AMREP FY24 EPS $1.25 Vs $4.11 YoY; Revenue $51.369M Vs $48.676M YoY
Portfolio Pulse from Benzinga Newsdesk
AMREP Corporation (NYSE:AXR) reported a significant drop in net income for FY24, with EPS of $1.25 compared to $4.11 YoY. Revenue increased slightly to $51.369M from $48.676M YoY. The previous year's results included a substantial non-cash income tax benefit and pension settlement expenses.
July 23, 2024 | 8:43 pm
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AMREP Corporation (NYSE:AXR) reported a significant decline in net income for FY24, with EPS dropping to $1.25 from $4.11 YoY. Revenue saw a slight increase to $51.369M from $48.676M. The previous year's results were bolstered by a non-cash income tax benefit and pension settlement expenses.
The significant drop in EPS from $4.11 to $1.25 is likely to negatively impact investor sentiment in the short term, despite the slight increase in revenue. The previous year's results were positively influenced by non-cash benefits, which are not present in the current year.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100