Filing Flows › Amrep (AXR) › Q2 FY26
Amrep (AXR) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Dec 12, 2025
Amrep (AXR) reported revenue of $9.4M for the second quarter fiscal 2026 (Q2 FY26), -21% from a year earlier and -47% from the quarter before. Operating margin was 11.9%, net earnings $1.2M (12.8% of revenue).
Amrep, Q2 FY26: revenue $9.4M (-21% year over year), operating margin 11.9%, net earnings $1.2M, operating cash flow −$4.3M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.4M | -47% | -21% |
| Operating profit | $1.1M | -82% | -64% |
| Net earnings | $1.2M | -74% | -70% |
| Operating cash flow | −$4.3M | -145% | — |
What changed
Revenue was $9.4M in Q2 FY26, down 21% year over year and down 47% from the previous quarter. Home sale was the largest line at 82% of revenue. Land sale lost $5.0M year over year (down 86%), 201% of the total change.
Operating profit was $1.1M, a 11.9% margin (down 14.5 points year over year). Total costs fell 6% while revenue fell 21%. Net earnings were $1.2M, down 70% year over year. The effective tax rate was 24.0%. Non-operating items added $459K, 29% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$4.3M. Non-cash charges added back $82K of depreciation and $119K of share-based compensation. Working capital and other items used $5.7M. Capital expenditures of $60K exceeded it, leaving free cash flow of −$4.3M.
Questions
What was Amrep's revenue in the second quarter fiscal 2026?
Amrep (AXR) reported revenue of $9.4M for the second quarter fiscal 2026 (Q2 FY26), -21% from a year earlier and -47% from the quarter before.
Was Amrep profitable in the second quarter fiscal 2026?
Operating profit was $1.1M (11.9% of revenue) and net earnings $1.2M.
Source: Amrep 10-Q on SEC EDGAR.