Overview

* FRP Holdings ( FRPH ) Q3 net income down 59% due to Altman Logistics acquisition expenses

* Adjusted net income for Q3 up $0.3 mln excluding Altman acquisition expenses

* Company enters joint venture to develop warehouses in Florida with SREP

Result Drivers

* ACQUISITION EXPENSES - Net income decreased largely due to expenses from Altman Logistics acquisition

* MINING ROYALTIES - Higher mining royalties contributed positively to revenue

* VACANCIES IMPACT - Industrial and Commercial segment NOI decreased due to tenant vacancies and lease expirations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Lease $7.09

Revenue mln

Q3 Net $565,000

Income

Q3 $3.30

Operatin mln

g

Expenses

Q3 $1.36

Operatin mln

g Profit

Q3 $768,000

Pretax

Profit

Press Release:

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(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.)