AMREP Reports Second Quarter Fiscal 2025 Results
Rhea-AI Summary
AMREP (NYSE:AXR) reported strong financial results for its fiscal 2025 second quarter. Net income reached $4,042,000 ($0.75 per diluted share), compared to $1,108,000 ($0.21 per diluted share) in the same period last year. Revenues increased to $11,906,000 from $8,854,000 year-over-year.
For the first six months of 2025, net income was $8,106,000 ($1.51 per diluted share), up from $2,454,000 ($0.46 per diluted share) in 2024. Six-month revenues grew to $30,997,000 from $19,143,000 in the previous year. The company, a major land holder and real estate developer in New Mexico, notes that revenues and margins can vary significantly between periods due to transaction timing and property characteristics.
Positive
- Net income increased by 265% to $4,042,000 in Q2 FY2025
- Q2 FY2025 revenues grew by 34.5% to $11,906,000
- Six-month revenues increased by 62% to $30,997,000
- Six-month net income rose by 230% to $8,106,000
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, AXR declined 11.18%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HAVERTOWN, Pa., Dec. 13, 2024 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of
More information about the Company’s financial performance may be found in AMREP Corporation’s financial statements on Form 10-Q which have today been filed with the Securities and Exchange Commission and will be available on AMREP’s website (www.amrepcorp.com/sec-filings/). As a result of many factors, including the nature and timing of specific transactions and the type and location of land or homes being sold, revenues, average selling prices and related gross margins from land sales or home sales can vary significantly from period to period and prior results are not necessarily a good indication of what may occur in future periods.
AMREP Corporation, through its subsidiaries, is a major holder of land, leading developer of real estate and award-winning homebuilder in New Mexico.
| FINANCIAL HIGHLIGHTS | ||||||
| Three Months Ended October 31, | ||||||
| 2024 | 2023 | |||||
| Revenues | $ | 11,906,000 | $ | 8,854,000 | ||
| Net income | $ | 4,042,000 | $ | 1,108,000 | ||
| Earnings per share – basic | $ | 0.76 | $ | 0.21 | ||
| Earnings per share – diluted | $ | 0.75 | $ | 0.21 | ||
| Weighted average number of common shares outstanding – basic | 5,320,000 | 5,301,000 | ||||
| Weighted average number of common shares outstanding – diluted | 5,374,000 | 5,339,000 | ||||
| Six Months Ended October 31, | ||||||
| 2024 | 2023 | |||||
| Revenues | $ | 30,997,000 | $ | 19,143,000 | ||
| Net income | $ | 8,106,000 | $ | 2,454,000 | ||
| Earnings per share – basic | $ | 1.53 | $ | 0.46 | ||
| Earnings per share – diluted | $ | 1.51 | $ | 0.46 | ||
| Weighted average number of common shares outstanding – basic | 5,314,000 | 5,296,000 | ||||
| Weighted average number of common shares outstanding – diluted | 5,367,000 | 5,333,000 | ||||
| CONTACT: | Adrienne M. Uleau |
| Vice President, Finance and Accounting | |
| (610) 487-0907 |
FAQ
What was AMREP's (AXR) earnings per share for Q2 2025?
How much revenue did AXR generate in the first six months of fiscal 2025?
What was AXR's net income growth in Q2 2025 compared to Q2 2024?
How did AMREP's six-month earnings per share perform in fiscal 2025?
