AMREP CORP. Files 10-Q for Period Ending July 31, 2024
Ticker: AXR · Form: 10-Q · Filed: Sep 13, 2024 · CIK: 6207
| Field | Detail |
|---|---|
| Company | Amrep CORP. (AXR) |
| Form Type | 10-Q |
| Filed Date | Sep 13, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, real-estate, financials
TL;DR
AMREP CORP. 10-Q filed. Financials for Q ending 7/31/24 out.
AI Summary
AMREP CORP. filed its 10-Q for the period ending July 31, 2024. The filing details financial information for the company, which operates in land subdivision and development. Specific financial figures and operational details are presented within the report.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational status of AMREP CORP., crucial for understanding the company's current health and future prospects in the real estate sector.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures for AMREP CORP.
Key Numbers
- 2024-07-31 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-09-13 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- AMREP CORP. (company) — Filer of the 10-Q
- 20240731 (date) — End of the reporting period
- 20240913 (date) — Filing date
- HAVERTOWN, PA (location) — Company's business and mailing address
FAQ
What is the primary business of AMREP CORP.?
AMREP CORP. is primarily involved in land subdivision and development, as indicated by its Standard Industrial Classification code [6552].
What is the fiscal year end for AMREP CORP.?
The company's fiscal year ends on April 30th (0430).
When was AMREP CORP. previously known as AMERICAN REALTY & PETROLEUM CORP?
The company changed its name from AMERICAN REALTY & PETROLEUM CORP on October 19, 1967 (19671019).
What is the SEC file number for AMREP CORP.?
The SEC file number for AMREP CORP. is 001-04702.
What is the business phone number listed for AMREP CORP.?
The business phone number listed is 610-487-0905.
Filing Stats: 4,607 words · 18 min read · ~15 pages · Grade level 18.9 · Accepted 2024-09-13 16:30:37
Key Financial Figures
- $0.10 — hange on which registered Common Stock $0.10 par value AXR New York Stock Exchan
Filing Documents
- axr-20240731x10q.htm (10-Q) — 1080KB
- axr-20240731xex31d1.htm (EX-31.1) — 16KB
- axr-20240731xex31d2.htm (EX-31.2) — 16KB
- axr-20240731xex32.htm (EX-32) — 11KB
- 0001410578-24-001588.txt ( ) — 4812KB
- axr-20240731.xsd (EX-101.SCH) — 42KB
- axr-20240731_cal.xml (EX-101.CAL) — 40KB
- axr-20240731_def.xml (EX-101.DEF) — 119KB
- axr-20240731_lab.xml (EX-101.LAB) — 239KB
- axr-20240731_pre.xml (EX-101.PRE) — 209KB
- axr-20240731x10q_htm.xml (XML) — 783KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION PAGE NO. Item 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets July 31, 2024 (Unaudited) and April 30, 2024 2 Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended July 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) Three Months Ended July 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) Three Months Ended July 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 4.
Controls and Procedures
Controls and Procedures 21
OTHER INFORMATION
PART II. OTHER INFORMATION Item 6. Exhibits 22 SIGNATURE 23 EXHIBIT INDEX 24 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements AMREP CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share and per share amounts) July 31, April 30, 2024 2024 (Unaudited) ASSETS Cash and cash equivalents $ 40,350 $ 29,694 Restricted cash 547 547 Real estate inventory 60,259 65,983 Investment assets, net 13,039 12,551 Other assets 2,752 2,990 Income taxes receivable — 27 Deferred income taxes, net 10,058 11,038 TOTAL ASSETS $ 127,005 $ 122,830 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES: Accounts payable and accrued expenses $ 4,441 $ 4,745 Notes payable 34 35 Income taxes payable 359 — TOTAL LIABILITIES 4,834 4,780 SHAREHOLDERS' EQUITY: Common stock, $ .10 par value; shares authorized – 20,000,000 ; shares issued – 5,287,449 at July 31, 2024 and 5,271,309 at April 30, 2024 526 526 Capital contributed in excess of par value 33,043 32,986 Retained earnings 87,372 83,308 Accumulated other comprehensive income, net 1,230 1,230 TOTAL SHAREHOLDERS' EQUITY 122,171 118,050 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 127,005 $ 122,830 The accompanying notes to unaudited condensed consolidated financial statements are an integral part of these unaudited condensed consolidated financial statements. 2 Table of Contents AMREP CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended July 31, 2024 and 2023 (Amounts in thousands, except per share amounts) Three Months Ended July 31, 2024 2023 REVENUES: Land sale revenues $ 9,349 $ 6,658 Home sale revenues 8,992 3,402 Other revenues 750 229 Total revenues 19,091 10,289 COSTS AND EXPENSES: Land sale cost of revenues, net 4,909 4,281 Home sale cost of revenues 7,245 2,391 Other cost of revenues 314 19 General and administrative expenses 1,631 1,575 Total costs and expenses 1