FRP HOLDINGS INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
FRPH$19.00-4.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
(In thousands except per share amounts)
| THREE MONTHS ENDED · NINE MONTHS ENDED | ||||
|---|---|---|---|---|
| SEPTEMBER 30, | SEPTEMBER 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Lease revenue | $7,434 | 7,509 | $21,850 | 21,773 |
| Mining royalty and rents | 3,199 | 3,082 | 9,393 | 9,628 |
| Total revenues | 10,633 | 10,591 | 31,243 | 31,401 |
| Cost of operations: | ||||
| Depreciation/depletion/amortization | 2,551 | 2,816 | 7,629 | 8,415 |
| Operating expenses | 1,860 | 2,012 | 5,429 | 5,574 |
| Property taxes | 850 | 919 | 2,517 | 2,745 |
| General and administrative | 2,289 | 1,948 | 6,883 | 6,150 |
| Total cost of operations | 7,550 | 7,695 | 22,458 | 22,884 |
| Total operating profit | 3,083 | 2,896 | 8,785 | 8,517 |
| Net investment income | 2,304 | 2,700 | 8,795 | 8,207 |
| Interest expense | (742) | (1,116) | (2,482) | (3,251) |
| Equity in loss of joint ventures | (2,839) | (2,913) | (8,582) | (10,585) |
| (Loss) gain on sale of real estate | — | (1) | — | 7 |
| Income before income taxes | 1,806 | 1,566 | 6,516 | 2,895 |
| Provision for income taxes | 427 | 467 | 1,743 | 898 |
| Net income | 1,379 | 1,099 | 4,773 | 1,997 |
| Income (loss) attributable to noncontrolling interest | 18 | (160) | 67 | (425) |
| Net income attributable to the Company | $1,361 | 1,259 | $4,706 | 2,422 |
| Earnings per common share (1): | ||||
| Net income attributable to the Company- | ||||
| Basic | $.07 | .07 | $.25 | .13 |
| Diluted | $.07 | .07 | $.25 | .13 |
| Number of shares (in thousands) used in computing (1): | ||||
| -basic earnings per common share | 18,887 | 18,846 | 18,877 | 18,846 |
| -diluted earnings per common share | 18,972 | 18,920 | 18,967 | 18,926 |
(1)Adjusted for the 2 for 1 stock split that occurred in April 2024
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