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Pure Cycle (PCYO)
NASDAQ:PCYO
Earnings Data
Report Date
Apr 15, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.03Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed predominantly positive operational and financial progress: a record and profitable Q1 (>$9M revenue, ~$6.2M gross profit), accelerated land development (Phase 2D ahead of schedule), strong recurring water customer growth (22% CAGR), and expansion of single-family rentals. Management reiterated FY2026 guidance ($26M–$30M revenue; $0.43–$0.52 EPS) and highlighted substantial unused water capacity and strategic opportunities (commercial parcels, data center interest). Notable risks include quarter-to-quarter volatility in industrial water (oil & gas) revenues, reliance on interchange permitting/construction to unlock larger commercial value, and some near-term guidance uncertainty for FY2027. Overall, the positive operating execution and visibility on key value drivers materially outweigh the timing and execution risks discussed.Company Guidance
Record Q1 Revenue and Profitability
Q1 revenue of just over $9.0M and gross profit of about $6.2M; company reported continued streak of profitable quarters and significant increases in net income and EPS. Management stated Q1 represented ~1/3 of the fiscal year forecast and ~37% of full-year guidance, indicating a strong start to FY2026.
Land Development Acceleration (Phase 2D & 2E)
Phase 2D: ~80% of roads complete and 5–6 months ahead of schedule due to favorable weather; 2 new national homebuilders added to the portfolio; Phase 2B ~85% built out; Phase 2E planned at ~159 lots with grading to start in March, supporting continued lot delivery and monetization.
Recurring Water Revenue Growth
Recurring water customer base growing at a 22% CAGR, strengthening recurring revenue profile and demonstrating continued customer growth for metered water/wastewater services.
Single-Family Rental Expansion
Single-family rental segment: 19 homes completed and fully leased; ~40 additional units under contract with phased delivery planned (~4–5 units/month starting in May) to drive recurring rental revenue and asset appreciation.
Substantial Water Capacity and Low Utilization
System capacity cited at ~2,800 acre-feet annual production capacity while only ~150 acre-feet were used in the quarter (company noted using only ~3% of overall water portfolio), indicating significant unused capacity to support future industrial or residential demand.
Strengthening Asset Values and Tap Fee Trends
Tap fees increased roughly 6%–7% annually over prior years to around $42,000 per connection; historical water purchase price cited at ~$9,700/acre-foot vs. recent transactions north of $20,000/acre-foot, indicating material appreciation in water-related assets.
Balance Sheet, Capital Allocation and Shareholder Actions
Management emphasized a strong balance sheet, ongoing reinvestment into all three segments (land, water, rentals) and continuation of a share buyback program while protecting liquidity for development.
Permitting Progress and Interchange Expansion
Expanded/amended interchange access permit with CDOT; management expects permit submittal in spring, bid later in year, construction in 2027 and completion by early 2028—critical to unlock commercial parcels and Phase 3 value (public improvement receivable ~ $50M).
High-Margin Industrial Water Opportunity (Oil & Gas)
Oil & gas water deliveries are high-margin and management expects activity to ramp as fracking begins later in the year; management cited pads with ~10–20 wells and indicated visibility of 20–35 wells on certain pads, which could materially boost industrial water revenue.
PCYO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PCYO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Nov 12, 2025 | $11.23 | $11.05 | -1.60% |
Jul 09, 2025 | $10.64 | $10.40 | -2.26% |
Apr 09, 2025 | $10.78 | $10.29 | -4.55% |
Jan 08, 2025 | $11.98 | $11.57 | -3.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Pure Cycle (PCYO) report earnings?
Pure Cycle (PCYO) is schdueled to report earning on Apr 15, 2026, TBA (Confirmed).
What is Pure Cycle (PCYO) earnings time?
Pure Cycle (PCYO) earnings time is at Apr 15, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PCYO EPS forecast?
Currently, no data Available