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AMREP fiscal first-quarter revenue falls to $6.05 million as net income drops to $276,000
AMREP (NYSE: AXR) posted Q1 FY2027 revenues of $6,051,000 versus $17,851,000 and net income of $276,000 versus $4,692,000 for the quarter ended July 31, 2026.
TickerGrove Newsroom · Published · Event · AMREP Corporation Form 8-K — FY2027 Q1 results
Sources
Verified facts from AMREP Corporation Form 8-K AccNo 0001104659-26-107091, Items 2.02, 5.02, 5.07 and 9.01 with Exhibit 99.1. Date of Report / earliest event September 10, 2026; filed September 11, 2026; CIK 0000006207; trading symbol AXR (NYSE). Fiscal 2027 first quarter ended July 31, 2026 (comparative quarter ended July 31, 2025): revenues $6,051,000 versus $17,851,000; net income $276,000 versus $4,692,000; basic EPS $0.05 versus $0.88; diluted EPS $0.05 versus $0.87; weighted average shares outstanding basic 5,337,000 versus 5,326,000; diluted 5,393,000 versus 5,375,000. Exhibit 99.1 notes that revenues, average selling prices and gross margins from land or home sales can vary significantly period to period and that prior results are not necessarily indicative of future periods. Item 5.02: shareholders approved the AMREP Corporation 2026 Equity Compensation Plan at the September 10, 2026 annual meeting; effective September 20, 2026; terminates September 19, 2036 (Board may terminate earlier). No share-price direction, consensus beat/miss, guidance, home closings, acres sold, ASP dollars, segment P&L, or peer comps are stated here.
Facts are as of the September 11, 2026 Exhibit 99.1 earnings release for the fiscal 2027 first quarter ended July 31, 2026 (Form 8-K filed September 11, 2026; Date of Report September 10, 2026).
AMREP Corporation (NYSE: AXR) reported fiscal 2027 first-quarter results for the quarter ended July 31, 2026. Revenue fell to $6,051,000 from $17,851,000, while net income declined to $276,000 from $4,692,000. Basic earnings per share were $0.05 versus $0.88, and diluted earnings per share were $0.05 versus $0.87. For readers following the New Mexico land developer and homebuilder, the quarter shows a much smaller profit alongside substantially lower revenue. Overall, revenues $6,051,000 versus $17,851,000.
First-quarter results
AMREP remained profitable, but its fiscal 2027 opening quarter produced substantially less revenue and net income than the comparable quarter ended July 31, 2025. Revenues $6,051,000 versus $17,851,000, and net income declined to $276,000 from $4,692,000. Basic earnings per share were $0.05 versus $0.88; diluted earnings per share were $0.05 versus $0.87. The company describes itself as a major holder of land, real estate developer and homebuilder in New Mexico.
Period-to-period variability
AMREP cautioned that revenues, average selling prices and gross margins from land or home sales can vary significantly from period to period, and that prior results are not necessarily indicative of future periods. That caveat matters when interpreting the steep decline: one quarter's comparison does not establish the course of future results.
Equity plan and annual meeting
At the September 10, 2026 annual meeting, shareholders approved the AMREP Corporation 2026 Equity Compensation Plan. The plan takes effect September 20, 2026 and terminates September 19, 2036, unless the board terminates it earlier, according to Item 5.02 of the Form 8-K.
Filing path
AMREP filed Form 8-K AccNo 0001104659-26-107091 on September 11, 2026, with September 10, 2026 as its Date of Report. The filing covers Items 2.02, 5.02, 5.07 and 9.01. Its September 11 earnings release appears as Exhibit 99.1 and supplies the quarterly financial figures reported here.
What remains to be confirmed
This package does not invent share-price direction, consensus estimates, guidance ranges, peer comps, home closings, acres sold, ASP dollars, or segment P&L. Period-to-period variability language is attributed to Exhibit 99.1 only.
Document trail
Sources & evidence
Primary documents used for this piece.
AMREP Corporation via SEC EDGAR
AMREP Exhibit 99.1 — FY2027 Q1 results (AccNo 0001104659-26-107091)
Exhibit 99.1 · 2026-09-11
U.S. Securities and Exchange Commission (EDGAR)
AMREP Form 8-K filing index — AccNo 0001104659-26-107091
SEC Form 8-K index · 2026-09-11
AMREP Corporation via SEC EDGAR
AMREP Form 8-K — FY2027 Q1 results (AccNo 0001104659-26-107091)
SEC Form 8-K · 2026-09-11
Visual brief
Verified figures
Sources & evidenceAMREP Q1 FY2027 revenues
$6,051,000
USD
Quarter ended July 31, 2026; AccNo 0001104659-26-107091
AMREP Corporation via SEC EDGARAMREP Exhibit 99.1 — FY2027 Q1 results (AccNo 0001104659-26-107091)Exhibit 99.1 · 09-11-2026AMREP Q1 FY2027 net income
$276,000
USD
Quarter ended July 31, 2026; AccNo 0001104659-26-107091
AMREP Corporation via SEC EDGARAMREP Exhibit 99.1 — FY2027 Q1 results (AccNo 0001104659-26-107091)Exhibit 99.1 · 09-11-2026USD per share
$0.05
AMREP Q1 FY2027 basic EPS
Quarter ended July 31, 2026; AccNo 0001104659-26-107091
AMREP Corporation via SEC EDGARAMREP Exhibit 99.1 — FY2027 Q1 results (AccNo 0001104659-26-107091)Exhibit 99.1 · 09-11-2026
Corrections
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