---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-032436"
form_type: "8-K"
ticker: "AXR"
cik: "0000006207"
company_name: "AMREP CORP."
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T00:53:03.808772+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AMREP Q3 FY2024 net income $92K ($0.02/dil) vs $16.6M ($3.12) YoY

## Summary
- Q3 revenue $12.7M, up 39% YoY from $9.1M; net income plunged 99% due to prior-year $16.1M tax benefit.
- Nine-month net income $2.5M ($0.48/dil) vs $22.1M ($4.17/dil); revenue $31.8M vs $36.0M.
- Prior-year Q3 included $16.1M non-cash tax benefit from worthless stock deduction and $2.3M pension settlement expense.
- Company remains a land holder and homebuilder in New Mexico; 10-Q filed with SEC.

## SEC filing metadata
- accession: 0001104659-24-032436
- form_type: 8-K
- ticker: AXR
- cik: 0000006207
- company_name: AMREP CORP.
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/6207/000110465924032436/0001104659-24-032436-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/6207/000110465924032436/tm247786d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-032436
- JSON: https://secwatch.observer/filing/0001104659-24-032436.json
- Plain text: https://secwatch.observer/filing/0001104659-24-032436.txt

## Key facts
- Earnings Releases
  AMREP CORP. reported the three and nine month periods ended January 31, 2024 results: revenue $12,689,000 and $31,833,000, net income $92,000 and $2,546,000, EPS $0.02 per diluted share and $0.48 per diluted share.
  - Period: the three and nine month periods ended January 31, 2024
  - Revenue: $12,689,000 and $31,833,000
  - Net income: $92,000 and $2,546,000
  - EPS: $0.02 per diluted share and $0.48 per diluted share
  - Result: reported results
  source text: AMREP had net income of $2,546,000, or $0.48 per diluted share, compared to net income of $22,107,000, or $4.17 per diluted share, for the same period of 2023. Revenues were $12,689,000 and $31,833,000 for the third quarter and first nine months of 2024 and $9,117,000 and $35,975,000 for the third quarter and first nine months of 2023. During the third quarter of
  evidence_url: https://www.sec.gov/Archives/edgar/data/6207/000110465924032436/0001104659-24-032436-index.htm

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