The following is a summary of the Pure Cycle Corporation (PCYO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Pure Cycle Corporation reported Q2 2024 revenue of $8.5 million, net income of $2 million, and an earnings per share of $0.09.

• The company maintains a strong balance sheet with over $50 million in cash and notes receivable and moderate debt.

• All three of the corporation's business segments reported gross margins exceeding 50%.

Business Progress:

• The company reported progress in its three key business sectors: water provision and wastewater treatment, land development, and single-family rentals, all of which are integrated.

• They have achieved a potential for approximately 60,000 single-family connections in their water and wastewater service provision, with over 1,300 connections already established.

• They have completed 14 units in their Single Family Rental segment, are running at 100% occupancy and plan to add 200-300 more units to be accomplished by Summer 2024.

• They are contemplating strategic acquisitions to grow their portfolio and are planning an aggressive stock buyback strategy.

• They announced an upcoming investor day and are working towards bridging the gap between their market valuation and intrinsic value.

More details: Pure Cycle IR

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