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AMREP Corporation (symbol: AXR) is a dynamic player in the real estate industry, with a broad scope of activities encompassing land sales, leasing, and property investments. Headquartered in the United States, AMREP operates through two primary segments: Land Development and Homebuilding, generating the majority of its revenue from its land development efforts. The company engages in the acquisition, development, and sale of both developed and undeveloped lots to homebuilders, commercial users, and other entities.
AMREP has built a strong reputation for securing necessary approvals and developing high-quality properties that meet the stringent guidelines of its diverse clientele, including Fortune 500 companies. Beyond land development, the company's investments in commercial and investment properties further solidify its market position and drive its financial growth.
Kable Fulfillment, a subsidiary of AMREP, enhances the parent company's service offerings by providing superior quality, flexible, and cost-efficient fulfillment and marketing program solutions. Headquartered in Fairfield, Ohio, Kable has established long-standing relationships with clients of all sizes, delivering state-of-the-art fulfillment services and a variety of co-packaging solutions. These include automated shrink tunnels, overwrapping, skin packaging, and blister packaging, supported by 12 flexible assembly lines that cater to varying production demands.
The company's commitment to integrated, client-focused approaches is reflected in its continuous efforts to meet and exceed customer expectations. Recent achievements highlight the company's strategic partnerships and ongoing projects, positioning AMREP as a significant contributor to the real estate and fulfillment sectors.
AMREP Corporation's strategic approach, combined with its diversified service offerings, underscores its importance in the industry and its potential for future growth. Investors and stakeholders can rely on AMREP for consistent performance and innovative solutions that align with market demands.
AMREP (NYSE:AXR) reported strong financial results for its 2025 fiscal first quarter ended July 31, 2024. The company's net income surged to $4,064,000, or $0.76 per diluted share, compared to $1,346,000, or $0.25 per diluted share, in the same period last year. Revenues nearly doubled to $19,091,000 from $10,289,000 year-over-year.
As a major landholder and leading real estate developer in New Mexico, AMREP's performance can vary significantly between periods due to factors such as transaction timing and the type and location of properties sold. The company filed its Form 10-Q with the SEC, providing more detailed financial information.
AMREP (NYSE:AXR) reported net income of $6,690,000, or $1.25 per diluted share, for fiscal year 2024 ended April 30, 2024. This compares to net income of $21,790,000, or $4.11 per diluted share, for the previous year. Revenues increased to $51,369,000 in fiscal 2024 from $48,676,000 in fiscal 2023.
The 2024 results included $7,200,000 revenue from a property sale in Brighton, Colorado. The 2023 results had included a non-cash income tax benefit of $16,071,000 and a non-cash pre-tax pension settlement expense of $7,597,000. AMREP, through its subsidiaries, is a major landholder and real estate developer in New Mexico.
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.
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