10-K · April 15, 2026
FRP Holdings (FRPH) is a small, regionally focused real estate owner/developer operating four segments (Industrial & Commercial, Mining Royalty Lands, Development and Multifamily). The company completed the acquisition…
Earnings analysis · 10-Q
FRPH earnings analysis
Filed May 14, 2026 · Our reading of the company's report
The latest report
FRP Holdings, Inc. reported Q4 2026 results, revealing revenue of $10.6 million and diluted EPS of $0.02, a decline in EPS from $0.09 a year earlier. The company continues to face challenges primarily in its Multifamily…
Read full summary
FRP Holdings, Inc. reported Q4 2026 results, revealing revenue of $10.6 million and diluted EPS of $0.02, a decline in EPS from $0.09 a year earlier. The company continues to face challenges primarily in its Multifamily and Industrial segments while they achieved growth in their Mining Royalties segment. Management outlines an optimistic leasing activity as a key driver moving forward, despite ongoing headwinds.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.02
- Segment
- Multifamily
- Segment
- Industrial
- Segment
- Mining Royalties
- Segment
- Development
What stood out
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Stable Revenue Neutral Year-over-Year
Revenue remained stable at $10.6 million, slightly above the $10.3 million in Q4 2025.
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Improved Cash Flow from Operations
Operating cash flow increased to $9.67 million from $4.5 million in the prior year.
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Decreased General and Administrative Costs
G&A expenses rose to $4.08 million, highlighting increased operational costs.
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Mining Royalties Segment Growth
Mining royalties revenue increased by 14.9% year-over-year, totaling $3.72 million.
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Balance Sheet Strength with Cash Reserves
Cash and cash equivalents stood at $107.9 million as of March 31, 2026.
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Management Signals Positive Leasing Activity
Management noted an increase in leasing activity that may restore occupancy to historic levels.
What to watch
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High G&A Costs Impacting Earnings
G&A costs increased significantly by 58.5% this quarter over last year.
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Lower Occupancy Rates in Key Segments
Occupancy rates fell in Multifamily and Industrial segments, contributing to operational losses.
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Increased Equity Loss from Joint Ventures
Equity in losses of joint ventures increased by 28.8%, totaling $2.62 million.
Management's outlook
Positive leasing activity may bolster future results; however, guidance was not explicitly numerical.
Earlier filings 4
10-Q · August 8, 2025
FRP Holdings reported Q2 revenue of $10,850,000, up $373,000 (3.6%) versus Q2 2024, but operating profit and EPS contracted materially. Operating profit fell to $1,657,000 from $2,820,000 in Q2 2024 and diluted EPS…
10-K · March 18, 2025
FRP Holdings reported stable revenues across its segments, achieving $11M in revenue for Q4 2024 with a diluted EPS of $0.09. The company focuses on converting non-income producing properties into income-generating…
10-K · March 26, 2024
FRP Holdings, Inc. has demonstrated robust operational strategies focusing on expanding its real estate and development segments. The company reported a revenue of $10 million in Q4 2023 with a notable operating margin…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.