PURE CYCLE CORP 2026: Revenue $8.22M, EPS $0.12— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Pure Cycle Corp reported Q2 2026 revenue of $8.22M and diluted EPS of $0.12, up 60% and 33.3% year-over-year respectively. Growth was driven by land development activity and higher water sales to oil & gas customers. Total revenue rose 51% YTD, with lot sales up 78%. The company also recognized significant percentage-of-completion lot revenue and received $37.6M in tap fees.
PURE CYCLE CORP reported results for 2026 with revenue of $8.22M and diluted EPS of $0.12, driven by stronger land development activity and higher water sales versus the prior-year quarter.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $8.22M | $5.14M | 60% |
| Net income² | $2.95M | $2.26M | 30.7% |
| Diluted EPS³ | $0.12 | $0.09 | 33.3% |
¹ Reported as “Total revenues”. ² Reported as “Net income”. ³ Reported as “Earnings per common share - basic and diluted”.
Business Highlights
- Revenue growth: Total revenue rose 51% year-to-date, led by land development (lot sales up 78%) and increased water sales to oil & gas customers.
- Channel shift: Commercial water exports and O&G sales drove water deliveries up 137% YTD, shifting the mix toward commercial customers.
- Sky Ranch development: Phases 2A/2B are mostly complete; Phases 2C–2E are active with 591 lots remaining.
- Operational milestones: Recognized significant percentage-of-completion lot revenue; received $37.6M in tap fees with approximately $14.8M expected in near-term payments.
- Single-family rentals: SFR portfolio expanded to 39 homes (38 rented); 71 lots reserved for rentals with contracted construction underway.
Original SEC Filing: PURE CYCLE CORP [ PCYO ] - 10-Q - Jul. 08, 2026