FRPH Q1 net income up 130% to $1.3M; new CEO, COO, CFO appointed

FRP HOLDINGS, INC.

2024-Q1 EPS reported $0.07 revenue$10,133,000

Net income $1.3M ($0.07 EPS) vs $565K ($0.03) YoY; 2-for-1 stock split adjusted.
Pro-rata NOI $8.53M (+22%); Multifamily NOI +92%, Industrial & Commercial NOI +47%.
Mining royalty NOI -12% to $2.76M; $289K overpayment deduction and weather impacts.
Entered two Florida JVs for industrial development; $191M capex share, targeting 6-7% NOI yield.
Appointed John D. Baker III CEO, David deVilliers III COO, Matt McNulty CFO; John D. Baker II remains Chairman.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FRP HOLDINGS, INC. reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 8, 2024, FRP Holdings, Inc. issued a press release announcing results of operations for the first quarter ended March 31, 2024.

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FRP HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0000844059-24-000029

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