安美瑞普 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACTOF 1934For the quarterly period endedJanuary 31, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACTOF 1934 (Exact Name of Registrant as Specified in its Charter) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 (the “Exchange Act”) during the preceding 12months (or for such shorter period that the registrantwas required to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smallerreporting company”, and “emerging growth company” in Rule12b-2 of the Exchange Act. Largeacceleratedfiler☐Non-accelerated filer☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ Number of Shares of Common Stock, par value $.10 per share, outstanding at March 10, 2026 – 5,305,199. AMREP CORPORATION AND SUBSIDIARIES INDEX PART I. FINANCIAL INFORMATIONPAGENO. Item 1.Financial StatementsCondensed Consolidated Balance Sheets January 31, 2026 (Unaudited) and April 30, 20252Condensed Consolidated Statements of Operations (Unaudited) Three and Nine MonthsEnded January 31, 2026 and 20253Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three and NineMonths Ended January 31, 2026 and 20254Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) Three and NineMonths Ended January 31, 2026 and 20255Condensed Consolidated Statements of Cash Flows (Unaudited) Nine Months Ended January31, 2026 and 20256Notes to Condensed Consolidated Financial Statements (Unaudited)7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations16Item 4.Controls and Procedures23PART II. OTHER INFORMATIONItem 5.Other Information24Item 6.Exhibits24SIGNATURE25EXHIBIT INDEX26 PARTI. FINANCIAL INFORMATION AMREP CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands, except share and per share amounts) January31,April30,20262025(Unaudited)ASSETSCash and cash equivalents$49,998$39,466Restricted cash496455Real estate inventory66,79866,750Investment assets, net16,59114,880Other assets3,1032,939Income taxes receivable, net—317Deferred income taxes, net6,9598,969TOTAL ASSETS$143,945$133,776 SHAREHOLDERS’ EQUITY:Common stock, $.10 par value; shares authorized – 20,000,000; shares issued –5,305,199 at January31,2026 and 5,287,449 at April30,2025531528Capital contributed in excess of par value33,78633,409Retained earnings105,06396,024TOTAL SHAREHOLDERS’ EQUITY139,380129,961TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$143,945$133,776 AMREP CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)Three and Nine Months Ended January 31, 2026 and 2025 (Amounts in thousands, except per share amounts) AMREP CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)Three and Nine Months Ended January 31, 2026 and 2025 (Amounts in thousands) The accompanying notes to unaudited condensed consolidated financial statements are an integral part of theseunaudited condensed consolidated financial statements. AMREP CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (UNAUDITED)Three and Nine Months Ended January 31, 2026 and 2025 (Amounts in thousands) AMREP CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)Nine Months Ended January 31, 2026 and 2025(Amounts in thousands) The accompanying notes to unaudited condensed consolidated financial statements are an integral part of theseunaudited condensed consolidated financial statements. AMREP CORPORATION AND SUBSIDIARIESNotesto Condensed Consolidated Financial Statements (Unaudited)Three and Nine Months Ended January 31, 2026 and 2025 SUMMARY OF SIGNIFICANT ACCOUNTING AND FINANCIAL REPORTING POLICIES Theaccompanying unaudited condensed consolidated financial statements have been prepared by AMREPCorporation (the “Company”) purs