Overview

* FRP Holdings ( FRPH ) Q2 net income falls 72% due to increased legal expenses

* Total revenues for Q2 rise 3.6%, driven by higher mining royalties

* Company enters joint venture for industrial development in Lake County, FL

Outlook

* FRP Holdings ( FRPH ) aims to double industrial segment size by 2030

* Company expects substantial completion of projects by Q2 2026

* FRP Holdings ( FRPH ) notes shortage of industrial buildings in Orlando area

* Company shifts investment focus to industrial segment

Result Drivers

* LEGAL EXPENSES - Net income decreased due to legal expenses for due diligence on potential investment

* MINING ROYALTIES - Increase in mining royalties contributed to revenue growth

* MULTIFAMILY OCCUPANCY - Improved occupancy at The Verge and Dock 79 led to slight increase in multifamily NOI

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Lease $7.24

Revenue mln

Q2 Net $624,000

Income

Q2 $2.58

Operatin mln

g

Expenses

Q2 $1.66

Operatin mln

g Profit

Q2 $802,000

Pretax

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)