Pure Cycle Corporation (PCYO) Earnings Call Transcripts

Pure Cycle Corporation's Latest Earnings Call - Q2 FY2026

In the second quarter of fiscal year 2026, Pure Cycle Corporation (PCYO) reported revenues of approximately $5.1 million and earnings per share (EPS) of $0.05, reflecting a 36% increase in net income year-over-year. The company is on track to exceed its full-year guidance of $30 million in revenue and $19 million in profit, driven by strong performance in its land development and water utility segments. Management highlighted a robust demand for lots from homebuilders and an uptick in industrial water sales, suggesting positive momentum going forward.

Reported metrics

Guidance from management

Management expects to exceed its full-year guidance of $30 million in revenue and $19 million in profit, driven by strong demand in the housing market and industrial water sales.

What management said

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. [Operator Instructions] Okay. 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 line...

Yes. Yes. That probably has slipped just a little bit, but we continue to be able to deliver each individual phase. So I think we'll still -- we won't really miss any of our cadence on lot deliveries on that. And I think what we've tried to do is work concurrently with some of our commercial opportunities because those have a lead time as well, and we want to make sure that we can bring those online as we're construc...

What analysts pressed on

Analysts expressed concerns about the potential impact of interest rates on consumer confidence and home sales. There were also questions regarding the timing of the interchange development and its implications for commercial opportunities.

Main topics on the call

• Revenue Growth — Pure Cycle reported $5.1 million in revenue for Q2 2026, with a gross profit of $2.8 million. CEO Mark Harding noted, "We're about as much as 6 months ahead of schedule on some of the lot deliveries," indicating strong o...
• Earnings Performance — The company achieved a net income of over $1 million and EPS of $0.05, up 36% year-over-year. This performance was attributed to advancements across all business segments, particularly land and water.
• Guidance Update — Management maintained its full-year guidance of $26 million to $30 million in revenue and $19 million in profit. They expressed confidence in exceeding these targets due to strong demand in the housing market and industr...
• Land Development Progress — The company is nearing completion of Phase 2C with about 95% completion and has seen an increase in lot deliveries. Harding mentioned, "We do see a significant uptick in our density out at Sky Ranch," which is expected t...

Read the full Pure Cycle Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 Pure Cycle Corporation earnings call transcripts on record, spanning January 7, 2020 to July 15, 2026. Based on this history, Pure Cycle Corporation reports quarterly. The most recent call on file is dated July 15, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PCYO

Exchange

NasdaqCM

Country

US

Sector

Utilities

Industry

Water Utilities

Calls on record

30

First call

January 7, 2020

Most recent

July 15, 2026

Reporting cadence

quarterly