Amrep Q2 EPS $0.21 Down From $0.68 YoY, Sales $8.85M Down From $16.15M YoY
Portfolio Pulse from Benzinga Newsdesk
Amrep Corporation (NYSE:AXR) reported a significant decline in its fiscal Q2 earnings and sales compared to the same period last year. Earnings per share (EPS) fell by 69.12% to $0.21 from $0.68, while sales dropped by 45.17% to $8.85 million from $16.15 million.
December 11, 2023 | 9:54 pm
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Amrep's Q2 earnings report shows a substantial decrease in both EPS and sales compared to the previous year, indicating a potential negative impact on investor sentiment and stock price.
The reported decrease in both earnings and sales is significant and likely to be viewed negatively by investors. A drop in EPS of over 69% and a sales decline of over 45% year-over-year are strong indicators of underperformance, which typically leads to a negative short-term reaction in the stock market. The direct correlation between the reported financial metrics and the company's stock performance makes this news highly relevant and important for investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100