AMREP Corporation reported net income of $276,000, or $0.05 per diluted share, for its 2027 fiscal first quarter ended July 31, 2026, down from net income of $4,692,000, or $0.87 per diluted share, in the same period a year earlier. Revenues for the quarter were $6,051,000, compared with $17,851,000 in the first quarter of 2026. The company said its financial statements on Form 10-Q were filed today with the Securities and Exchange Commission and will be available on AMREP's website. AMREP noted that revenues, average selling prices and related gross margins from land sales or home sales can vary significantly from period to period due to factors including the nature and timing of specific transactions and the type and location of land or homes being sold, and that prior results are not necessarily a good indication of future performance. AMREP Corporation, through its subsidiaries, is a major holder of land, a leading developer of real estate and an award-winning homebuilder in New Mexico.
AMREP CorporationAMREP reported Q1 FY2027 net income of $276,000, down sharply from $4,692,000, with revenue falling to $6.05 million from $17.85 million.
