May 2026 (Q3 FY26) — Jul 9, 2026
Pure Cycle Q3 FY26 – Strong Water Sales and Accelerated Lot Deliveries Drive Profitability
Read the full callPure Cycle (PCYO) earnings
- May 2026
- May 2026 (Q3 FY26)
- Aug 2025
Pure Cycle earnings: last reported Thu, 9 Jul 2026, for the quarter ended May 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 8.2 | +60.0% YoY | Quarterly, as filed | Quarter to May 2026 | Revenue from operations as filed. |
| Operating margin | 25.7 | −0.2 pts YoY | Operating profit / revenue | Quarter to May 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2.9 | +30.7% YoY | Quarterly, as filed | Quarter to May 2026 | Profit after tax as filed. |
Price
$10.85 −1.54% · −$0.17
Performance −1.1% 1Y
1Y: $10.97 on 17 Oct 2025 → $10.85. High $11.94 (12 Dec 2025), low $9.85 (26 Mar 2026).
- Previous close
- $11.02
- 52-week range
- $9.85 – $11.94
- One year
- −1.72%
Overview
- Symbol
- PCYO
- Sector
- Utilities
- Exchange
- US
- Currency
- USD
Call summaries
Every analysed call
Pure Cycle earnings calls (PCYO)
Financials
What the filings say
Net profit, year on year: +31% (quarter to may 2026 against may 2025).
| Line item | Aug 2024 | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 13 | 6 | 4 | 5 | 11 | 9 | 5 | 8 |
| Operating profit | 8 | 2 | -1 | 1 | 6 | 4 | 0 | 2 |
| Operating margin | 62.0% | 29.9% | −33.2% | 25.9% | 53.1% | 48.0% | 5.1% | 25.7% |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 9 | 5 | 1 | 3 | 8 | 6 | 2 | 4 |
| Tax rate | 25.1% | 24.4% | 24.8% | 24.6% | 25.4% | 24.3% | 26.9% | 24.5% |
| Net profit | 7 | 4 | 1 | 2 | 6 | 5 | 1 | 3 |
| EPS ($ per share) | — | 0.16 | 0.03 | 0.09 | — | 0.19 | 0.05 | 0.12 |
| Line item | Aug 2018 | Aug 2019 | Aug 2020 | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -103 | -98 | -91 | -71 | -61 | -57 | -46 | -33 |
| Total liabilities | 2 | 9 | 8 | 14 | 16 | 15 | 18 | 20 |
| Fixed assets | 37 | 50 | 55 | 57 | — | — | — | — |
| Investments | 9 | 5 | 0 | — | — | — | — | — |
| Total assets | 72 | 84 | 90 | 117 | 129 | 133 | 147 | 162 |
| Line item | Aug 2018 | Aug 2019 | Aug 2020 | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 0 | 4 | 21 | 3 | 17 | -2 | 2 | 13 |
| Cash from investing | 6 | -11 | -3 | -3 | -7 | -9 | -5 | -10 |
| Cash from financing | 0 | 0 | 0 | 0 | 4 | 3 | -1 | -0 |
| Capital expenditure | -0 | -0 | -1 | -0 | -0 | -0 | -0 | -1 |
| Free cash flow | -0 | 3 | 20 | 3 | 17 | -3 | 2 | 12 |
Insider filings
15 filings between Nov 17, 2025 and Sep 22, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$757.1K
1 sale by 1 insider
Compensation
not trading decisions- 9
- Award — granted as compensation
- 2
- Option exercise — converted options into shares
- 1
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift, 1 other.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Kozlowski Daniel R | — | $757.1K | Nov 17, 2025 |
Latest filings (33)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 22, 2026 | HARDING MARK W CHIEF EXECUTIVE OFFICER | Option exercise | 50,000 | $280.5K |
| Sep 22, 2026 | HARDING MARK W CHIEF EXECUTIVE OFFICER | Tax withheld | 25,271 | $280.5K |
| Sep 16, 2026 | Fink Christopher Director | Award | 1,123 | $0 |
| Sep 16, 2026 | Haecker Kelly J Director | Award | 1,123 | $0 |
| Jan 14, 2026 | Kozlowski Daniel R Director | Award | 2,653 | $0 |
| Jan 14, 2026 | Abel Wanda J Director | Award | 2,653 | $0 |
| Jan 14, 2026 | Heitmann Susan Diane Director | Award | 2,653 | $0 |
| Jan 14, 2026 | FENDEL FREDERICK A. III Director | Award | 2,653 | $0 |
| Jan 14, 2026 | Roller Daniel J Director | Award | 2,653 | $0 |
| Jan 14, 2026 | Sheets Jeffrey G Director | Award | 2,653 | $0 |
| Jan 14, 2026 | BEIRNE PATRICK Director | Award | 2,653 | $0 |
| Jan 12, 2026 | HARDING MARK W CHIEF EXECUTIVE OFFICER | Gift | 210,000 | $0 |
| Nov 17, 2025 | Kozlowski Daniel R Director | Other | 2,600,000 | $0 |
| Nov 17, 2025 | Kozlowski Daniel R Director | Sale | 68,778 | $757.1K |
| Nov 17, 2025 | BEIRNE PATRICK Director | Option exercise | 10,000 | $40.5K |
| Sep 17, 2025 | HARDING MARK W CHIEF EXECUTIVE OFFICER | Award | 10,000 | $0 |
| Jan 15, 2025 | FENDEL FREDERICK A. III Director | Award | 2,566 | $30.0K |
| Jan 15, 2025 | Heitmann Susan Diane Director | Award | 2,566 | $30.0K |
| Jan 15, 2025 | Sheets Jeffrey G Director | Award | 2,566 | $30.0K |
| Jan 15, 2025 | BEIRNE PATRICK Director | Award | 2,566 | $30.0K |
| Jan 15, 2025 | Kozlowski Daniel R Director | Award | 2,566 | $0 |
| Jan 15, 2025 | Abel Wanda J Director | Award | 2,566 | $30.0K |
| Nov 21, 2024 | Kozlowski Daniel R Director | Sale | 20,000 | $262.0K |
| Nov 20, 2024 | HARDING MARK W CHIEF EXECUTIVE OFFICER | Gift | 390,000 | $0 |
| Nov 20, 2024 | HARDING MARK W CHIEF EXECUTIVE OFFICER | Gift | 390,000 | $0 |
| Jan 17, 2024 | Kozlowski Daniel R Director | Award | 3,006 | $0 |
| Jan 11, 2023 | Kozlowski Daniel R Director | Award | 3,003 | $0 |
| Nov 30, 2022 | Kozlowski Daniel R Director | Sale | 33,500 | $343.2K |
| Nov 30, 2022 | Kozlowski Daniel R Director | Other | 309,744 | — |
| Nov 30, 2022 | Kozlowski Daniel R Director | Other | 865,042 | — |
| Nov 29, 2022 | Kozlowski Daniel R Director | Other | 26,208 | — |
| Nov 29, 2022 | Kozlowski Daniel R Director | Sale | 16,500 | $168.5K |
| Nov 29, 2022 | Kozlowski Daniel R Director | Other | 344,967 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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