---
schema_version: "secwatch.filing_event.v1"
accession: "0000844059-26-000030"
form_type: "8-K"
ticker: "FRPH"
cik: "0000844059"
company_name: "FRP HOLDINGS, INC."
filed_at: "2026-04-10T23:59:59+00:00"
generated_at: "2026-05-15T06:44:44.241111+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FRP Holdings Q4 net income down 77% to $380K; full year down 48% on acquisition costs

## Summary
- Q4 net income $380K ($0.02/sh) vs $1.68M ($0.09/sh) prior year; includes $512K of Altman acquisition expenses.
- Full year net income $3.33M ($0.18/sh) vs $6.39M ($0.34/sh); adjusted net income down $1.1M excluding $2.5M Altman costs.
- Pro rata NOI Q4 $9.29M (+2% YoY); full year $37.86M (-0.7% YoY) but up 3% adjusted for non-recurring mining items.
- Industrial & Commercial segment NOI fell 12% in Q4 due to tenant eviction and lease expirations; 47.5% occupancy.
- Oct 2025 Altman Logistics acquisition adds development pipeline and staff; three industrial projects (762k sf) expected $9.3M NOI at stabilization.

## SEC filing metadata
- accession: 0000844059-26-000030
- form_type: 8-K
- ticker: FRPH
- cik: 0000844059
- company_name: FRP HOLDINGS, INC.
- filed_at: 2026-04-10T23:59:59+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/844059/000084405926000030/0000844059-26-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/844059/000084405926000030/frph-20260410.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000844059-26-000030
- JSON: https://secwatch.observer/filing/0000844059-26-000030.json
- Plain text: https://secwatch.observer/filing/0000844059-26-000030.txt

## Key facts
- Earnings Releases
  FRP HOLDINGS, INC. reported the quarter and full year ended December 31, 2025 results: net income $0.4 million vs $1.7 million.
  - Period: the quarter and full year ended December 31, 2025
  - Net income: $0.4 million vs $1.7 million
  - Result: reported results
  source text: and Mining and Royalty Lands, today reported financial results for the quarter and full year ended December 31, 2025. Fourth Quarter Highlights • 77% decrease in Net Income ($0.4 million vs $1.7 million) due to expenses related to the Altman Logistics platform acquisition ($0.5 million), increased G&A due to the Altman new hires, under performance at Dock and
  evidence_url: https://www.sec.gov/Archives/edgar/data/844059/000084405926000030/0000844059-26-000030-index.htm

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