Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| So again a great quarter |
| It provides accelerated positive cash flows to each unit |
| And so we have attractive margins with the well-balanced land plan between the residential and commercial |
| So, tremendous success on that rolling into the second phase |
| I will say we do a better job, but at the end of the day, we do deliver a very good product to our homebuilders, and our homebuilders carry forward our price advantage into their finished products |
| So very good relationship for both them and us |
| So it provides us some very attractive returns on a cash flow standpoint |
| We've maintained a pretty good cash run rate |
| Second surprise is that apparently, the Denver market is a lot stronger, particularly for first-time owners than I had thought |
| We're thrilled that all these - each segment is continuing to grow, continuing to demonstrate terrific margins, capitalizing on the legacy value of the assets and we look forward to continuing to deliver results |
| Excellent organic growth both at Sky Ranch and Wild Pointe with tremendous demand potential out of the Lowry Ranch |
| Had a kind of a record quarter for oil and gas deliveries |
| We acquired this land during The Great Recession in about 2010 very favorable basis in the land |
| It shows much better than in-person than it does on the slide deck |
| And so it was a great opportunity for both of us |
| We have very attractive margins |
| Both of these assets and both of these development opportunities are excellently positioned within the metropolitan area |
| Continue to add customers through Sky Ranch, had a great year, especially the last quarter for water sales to oil and gas operators, almost 263 million gallons of water |
| But we're seeing very strong demand in here and we like this segment a lot |
| So it's a very attractive segment for us |
| So we're pretty happy with - 2021 through 2023 are showing pretty consistent results, which is really indicative of the Sky Ranch community continuing to grow at a typical standard pace, what we feel pretty sustainable pace |
| So we're delighted for our price segmentation in that entry level |
| And then we have great commercial opportunity, given the proximity that we have to the interchange and to an interchange on the interstate |
| Our interest income was pretty good |
| One of the advantages, and I think we highlight that in our investment thing, but we've had these water rights for a very long time, and they've appreciated significantly in the value |
| We're excited that the school is opening and it's a great regional asset that's really going to be a center pivot point for us in the community |
| We have great transportation access |
| But there's tremendous amount of growth potential yet in this segment as well |
| We continue to have organic growth within our service areas |
| And then we are also seeing tremendous opportunity rolling into the second phase, to the next 211 lots |
| Statement |
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| But if you look at the national statistics, you have kind of weakening traffic mostly because of those interest rate and the mortgage locked buyers out there |
| And so that tap fee - that tap fee from a market-based reaction of the availability of water resources, and we've seen a big pressure on those staff fees |
| What became an opportunity for both them and us was particularly when interest rates were rising fast, and we moved into the winter months and everybody got all dark and cold and concerned about what the market was or wasn't going to do |
| The other key driver in the market conditions are probably the declining sale of some of the existing homes and those will be mortgage locked product where you've got a lot of mortgages that are at that very low mortgage rate |
| It hasn't taken off, it hasn't dropped despite the market challenges through the year |
| So a lot of demand in that in what was otherwise a soft or a slowing housing market |
| If you look at those, you can see a pretty sharp decline this year for the three months ended May 31 |
| Some of the headwinds in the market, things have started to normalize |
| It was a pretty tough winter |
| That's more than anomaly |
| We're certainly not seeing that |
| When you look at the period over period, last year was a little bit slow, the May 31, 2022, the three months ended there |
| The move-up buyer is probably a little bit more cautious on the decision making just because they have a very low basis in their interest rate |
| In an earlier call, you speculated that Pure Cycle might take back some lots from builders |
| Not because we had any tremendous layoffs or anything like that |
| So we have kind of a triple threat in each of the single-family units that we're building |
| And then we got even more aggressive |
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