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Exhibit 99.1 FOR : CONTACT : AMREP Corporation 850 West Chester Pike , Suite 205 Havertown , PA 19083 Adrienne M. Uleau Chief Financial Officer and Vice President ( 610 ) 487-0907 AMREP REPORTS FIRST QUARTER FISCAL 2027 RESULTS Havertown , Pennsylvania , September 11 , 2026 – AMREP Corporation ( NYSE : AXR ) today reported net income of $ 276,000 , or $ 0.05 per diluted share , for its 2027 fiscal first quarter ended July 31 , 2026 compared to net income of $ 4,692,000 , or $ 0.87 per diluted share , for the same period of the prior year . Revenues were $ 6,051,000 for the first quarter of 2027 and $ 17,851,000 for the first quarter of 2026 . More information about the Company's financial performance may be found in AMREP Corporation's financial statements on Form 10 - Q which have today been filed with the Securities and Exchange Commission and will be available on AMREP's website ( www.amrepcorp.com/sec-filings/ ) . As a result of many factors , including the nature and timing of specific transactions and the type and location of land or homes being sold , revenues , average selling prices and related gross margins from land sales or home sales can vary significantly from period to period and prior results are not necessarily a good indication of what may occur in future periods . AMREP Corporation , through its subsidiaries , is a major holder of land , leading developer of real estate and award - winning homebuilder in New Mexico . FINANCIAL HIGHLIGHTS Revenues Net income Income per share - basic Income per share - diluted Weighted average number of common shares outstanding – basic Weighted average number of common shares outstanding – diluted Three Months Ended July 31 , 2026 $ 6,051,000 $ 2025 17,851,000 SSS 276,000 $ 4,692,000 0.05 $ 0.05 $ 0.88 0.87 5,337,000 5,393,000 5,326,000 5,375,000