---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-083890"
form_type: "8-K"
ticker: "AXR"
cik: "0000006207"
company_name: "AMREP CORP."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T03:33:07.293666+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AMREP fiscal 2023 net income $21.8M ($4.11 diluted EPS) vs $15.9M ($2.21) prior year; revenue down 17%

## Summary
- Revenue $48.7M vs $58.9M in FY2022; decline driven by absence of prior-year large land and building sales.
- Net income includes $14.1M non-cash tax benefit from worthless stock deduction and $7.6M pension settlement expense.
- Diluted EPS $4.11, up 86% from $2.21, aided by one-time tax benefit and lower share count (5.3M vs 7.2M).
- Basic weighted-average shares outstanding fell to 5.28M from 7.17M due to share repurchases or other capital actions.

## SEC filing metadata
- accession: 0001104659-23-083890
- form_type: 8-K
- ticker: AXR
- cik: 0000006207
- company_name: AMREP CORP.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/6207/000110465923083890/0001104659-23-083890-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/6207/000110465923083890/tm2321898d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-083890
- JSON: https://secwatch.observer/filing/0001104659-23-083890.json
- Plain text: https://secwatch.observer/filing/0001104659-23-083890.txt

## Key facts
- Earnings Releases
  AMREP CORP. reported fiscal year ended April 30, 2023 results: revenue $48,676,000, net income $21,790,000, EPS $4.11 per diluted share.
  - Period: fiscal year ended April 30, 2023
  - Revenue: $48,676,000
  - Net income: $21,790,000
  - EPS: $4.11 per diluted share
  - Result: reported results
  source text: AMREP Corporation (NYSE:AXR) today reported net income of $21,790,000, or $4.11 per diluted share, for its 2023 fiscal year ended April 30, 2023 compared to net income of $15,862,000, or $2.21 per diluted share, for the same period of the prior year. Revenues were $48,676,000 for fiscal 2023 and $58,926,000 for fiscal 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/6207/000110465923083890/0001104659-23-083890-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.