sur FRP Holdings, Inc. (NASDAQ:FRPH)
FRP Holdings Reports Third Quarter Fiscal 2025 Results
FRP Holdings, Inc. (NASDAQ: FRPH), based in Jacksonville, reported financial results for the quarter ending September 30, 2025. The company saw a 51% decline in net income to $0.7 million, attributed mainly to acquisition expenses for Altman Logistics. Adjusted net income, excluding this, rose by $0.3 million.
Revenue showed minor growth at $10.8 million. However, pro rata NOI dropped by 16%, primarily due to a $1.9 million one-time royalty payment in 2024. Excluding this, there was a slight increase. Segment-wise, the Industrial and Commercial NOI decreased by 25% due to vacancies, and the Mining Royalty segment fell by 26% for similar reasons.
The company entered a joint venture with Strategic Real Estate Partners to develop industrial space in Florida and finalized the acquisition of Altman Logistics after the quarter ended.
R. E.
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