reports
Vidler Water Resources, Inc. Announces Results for the First Quarter o...
CARSON CITY, Nev.--(BUSINESS WIRE)-- Vidler Water Resources, Inc. announced its reported results for the first quarter ended March 31, 2021. Our reported shareholders’ equity was $177.9 million ($9.63 per share) at March 31, 2021, compared to $178.3 million ($9.59 per share) at December 31, 2020. First Quarter Results of Operations Our fourth quarter results of operations were as follows (in thousands): Three Months Ended March 31, 2021 2020 Total revenue $ 2,933 $ 229 Total cost and expenses 2,219 ...
Vidler Water Resources, Inc. Announces Agreement With Solar Energy Dev...
CARSON CITY, Nev.--(BUSINESS WIRE)-- Vidler Water Resources, Inc. announced that it has entered into an agreement to lease up to 1,926 acres of its land in Maricopa and La Paz Counties in Arizona to an affiliate of one of the world’s largest producers of wind and solar energy. The agreement is structured as an option for up to five years to lease up to 1,926 acres for $500 per acre per year for 26 years with two five-year options to extend the lease. The agreement also provides for a lease rate increase of 2% per annum over the term of the lease. In addition, Vidler also agreed to reserve 2,00...
PICO Holdings, Inc. Announces Change of Name to Vidler Water Resources...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. announced that its Board of Directors has amended the Company’s Certificate of Incorporation and Bylaws and changed the name of the Company to Vidler Water Resources, Inc. with effect from March 8, 2021. The Company also announced, concurrent with the change of name of the corporation, it has changed its ticker symbol to VWTR on the Nasdaq Global Market, effective March 9, 2021. The Company also announced its reported results for the fourth quarter ended December 31, 2020. Our reported shareholders’ equity was $178.3 million ($9.59 per s...
PICO Holdings, Inc. Announces Results for the Third Quarter of 2020
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the third quarter ended September 30, 2020. Our reported shareholders’ equity was $170.0 million ($9.05 per share) at September 30, 2020, compared to $178.3 million ($9.01 per share) at December 31, 2019. Third Quarter Results of Operations Our third quarter results of operations were as follows (in thousands): Three Months Ended September 30, 2020 2019 Total revenue $ 2,072 $ 4,255 Total cost and expenses 2,220 ...
PICO Holdings, Inc. Announces Results for the Second Quarter Of 2020
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the second quarter ended June 30, 2020. Our reported shareholders’ equity was $172.3 million ($9.06 per share) at June 30, 2020, compared to $178.3 million ($9.01 per share) at December 31, 2019. Second Quarter Results of Operations Our second quarter results of operations were as follows (in thousands): Three Months Ended June 30, 2020 2019 Total revenue $ 3,845 $ 2,663 Total cost and expenses 1,981 3,781 Net ...
Pico Holdings, Inc. Announces Adoption of New Tax Benefits Preservatio...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) (the “Company”) announced today that its Board of Directors has adopted a new tax benefits preservation plan (the “Plan”) designed to preserve the Company’s ability to utilize its net operating losses (“NOLs”). The Company will seek shareholder ratification of the Plan at PICO’s 2021 Annual Meeting. As of December 31, 2019, the Company had approximately $156.5 million (pre-tax) federal NOLs. The Plan is similar to the Company's previous tax benefits preservation plan, which expired on July 24, 2020 and tax benefits preserva...
Pico Holdings, Inc. Announces Delisting of Expiring Rights
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) (the “Company”) announced today its intention to voluntarily delist the Company’s Series A Junior Participating Preferred Stock Purchase Rights (the “Rights”) from the NASDAQ Stock Market LLC (“NASDAQ”) due to the upcoming expiration of that certain Section 382 Rights Agreement between the Company and Computershare Trust Company, N.A. dated July 24, 2017 (the “Rights Agreement”). The Rights Agreement will expire at 5:00 P.M. New York City time on July 24, 2020. Pursuant to the Rights Agreement, the Company issued one Right ...
PICO Holdings, Inc. Announces Results for the First Quarter of 2020
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the first quarter ended March 31, 2020. Our reported shareholders’ equity was $173.3 million ($8.94 per share) at March 31, 2020, compared to $178.3 million ($9.01 per share) at December 31, 2019. First Quarter Results of Operations Our first quarter results of operations were as follows (in thousands): Three Months Ended March 31, 2020 2019 Total revenue $ 229 $ 12,120 Total cost and expenses 2,040 5,436 Gain ...
PICO Holdings, Inc. Announces Fourth Quarter and Full Year 2019 Result...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the fourth quarter and full year ended December 31, 2019. Our reported shareholders’ equity was $178.3 million ($9.01 per share) at December 31, 2019, compared to $176.6 million ($8.52 per share) at December 31, 2018. Fourth Quarter Results of Operations Our fourth quarter results of operations were as follows (in thousands): Three Months Ended December 31, 2019 2018 Total revenue $ 10,360 $ 2,789 Total cost and expenses 5,779 ...
PICO Holdings, Inc. Announces an Increase in the Board Authorization o...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (Nasdaq: PICO) announced today that its Board of Directors has approved the repurchase of up to an aggregate of $100 million of its common stock which would be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market, as capital becomes available. The Company's Board of Directors had previously authorized in November 2015 an aggregate of $50 million for its stock repurchase program and to date the Company has repurchased 3,494,443 shares for approximately $38.9 million. The Co...
PICO Holdings, Inc. Announces Sale of Long-Term Storage Credits in Ari...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ: PICO) announced today that the city of El Mirage in Arizona has approved the purchase from the Company’s wholly owned subsidiary, Vidler Water Company Inc., (“Vidler”) of 25,000 Long - Term Storage Credits banked in the Phoenix Active Management Area for proceeds of $8.69 million ($347.50 per Credit). Funding of the transaction is expected before December 19, 2019, and the transaction will be recorded in the Company’s financial statements for the year ending December 31, 2019. The Company’s remaining inventory of Long - Term S...
PICO Holdings, Inc. Announces Results for the Third Quarter of 2019
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the third quarter ended September 30, 2019. Our reported shareholders’ equity was $175.6 million ($8.79 per share) at September 30, 2019, compared to $176.6 million ($8.52 per share) at December 31, 2018. Third Quarter Results of Operations Our third quarter results of operations were as follows (in thousands): Three Months Ended September 30, 2019 2018 Total revenue $ 4,254 $ (694 ) Total cost and expenses 2,875 3,975 ...
PICO Holdings, Inc. Announces Water Asset Monetizations
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) announced today that its wholly owned subsidiary, Vidler Water Company Inc., (“Vidler”) has closed or anticipates it will shortly close three separate sales of water assets from Vidler’s strategic water asset portfolio. In Nevada, a gold mining company exercised its option to purchase 470 acre-feet of Vidler’s water rights in Dodge Flat, northern Nevada for approximately $3 million. In addition, during the third quarter of 2019, Vidler’s 51% owned subsidiary, Fish Springs Ranch, LLC sold approximately 11.6 acre-feet of ...
PICO Holdings, Inc. Announces Results for the Second Quarter Of 2019
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the second quarter ended June 30, 2019. Our reported shareholders’ equity was $175.2 million ($8.73 per share) at June 30, 2019, compared to $176.6 million ($8.52 per share) at December 31, 2018. Second Quarter Results of Operations Our second quarter results of operations were as follows (in thousands): Three Months Ended June 30, 2019 2018 Total revenue $ 2,663 $ 10,612 Total cost and expenses 3,781 6,281 ...
PICO Holdings, Inc. Announces Results for the First Quarter of 2019
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the first quarter ended March 31, 2019. Our reported shareholders’ equity was $179.0 million ($8.81 per share) at March 31, 2019, compared to $176.6 million ($8.52 per share) at December 31, 2018. First Quarter Results of Operations Our first quarter results of operations were as follows (in thousands): ...
PICO Holdings, Inc. Announces Fourth Quarter and Full Year 2018 Result...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the fourth quarter and full year ended December 31, 2018. We reported shareholders' equity of $176.6 million ($8.52 per share) at December 31, 2018, compared to $184.5 million ($8.60 per share) at September 30, 2018 and $207.2 million ($8.95 per share) at December 31, 2017. Fourth Quarter Results of Operations For the fourth quarter of 2018, we reported a net loss of $100,000 ($0.01 per share), compared to a net loss of $1.1 m...
PICO Holdings, Inc. Provides Update on Ruling Regarding Campbell Ranch...
CARSON CITY, Nev.--(BUSINESS WIRE)-- PICO Holdings, Inc. (Nasdaq: PICO) announced today that its subsidiary, Aquifer Science, LLC has received a ruling from the New Mexico Second Judicial District Court denying its De Novo appeal of the New Mexico State Engineer’s denial of Application S-2618 for 350 acre-feet of groundwater rights for the Campbell Ranch development project in Bernalillo County, New Mexico. The Company is reviewing the ruling and its future options and evaluating whether to appeal the Court’s decision to deny...
PICO Holdings, Inc. Announces Correction to Date of 2019 Annual Meetin...
PICO Holdings, Inc. Announces Correction to Date of 2019 Annual Meeting of Shareholders CARSON CITY, Nev., Nov. 06, 2018 (GLOBE NEWSWIRE) -- PICO Holdings, Inc. (NASDAQ:PICO) announced today that its 2019 Annual Meeting of Stockholders will be held in Omaha, Nebraska on Friday, May 3rd at the Durham Museum (and not on May 4th as previously announced). We have found in the past, due to our meeting schedule, that many of our attendees leave for Omaha for the Berkshire Hathaway annual stockholders meeting immediately following our Annual Stockholders Meeting. Our 2019 Annual Meeting of St...
PICO Holdings, Inc. Announces Results for the Second Quarter of 2018
PICO Holdings, Inc. Announces Results for the Second Quarter of 2018 CARSON CITY, Nev., Aug. 08, 2018 (GLOBE NEWSWIRE) -- PICO Holdings, Inc. (NASDAQ:PICO) reported results for the second quarter ended June 30, 2018. Our reported shareholders’ equity was $196 million ($8.90 per share) at June 30, 2018, compared to $207.2 million ($8.95 per share) at December 31, 2017. Second Quarter Segment Results of Operations For the second quarter of 2018, we reported net income of $4.3 million ($0.19 per share), compared to net income of $1.6 million ($0.07 per share) in the second quarter of 2017...
PICO Holdings, Inc. Announces Management Reorganization
PICO Holdings, Inc. Announces Management Reorganization CARSON CITY, Nev., Aug. 08, 2018 (GLOBE NEWSWIRE) -- PICO Holdings, Inc. (NASDAQ:PICO) announced, effective August 2, the Company’s Board of Directors has appointed Dorothy Timian - Palmer as Chief Executive Officer of the Company to succeed Max Webb in that role. Mr. Webb will continue to serve the Company in the newly created position of Executive Chairman. The Company also announced that John Perri, the Company’s Chief Financial Officer, will leave the Company once an orderly transition with new finance staff in Carson City, Nevad...
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