Pure Cycle Corp Sets Q1 Revenue Record Amid Favorable Weather and Strategic Growth

Pure Cycle Corp (PCYO) reported a record Q1 revenue, driven by favorable weather conditions and progress in phase 2D of their development projects. The company achieved significant increases in net income and earnings per share, but faces challenges in monetizing water rights and a potential impact from the housing market's interest rates and affordability issues. Pure Cycle Corp is ahead of its fiscal year forecast and continues to see strong customer growth in its recurring revenue streams.