HAVERTOWN, PA — AMREP Corporation (NYSE: AXR) reported a rise in net income for its fiscal first quarter ended July 31, 2025, even as revenues slipped compared to the same period last year.
Key Financials
- Revenues fell to $17.85 million in Q1 2026, down from $19.09 million in Q1 2025. (GlobeNewswire)
- Net income rose to $4.692 million, or $0.87 per diluted share, up from $4.064 million, or $0.76 per diluted share a year ago. (GlobeNewswire)
Although AMREP brought in less money overall, it was more profitable with the sales it made. “Diluted share” refers to earnings divided among all shares that could exist, including those from stock options and other potential shares – a way of measuring the earnings per share more conservatively. (GlobeNewswire)
The company noted that swings in revenue and profit are common in its business: values depend heavily on which plots of land or homes are sold (location, timing, type) and the price they fetch. Because development projects can vary greatly in cost, size, and profit margin, comparing one period to another doesn’t always give a full picture of future earnings. (GlobeNewswire)
AMREP holds large land assets and develops real estate. It builds homes and sells land, particularly in New Mexico. Because land development and homebuilding involve many phases—including acquisition, permitting, infrastructure, construction, and sale—profits can be volatile. (GlobeNewswire)
With net income up even as revenues slipped, AMREP will likely be focusing on managing costs, securing favorable sales in coming periods, and leveraging its existing land holdings. Investors will want to watch how consistent the profit margins remain as the company works to offset revenue volatility.
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