FRP Holdings Q2 net income drops to $82K ($0.01/sh) from $4.1M; mining royalty revenue hits record

FRP HOLDINGS, INC.

2021-Q2 EPS reported $3.03 revenue$14,348,000

Q2 net income attributable $82K vs $4.1M YoY; EPS $0.01 vs $0.43; six-month net income $28.5M includes $51.1M Maren remeasurement gain.
Mining royalty segment revenue $2.63M (+9.7% YoY) – record for any Q2 and first six months in segment history.
Stabilized JV segment NOI up 83.6% to $3.04M, driven by Maren consolidation; Dock 79 avg occupancy 95.7%.
Maren 94.7% leased/93.9% occupied; Dock 79 occupancy above 94% for third consecutive quarter.
Refinanced $180M combined loan for Dock 79 and Maren at 3.03%, down from 4.125%, with 12-year principal deferral.

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