FRP Holdings Q3 net income down 59% due to acquisition costs

FRP Holdings

05/11/2025 22:36

Overview

FRP Holdings Q3 net income down 59% due to Altman Logistics acquisition expenses

Adjusted net income for Q3 up $0.3 mln excluding Altman acquisition expenses

Company enters joint venture to develop warehouses in Florida with SREP

Result Drivers

ACQUISITION EXPENSES - Net income decreased largely due to expenses from Altman Logistics acquisition

MINING ROYALTIES - Higher mining royalties contributed positively to revenue

VACANCIES IMPACT - Industrial and Commercial segment NOI decreased due to tenant vacancies and lease expirations

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Lease Revenue
$7.09 mln
Q3 Net Income
$565,000
Q3 Operating Expenses
$3.30 mln
Q3 Operating Profit
$1.36 mln
Q3 Pretax Profit
$768,000


Press Release: ID:nACSPtgVSa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)