Pure Cycle Announces Financial Results for the Year Ended August 31, 2022

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Nov 15, 2022

DENVER, CO / ACCESSWIRE / November 14, 2022 / Pure Cycle posted $9.6 million of net income for the year ended August 31, 2022, which marks our fifth consecutive year and fourteenth consecutive quarter with positive net income. Each of our three cohesive business lines, being land development, water resource development, and single-family rentals, contributed to the positive income. We continue developing our master planned community, Sky Ranch, while expanding our water resource development business in terms of adding customers, acquiring water assets, and growing our rental home business. Mark Harding, CEO of Pure Cycle, commented that "as we wrap up 2022 and move into 2023, while cautious about the housing market, we couldn't be more pleased with the progress we made at Sky Ranch, with the continued expansion of our water resource business and the successful launch of our rental business."