earnings
confidence high
sentiment positive
materiality 0.60
FRPH reports Q4 net income $0.30/share; announces 2-for-1 forward stock split
FRP HOLDINGS, INC.
- Q4 net income $2.88M ($0.30/sh), up from $2.76M ($0.29/sh) in Q4 2022; FY 2023 net income $5.30M ($0.56/sh) vs $4.57M ($0.48/sh).
- Industrial & Commercial revenue up 42.9% in Q4; pro-rata NOI up 24.8% for full year to $30.24M.
- Mining royalties revenue increased 17.3% in FY 2023 despite 0.76% decline in tons sold; operator price increases.
- Company announces 2-for-1 forward stock split; record date April 1, 2024, payment date April 12, 2024.
- Multifamily pro-rata NOI declined 16.3% in Q4 due to TIC interest sale; DC market softening noted.