AMREP Corporation reported net income of $4,692,000 or $0.87 per diluted share for the first quarter of fiscal 2026.
Revenues for the first quarter of 2026 were $17,851,000.
The company highlighted the variability in revenues, average selling prices, and gross margins due to specific transactions and property types.
Net Income Growth
Net income increased by $628,000 compared to the same period last year.
Revenue Decline
Revenues decreased from $19,091,000 in the first quarter of 2025 to $17,851,000 in 2026.
Business Focus
AMREP Corporation is a key land holder, real estate developer, and homebuilder in New Mexico.
- The financial results show a positive growth in net income despite a slight decline in revenues.
- The company's diversified business model contributes to its resilience in varying market conditions.
AMREP Corporation's financial performance demonstrates strategic resilience and adaptability in the real estate sector. Despite revenue fluctuations, the company's focus on land development and homebuilding remains robust.