Filing Flows › Amrep (AXR) › Q1 FY27
Amrep (AXR) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Sep 11, 2026
Amrep (AXR) reported revenue of $6.1M for the first quarter fiscal 2027 (Q1 FY27), -66% from a year earlier and -45% from the quarter before. Operating margin was -2.7%, net earnings $276K (4.6% of revenue).
Amrep, Q1 FY27: revenue $6.1M (-66% year over year), operating margin -2.7%, net earnings $276K, operating cash flow −$3.6M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.1M | -45% | -66% |
| Operating profit | −$163K | -108% | -103% |
| Net earnings | $276K | -78% | -94% |
| Operating cash flow | −$3.6M | -265% | -138% |
What changed
Revenue was $6.1M in Q1 FY27, down 66% year over year and down 45% from the previous quarter. Home sale was the largest line at 81% of revenue. Land sale lost $7.3M year over year (down 98%), 62% of the total change.
Operating costs exceeded revenue by $163K, an operating margin of -2.7%. Total costs fell 47% while revenue fell 66%. The fastest-growing cost line was General & admin (+30%). Net earnings were $276K, down 94% year over year. The effective tax rate was 3.2%. Non-operating items added $448K, 157% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.6M. Non-cash charges added back $78K of depreciation and $121K of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $4K exceeded it, leaving free cash flow of −$3.6M.
Questions
What was Amrep's revenue in the first quarter fiscal 2027?
Amrep (AXR) reported revenue of $6.1M for the first quarter fiscal 2027 (Q1 FY27), -66% from a year earlier and -45% from the quarter before.
Was Amrep profitable in the first quarter fiscal 2027?
Operating loss was $163K (-2.7% of revenue) and net earnings $276K.
Source: Amrep 10-Q on SEC EDGAR.