all to our, second quarter fiscal year 2025 earnings call. For those of you that are listening on the phone, I think most of you have connected through this through our website, but we do have a Deck for this that is on our landing page of the website. So if you go to pureyewater.com, you can click on that link and I'll take you directly to the presentation and I can walk you through the presentation as we move through our slides.

With me today, is our CFO Mark Balli, as
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