AMREP CORP. (AXR) Form 10-Q — Sep 11, 2026
AMREP Corporation's fiscal Q1 (quarter ended July 31, 2026) net income fell 94% to $276,000, or $0.05 per diluted share, from $4,692,000, or $0.87 per diluted share, a year earlier. Total revenues dropped 66% to $6.051 million, with land sale revenues down 98% to just $173,000 and home sale revenues down 49% to $4.881 million on 12 homes sold versus 22. The deterioration extended to cash flow: operating activities used $3.634 million versus providing $9.525 million in the prior-year quarter, while G&A expenses rose 30% to $2.408 million, partly due to costs of terminating related-party agreements with TV Investments, LLC (a company 50% owned through an entity of board member Timothy S.
Key figures
- Eps
- 0.05
- Revenue
- 6051000
- Net Income
- 276000
- Total Debt
- 17000
- Revenue Yoy
- -66%
- Total Assets
- 145656000
- Cash Position
- 48684000
- Shares Outstanding
- 5324849
- Homes Sold
- 12 vs 22 prior year
- Ga Expenses
- $2,408,000 (up 30% YoY)
- Operating Loss
- -$163,000 vs operating income of $6,146,000 prior year
- Home Sale Revenue
- $4,881,000 (down 49% YoY from $9,570,000)
- Land Sale Revenue
- $173,000 (down 98% YoY from $7,494,000)
- Homes In Production
- 83
- Operating Cash Flow
- -$3,634,000 vs +$9,525,000 prior year
- Homes Under Contract
- 23, representing $12,505,000 of expected home sale revenues
- Shareholders Equity
- $141,111,000
- Average Selling Price
- $407,000 vs $434,000 prior year
- Home Sale Gross Margin
- 23% vs 25% prior year
- Land Sale Gross Margin
- not meaningful this quarter vs 69% prior year
- Tvi Termination Payments
- $315,000 total ($201,000 + $114,000) paid to TV Investments, LLC
AI analysis
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