---
schema_version: "secwatch.filing_event.v1"
accession: "0000844059-25-000062"
form_type: "8-K"
ticker: "FRPH"
cik: "0000844059"
company_name: "FRP HOLDINGS, INC."
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:29:01.353565+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FRP Holdings Q3 net income down 51%; Altman acquisition adds $1.3M expense

## Summary
- Net income $662K ($0.03 EPS) vs $1.36M ($0.07 EPS) in Q3 2024, hit by $1.3M Altman acquisition costs.
- Pro rata NOI $9.5M, down 16% YoY, but up $0.1M excluding non-recurring $1.9M minimum royalty in prior year.
- Multifamily NOI fell 3% on higher uncollectable revenue; Industrial & Commercial NOI dropped 25% on tenant eviction and lease expirations.
- Mining Royalty NOI down 26% due to prior year catch-up; adjusted +16% on higher tonnage and pricing.
- Subsequent to quarter: Altman Logistics platform acquired; entered JV with SREP for 377,892 sq ft warehouses in Florida.

## SEC filing metadata
- accession: 0000844059-25-000062
- form_type: 8-K
- ticker: FRPH
- cik: 0000844059
- company_name: FRP HOLDINGS, INC.
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/844059/000084405925000062/0000844059-25-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/844059/000084405925000062/frph-20251105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000844059-25-000062
- JSON: https://secwatch.observer/filing/0000844059-25-000062.json
- Plain text: https://secwatch.observer/filing/0000844059-25-000062.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.