FRP Holdings Q4 net income down 41.7% YoY to $1.68M; full-year net income up 20.4% to $6.39M

FRP HOLDINGS, INC.

Q4 2024 net income $1.68M ($0.09/sh) vs $2.88M ($0.15/sh) in Q4 2023, down 41.7%.
Full-year 2024 net income $6.39M ($0.34/sh) vs $5.30M ($0.28/sh) in 2023, up 20.4%.
Pro rata NOI for 2024 up 26% to $38.1M; management expects 2025 NOI flat to slightly lower.
Multifamily segment pro rata NOI up 34% in 2024, driven by lease-up of three projects.
Mining royalty segment benefited from $1.9M one-time minimum royalty payment straight-lined over 20 years.

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