FRP Holdings Q1 net income $672K, mining royalty record; founder dies

FRP HOLDINGS, INC.

2022-Q1 EPS reported $0.07 revenue$8,707,000

Net income $672K ($0.07/diluted) vs $28.4M ($3.03) in prior year which included $51.1M gain on remeasurement.
Mining royalty Q1 revenue record $2.425M (+4.77% YoY); acquired 1,549-acre FL property for $11.6M with 22.5M tons sand reserves.
Stabilized JV segment NOI $3.137M (+104.5%) driven by Maren consolidation; first rent increases on renewals since Feb 2020.
Founder Edward L'Engle Baker died at age 87; served as chairman 1986-2015, inducted into Pit & Quarry Hall of Fame.

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