AMREP CORP. Files Q2 2024 10-Q
Ticker: AXR · Form: 10-Q · Filed: Dec 13, 2024 · CIK: 6207
| Field | Detail |
|---|---|
| Company | Amrep CORP. (AXR) |
| Form Type | 10-Q |
| Filed Date | Dec 13, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, real estate, land development
TL;DR
**AMREP CORP. Q2 2025 10-Q FILED.** Land developer reports financials.
AI Summary
AMREP CORP. filed its 10-Q for the period ending October 31, 2024. The filing details financial information for the company, which operates in land subdivision and development. Key financial data and operational details are presented for the reporting period.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational status of AMREP CORP., a land developer, for the second quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.
Key Numbers
- Q2 2025 — Fiscal Quarter (Reporting period for the 10-Q filing)
Key Players & Entities
- AMREP CORP. (company) — Filer of the 10-Q
- October 31, 2024 (date) — End of the reporting period
- 20241213 (date) — Filing date
- 0000006207 (company) — Central Index Key for AMREP CORP.
FAQ
What is the primary business of AMREP CORP.?
AMREP CORP. is primarily involved in land subdividers and developers, as indicated by its Standard Industrial Classification code [6552].
What is the fiscal year end for AMREP CORP.?
AMREP CORP.'s fiscal year ends on April 30th, as stated in the filing.
When was the current 10-Q filing submitted to the SEC?
The 10-Q filing was submitted on December 13, 2024.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending October 31, 2024.
What is the company's SEC file number?
The SEC file number for AMREP CORP. is 001-04702.
Filing Stats: 4,657 words · 19 min read · ~16 pages · Grade level 19.3 · Accepted 2024-12-13 16:31:39
Key Financial Figures
- $0.10 — hange on which registered Common Stock $0.10 par value AXR New York Stock Exchan
Filing Documents
- axr-20241031x10q.htm (10-Q) — 1579KB
- axr-20241031xex10d1.htm (EX-10.1) — 55KB
- axr-20241031xex31d1.htm (EX-31.1) — 13KB
- axr-20241031xex31d2.htm (EX-31.2) — 17KB
- axr-20241031xex32.htm (EX-32) — 11KB
- 0001410578-24-002088.txt ( ) — 6131KB
- axr-20241031.xsd (EX-101.SCH) — 44KB
- axr-20241031_cal.xml (EX-101.CAL) — 44KB
- axr-20241031_def.xml (EX-101.DEF) — 119KB
- axr-20241031_lab.xml (EX-101.LAB) — 248KB
- axr-20241031_pre.xml (EX-101.PRE) — 214KB
- axr-20241031x10q_htm.xml (XML) — 1160KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION PAGE NO. Item 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets October 31, 2024 (Unaudited) and April 30, 2024 2 Condensed Consolidated Statements of Operations (Unaudited) Three and Six Months Ended October 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three and Six Months Ended October 31, 2024 and 2023 4 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) Three and Six Months Ended October 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended October 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 16 Item 4.
Controls and Procedures
Controls and Procedures 25
OTHER INFORMATION
PART II. OTHER INFORMATION Item 6. Exhibits 26 SIGNATURE 27 EXHIBIT INDEX 28 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) October 31, April 30, 2024 2024 (Unaudited) ASSETS Cash and cash equivalents $ 40,080 $ 29,694 Restricted cash 547 547 Real estate inventory 63,354 65,983 Investment assets, net 12,972 12,551 Other assets 2,761 2,990 Income taxes receivable — 27 Deferred income taxes, net 9,367 11,038 TOTAL ASSETS $ 129,081 $ 122,830 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES: Accounts payable and accrued expenses $ 3,410 $ 4,745 Notes payable 32 35 Income taxes payable 563 — TOTAL LIABILITIES 4,005 4,780 Commitments and Contingencies (Note 11) SHAREHOLDERS' EQUITY: Common stock, $ .10 par value; shares authorized – 20,000,000 ; shares issued – 5,287,449 at October 31, 2024 and 5,271,309 at April 30, 2024 527 526 Capital contributed in excess of par value 33,135 32,986 Retained earnings 91,414 83,308 Accumulated other comprehensive income, net — 1,230 TOTAL SHAREHOLDERS' EQUITY 125,076 118,050 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 129,081 $ 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 and Six Months Ended October 31, 2024 and 2023 (Amounts in thousands, except per share amounts) Three Months ended October 31, Six Months ended October 31, 2024 2023 2024 2023 REVENUES: Land sale revenues $ 5,857 $ 4,884 $ 15,206 $ 11,542 Home sale revenues 5,334 3,521 14,326 6,923 Other revenues 715 449 1,465 678 Total revenues 11,906 8,854 30,997 19,143 COSTS AND EXPENSES: Land sale cost of revenues, net 2,326