Welcome to our dedicated page for AMREP news (Ticker: AXR), a resource for investors and traders seeking the latest updates and insights on AMREP stock.
AMREP Corporation (NYSE: AXR) generates a regular flow of corporate news centered on its real estate operations, financial performance and shareholder matters. Through its subsidiaries, the company is involved in land sales and lease activities, investments in commercial and investment properties and homebuilding, and it describes itself as a major holder of land, developer of real estate and homebuilder in New Mexico.
News releases from AMREP commonly report its results of operations for specific fiscal quarters and fiscal years. These announcements, often furnished to the SEC on Form 8-K, provide information on revenues, net income and earnings per share for the reported periods. The company also highlights that revenues, average selling prices and gross margins from land sales and home sales can vary significantly from period to period due to the nature and timing of transactions and the type and location of properties sold.
In addition to earnings-related updates, AMREP issues news about corporate and financing developments. For example, the company has reported on modifications to its revolving line of credit financing facility between BOKF, NA dba Bank of Albuquerque and AMREP Southwest Inc., a subsidiary of AMREP Corporation. Such announcements describe changes to the loan’s maturity date and borrowing capacity and note that the facility is for general corporate purposes.
AMREP’s communications also cover governance and shareholder topics, including notices and outcomes of its annual meeting of shareholders as described in its proxy materials. Readers following AXR news can use this page to review earnings press releases, information on financing arrangements and updates on shareholder votes and other corporate actions, all drawn from the company’s public disclosures.
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AMREP Corporation (NYSE:AXR) reported a significant increase in net income for the 2023 fiscal third quarter, achieving $16,574,000 or $3.12 per diluted share, compared to $910,000 or $0.12 per diluted share the previous year. For the first nine months of 2023, net income reached $22,107,000 or $4.17 per diluted share, up from $5,873,000 or $0.80 per diluted share in 2022. Revenues were $9,117,000 for Q3 and $35,975,000 for the first nine months, showing slight growth over the previous year. Notably, the company recognized a $2,336,000 pension settlement expense and a tax benefit of $16,071,000.
AMREP Corporation (NYSE:AXR) reported a strong performance for the fiscal second quarter ended October 31, 2022, with a net income of $3,621,000 ($0.68 per diluted share), up from $3,326,000 ($0.45 per diluted share) in the prior year. For the first six months, net income rose to $5,533,000 ($1.04 per diluted share) compared to $4,963,000 ($0.67 per diluted share) in 2022. Revenues also showed growth, totaling $16,149,000 and $26,856,000 for the second quarter and six-month periods, respectively, versus $16,112,000 and $26,098,000 last year.
AMREP Corporation (AXR) reported a net income of $1,912,000, or $0.36 per diluted share, for its first fiscal quarter ended July 31, 2022, compared to $1,637,000, or $0.22, in the same period last year. Revenues increased to $11,232,000 from $10,507,000 year-over-year. The company maintains a strong position as a significant landholder and real estate developer in New Mexico, with financial details further available in their Form 10-Q.
AMREP Corporation (AXR) reported a significant increase in net income for the fiscal year ending April 30, 2022, totaling $15.86 million or $2.21 per diluted share, compared to $7.39 million or $0.95 per diluted share in the prior year. Revenues soared to $62.48 million, up from $40.07 million. Key contributors included $7.11 million from land sales and $8.44 million from building sales in multiple locations. The company's strong performance reflects its strategic real estate holdings and development activities in New Mexico.
AMREP Corporation (NYSE:AXR) reported a net income of $910,000, or $0.12 per diluted share, for Q3 2022, a decline from $2,093,000, or $0.28 per diluted share, in Q3 2021. However, YTD net income rose to $5,873,000, or $0.80 per diluted share, compared to $3,484,000, or $0.44 per diluted share, in the same period the previous year. Revenues for Q3 were $9,816,000, up from $7,864,000 in Q3 2021, and for the first nine months of 2022, revenues reached $36,559,000 versus $21,326,000 in 2021.
AMREP Corporation (AXR) announced strong financial results for its fiscal second quarter ended October 31, 2021, reporting a net income of $3,326,000 or $0.45 per diluted share, compared to $798,000 or $0.10 per diluted share in the previous year. For the first half of 2022, net income reached $4,963,000 or $0.67 per diluted share, up from $1,391,000 or $0.17 per diluted share in the same period of 2021. Revenues increased to $16,236,000 for the second quarter and $26,743,000 for the first six months, reflecting substantial year-over-year growth.
AMREP Corporation (NYSE:AXR) announced significant growth in its fiscal Q1 2022, reporting a net income of $1,637,000, or $0.22 per diluted share, a marked increase from $593,000, or $0.07 per diluted share in Q1 2021. Total revenues soared to $10,507,000 from $4,206,000 year-over-year. These results reflect AMREP's robust performance in land holdings and real estate development in New Mexico. Comprehensive financial details are available in the company’s 10-Q filings with the SEC.
AMREP Corporation (AXR) reported a significant turnaround for the fiscal year ending April 30, 2021, achieving net income of $7,392,000 or $0.95 per diluted share, compared to a net loss of $5,903,000 or $0.73 per share for the previous year. Revenues soared to $40,069,000, up from $18,783,000 in fiscal 2020. This performance showcases a robust recovery and growth in the real estate sector, positioning the company as a strong player in land development and homebuilding, particularly in New Mexico.