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AMREP Corporation (AXR) reported a 10.1% increase in its shares since its earnings announcement for the quarter ending July 31, 2025. In contrast, the S&P 500 Index gained 1.6% in the same timeframe. For Q1 of fiscal 2026, AMREP’s revenues dropped 6.5% to $17.9 million from $19.1 million a year prior, while net income rose 15.5% to $4.7 million, with diluted earnings per share at $0.87.
Home sale revenues increased 6.4% year over year to $9.6 million with 22 homes sold, while land sale revenues fell 19.8% to $7.5 million. During the quarter, AMREP sold 495 acres, significantly up from 30 acres in the previous year, although revenues declined due to a heavier mix of lower-priced undeveloped lots. The company’s cash position improved to $49.4 million, up from $39.9 million at the end of April 2025.
AMREP has a backlog of 24 homes under contract, estimated to bring in approximately $11.5 million in future revenues. In August, the company amended its credit facility, increasing its maximum borrowing capacity by $750,000 to $6.5 million to enhance financial flexibility.
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