)
Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
FRP (FRPH) investor relations material
FRP Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Net income for Q3 2025 decreased 51% year-over-year to $0.7M, mainly due to $1.3M in Altman Logistics acquisition expenses; adjusted net income rose $0.3M excluding these costs.
Pro rata NOI for Q3 2025 was $9.5M, down 16% year-over-year due to a one-time $1.9M royalty payment in the prior year; adjusted pro rata NOI was up $0.1M.
The acquisition of Altman Logistics Properties, completed post-quarter-end for $33.5M, expands the development pipeline, adds a seasoned team, and enhances presence in high-barrier, supply-constrained logistics markets.
Adjusted net income for Q3 2025 was $1.6M, up from $1.4M after excluding Altman acquisition expenses.
Segment performance was mixed: multifamily NOI down 3% due to higher costs and uncollectable revenue, industrial and commercial NOI down 25% from vacancies and lease expirations, mining royalty NOI down 26% due to a prior year one-time payment but up 16% adjusted.
Financial highlights
Q3 2025 total revenues were $10.8M, up 1.3% year-over-year; mining royalty and rents increased 15.3% while lease revenue declined 4.7%.
Q3 2025 net income attributable to the company was $662K ($0.03/share), down from $1.36M ($0.07/share) in Q3 2024; nine-month net income was $2.95M ($0.16/share), down 37% year-over-year.
Operating profit for Q3 2025 was $1.36M, down 56% year-over-year; for nine months: $5.35M, down 39%.
Pro rata NOI for nine months was $28.6M, down 1.6% year-over-year; adjusted, up $1.4M.
Cap rates for income-producing properties ranged from 5.0% to 6.65% for industrial and multifamily assets.
Outlook and guidance
Focus remains on leasing and occupying industrial and commercial vacancies to drive future earnings and NOI growth.
Over 1.6 million sq ft of industrial space will be available to lease in the next 12 months; market conditions and leasing velocity are key factors.
Significant growth is expected from the development pipeline, especially in Maryland, Florida, and South Carolina.
Market vacancy is expected to peak in Q4 2025, with improved fundamentals and tenant momentum anticipated as new product comes online in 2026.
The Altman Logistics acquisition is expected to scale operations and expand into new markets, fueling long-term growth.
Detail Altman acquisition's strategic value
Key indicators for DC multifamily market recovery
Industrial lease-up conditions for new supply
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next FRP earnings date
Q4 20254 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
FRP Holdings Inc is a real estate company focused on industrial and commercial properties. The company engages in property development, leasing, and land management, with assets concentrated primarily in the Mid-Atlantic and Southeast regions of the United States. It also holds investments in joint ventures. FRP Holdings Inc is headquartered in Jacksonville, Florida, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage