AMREP Corporation reports increased net income and revenue for Q2 fiscal 2025, reflecting significant growth compared to last year.
Quiver AI Summary
AMREP Corporation reported a significant increase in net income for the second quarter of fiscal 2025, with earnings reaching $4,042,000 ($0.75 per diluted share), compared to $1,108,000 ($0.21 per diluted share) in the same quarter of 2024. For the first half of fiscal 2025, net income was $8,106,000 ($1.51 per diluted share), up from $2,454,000 ($0.46 per diluted share) the previous year. Revenues also saw a substantial rise, totaling $11,906,000 for the second quarter and $30,997,000 for the first six months of 2025, compared to $8,854,000 and $19,143,000, respectively, in 2024. The company emphasizes that revenue and profit figures can vary due to factors related to land and home sales. More detailed financial information is available in AMREP's filed Form 10-Q and on their website.
Potential Positives
- Significant increase in net income for the fiscal second quarter, rising to $4,042,000 from $1,108,000 year-over-year.
- Robust growth in earnings per share, with diluted earnings per share increasing to $0.75 from $0.21 for the same quarter last year.
- Overall revenue growth, achieving $11,906,000 in Q2 2025 compared to $8,854,000 in Q2 2024, indicating a stronger sales performance.
- For the first six months of fiscal 2025, net income and revenues more than tripled compared to the same period in 2024, reflecting improved financial health and operational success.
Potential Negatives
- Despite significant increases in net income and revenue, the press release emphasizes that future financial performance could be highly variable, giving a cautious outlook on the stability of earnings.
- The mention of varying revenues and gross margins from land sales or home sales may raise concerns among investors about the predictability and sustainability of the company's financial results.
- The lack of detailed explanations regarding the nature of the transactions and factors influencing profits may lead to skepticism about the underlying quality of the company's recent financial improvements.
FAQ
What are AMREP Corporation's latest financial results?
AMREP Corporation reported net income of $4,042,000 for Q2 2025, up from $1,108,000 in Q2 2024.
How much revenue did AMREP generate in the latest quarter?
AMREP generated $11,906,000 in revenue for the fiscal second quarter ended October 31, 2024.
What caused the increase in AMREP's net income?
The increase in net income is attributed to various factors, including transaction timing and property sales.
Where can I find AMREP's financial statements?
AMREP's financial statements can be found on their website under SEC filings at www.amrepcorp.com/sec-filings/.
What is AMREP Corporation known for?
AMREP Corporation is a major landholder, leading real estate developer, and award-winning homebuilder in New Mexico.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AXR Insider Trading Activity
$AXR insiders have traded $AXR stock on the open market 14 times in the past 6 months. Of those trades, 14 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $AXR stock by insiders over the last 6 months:
- JAMES H DAHL has traded it 14 times. They made 14 purchases, buying 46,146 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$AXR Hedge Fund Activity
We have seen 18 institutional investors add shares of $AXR stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CERITY PARTNERS LLC added 155,755 shares (+137.2%) to their portfolio in Q3 2024
- GATE CITY CAPITAL MANAGEMENT, LLC removed 118,207 shares (-48.1%) from their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 15,586 shares (+12.6%) to their portfolio in Q3 2024
- O'SHAUGHNESSY ASSET MANAGEMENT, LLC added 13,302 shares (+inf%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC added 11,286 shares (+inf%) to their portfolio in Q3 2024
- DIMENSIONAL FUND ADVISORS LP added 10,606 shares (+6.2%) to their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 9,895 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HAVERTOWN, Pa., Dec. 13, 2024 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $4,042,000, or $0.75 per diluted share, for its 2025 fiscal second quarter ended October 31, 2024 compared to net income of $1,108,000, or $0.21 per diluted share, for the same period of the prior year. For the first six months of 2025, AMREP had net income of $8,106,000, or $1.51 per diluted share, compared to net income of $2,454,000, or $0.46 per diluted share, for the same period of 2024. Revenues were $11,906,000 and $30,997,000 for the second quarter and first six months of 2025 and $8,854,000 and $19,143,000 for the second quarter and first six months of 2024.
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 |
