AXR fiscal 2026 revenue reaches $52.8 million as AMREP net income retreats from prior-year high
Revenue of $52,847,000 for the fiscal year ended April 30, 2026 marks a gain for AMREP Corporation (NYSE: AXR) over the $49,694,000 posted in fiscal 2025. Net income, though, slipped to $10,288,000, or $1.91 per diluted share, from $12,716,000, or $2.37 per diluted share, the year before. The full financial statements are in the Form 10-K filed with the SEC on July 24, 2026.
Key takeaways
- AMREP Corporation (NYSE: AXR) reported fiscal 2026 revenue of $52,847,000 for the year ended April 30, 2026, up from $49,694,000 in fiscal 2025.
- Net income fell to $10,288,000, or $1.91 per diluted share, from $12,716,000, or $2.37 per diluted share, the prior year.
- AMREP attributes period-to-period swings in revenue, average selling prices, and gross margins to which specific land and home transactions closed and the type and location involved, making this a mix story rather than a volume story.
- Fiscal 2026 basic EPS was $1.93 on 5,337,000 weighted average shares, with diluted EPS of $1.91 on 5,393,000 shares, and the share count barely changed year over year.
- AMREP filed its complete financial statements in a Form 10-K with the SEC on July 24, 2026.
Revenue of $52,847,000 for the fiscal year ended April 30, 2026 marks a gain for AMREP Corporation (NYSE: AXR) over the $49,694,000 posted in fiscal 2025. Net income, though, slipped to $10,288,000, or $1.91 per diluted share, from $12,716,000, or $2.37 per diluted share, the year before. The full financial statements are in the Form 10-K filed with the SEC on July 24, 2026.
The land book
AMREP holds, develops, and builds homes on land in New Mexico, managed from its Havertown, Pennsylvania headquarters. The top-line gain arrived while the bottom line contracted, and the company's filing explains why in plain terms: revenues, average selling prices, and gross margins from land and home sales can shift significantly by period, driven by which specific transactions closed and the type and location of the land or homes involved.
That is a mix story, not a simple volume story. A higher proportion of lower-margin parcels or homes in a given year can lift revenue while compressing net income. AMREP does not provide segment-level guidance in this release, so the precise driver of the year-over-year margin shift is not attributed beyond that characterization.
The per-share print
For fiscal 2026, basic earnings per share came to $1.93 on a weighted average of 5,337,000 shares outstanding. Diluted EPS of $1.91 reflects a diluted share count of 5,393,000. In fiscal 2025, the comparable figures were $2.39 basic and $2.37 diluted, on weighted average counts of 5,318,000 and 5,369,000 respectively.
The share count barely moved year over year. The EPS compression tracks the net income decline directly, with little dilution effect to account for.
What to watch
The Form 10-K filed July 24 with the SEC carries AMREP's complete financial statements, including balance sheet details not included in Friday's earnings release. Chief Financial Officer Adrienne M. Uleau is the named investor contact at (610) 487-0907. The filing is available through AMREP's SEC filings page at amrepcorp.com; that document is the next read for anyone working the AXR setup.
Filed by the macro desk of MarketPR on July 25, 2026. Source: sec.gov. Indicative figures are not investment advice.