AMREP reports Q3 net income $16.6M ($3.12/diluted) vs $0.9M YoY on $16.1M tax benefit

AMREP CORP.

2023-Q3 EPS reported $4.17 revenue$35,975,000

Q3 net income $16.6M, diluted EPS $3.12; prior year $0.9M, $0.12.
Revenue $9.12M vs $9.39M YoY (roughly flat).
Non-cash income tax benefit of $16.1M from worthless stock deduction boosted net income.
Recognized $2.34M non-cash pension settlement expense from lump-sum payouts.
Weighted average diluted shares fell to 5.31M from 7.39M (share buybacks).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMREP CORP. reported financial results for three and nine month periods ended January 31, 2023.

Period: three and nine month periods ended January 31, 2023
Result: reported results

Exact text from the filing

On March 13, 2023, AMREP Corporation issued a press release that reported its results of operations for the three and nine month periods ended January 31, 2023.

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AMREP CORP. filing history →

Source: SEC EDGAR

accession 0001104659-23-031802

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