AMREP Corp Earnings Jump 339% to $3.1M in Q3 FY2026 on Revenue Surge

AMREP Corp posted net income of $3.1 million for the three months ended January 31, 2026, a 339% increase from $717,000 in the year-ago quarter. The Oklahoma-based real estate development and land sales company reported diluted earnings per share of $0.58, compared with $0.13 in the prior-year period. Read more earnings reports.

Total revenue for the third quarter of fiscal 2026 reached $14.6 million, up 94% from $7.5 million in the same quarter of fiscal 2025. Operating income climbed to $3.0 million from $432,000, a nearly sevenfold increase.

For the nine months ended January 31, 2026, AMREP reported net income of $9.0 million on revenue of $41.8 million, compared with net income of $8.8 million on revenue of $38.5 million for the first nine months of fiscal 2025. Nine-month diluted earnings per share rose to $1.68 from $1.64.

The company generated $10.7 million in cash from operations during the nine-month period, up 47% from $7.3 million in the prior-year period. Cash and cash equivalents stood at $50.0 million as of January 31, 2026, compared with $39.5 million at the end of fiscal 2025 on April 30, 2025.

Total assets increased to $143.9 million from $133.8 million over the same period. Stockholders' equity rose to $139.4 million from $130.0 million. The company reported total liabilities of $4.6 million, with long-term debt of just $21,000.

AMREP had 5.3 million shares outstanding as of January 31, 2026, up slightly from 5.3 million at the end of the prior fiscal year. The company carries no accounts receivable on its balance sheet.

Financial Summary

Balance Sheet Highlights