Frp Holdings, Inc. · NASDAQ:FRPH
Frp — Q3 2022 Earnings Presentation
12 slides from Frp's earnings presentation, Nov 7, 2022
Slide 1: Financial Highlights Q3 2022
FRP HOLDINGS, INC. FINANCIAL HIGHLIGHTS Q3 2022 NOVEMBER 7, 2022 1
Slide 2: Highlights for Q3
FRP HOLDINGS, INC. HIGHLIGHTS FOR Q3 (in 000’S) THREE MONTHS ENDED SEPT 30, 2022 SEPT 30, 2021 REVENUES 9.7% $9,294 $8,473 OPERATING PROFIT 152.6% $1,849 $732 PRO RATA NOI 41.6% $6,242 $4,409 NET INCOME 36.4% $480 $352 (After-Tax & Non-Controlling Interest) 2
Slide 3: Highlights for the First Nine Months
FRP HOLDINGS, INC. HIGHLIGHTS FOR THE FIRST NINE MONTHS (in 000’S) NINE MONTHS ENDED SEPT 30, 2022 SEPT 30, 2021 REVENUES 21.1% $27,629 $22,821 OPERATING PROFIT 162.0% $5,279 $2,015 PRO RATA NOI 32.1% $17,970 $13,603 NET INCOME -93.7% $1,809 $28,807 (After-Tax & Non-Controlling Interest) 3
Slide 4: Trailing Twelve Months Highlights
FRP HOLDINGS, INC. TRAILING TWELVE MONTHS HIGHLIGHTS (in 000’S) TTM ENDED SEPT 30, 2022 SEPT 30, 2021 REVENUES 25.6% $36,028 $28,674 OPERATING PROFIT 55.1% $5,538 $3,570 NOI 17.7% $23,810 $20,223 NET INCOME -96.0% $1,217 $30,300 (After-Tax & Non-Controlling Interest) 4
Slide 5: Balance Sheet Excerpts
FRP HOLDINGS, INC. BALANCE SHEET EXCERPTS (in 000’S) 9/30/2022 12/31/2021 Assets: Net Investment in Properties $ 368,468 350,665 Real Estate Held for Investment, At Cost 10,079 9,722 Investment in Joint Ventures 147,703 145,443 Net Real Estate Investments 526,250 505,830 Cash and Cash Equivalents 14
Slide 6: Balance Sheet Excerpts
FRP HOLDINGS, INC. BALANCE SHEET EXCERPTS (in 000’S) 9/30/2022 12/31/2021 Long Term Debt 178,520 178,409 Deferred Income Tax 64,180 64,047 Other 9,605 10,484 Total Liabilities $ 252,305 252,940 Total Shareholders’ Equity 398,234 396,423 Noncontrolling Interest MRP 26,451 28,827 Total Equity $ 424,68
Slide 7: Non-GAAP Financial Matters
Mining Royalty Lands NON-GAAP FINANCIAL MATTERS To supplement the financial results presented in accordance with GAAP, FRP presents a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The non-GAAP financial measure included in this P
Slide 8: 2022 Non-GAAP Financial Matters
Mining Royalty Lands 2022 NON-GAAP FINANCIAL MATTERS Net Operating Income Reconciliation Stabilized Joint Mining Unallocated Asset Management FRP Holdings Nine months ended 9/30/22 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (loss)
Slide 9: 2021 Non-GAAP Financial Matters
Mining Royalty Lands 2021 NON-GAAP FINANCIAL MATTERS Net Operating Income Reconciliation Stabilized Joint Mining Unallocated Asset Management FRP Holdings Twelve months ended 12/31/21 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (lo
Slide 10: 2021 Non-GAAP Financial Matters
Mining Royalty Lands 2021 NON-GAAP FINANCIAL MATTERS Net Operating Income Reconciliation Stabilized Joint Mining Unallocated Asset Management FRP Holdings Nine months ended 9/30/21 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (loss)
Slide 11: 2020 Non-GAAP Financial Matters
Mining Royalty Lands 2020 NON-GAAP FINANCIAL MATTERS Net Operating Income Reconciliation Stabilized Joint Mining Unallocated Asset Management FRP Holdings Twelve months ended 12/31/20 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (lo
Slide 12: 2020 Non-GAAP Financial Matters
Mining Royalty Lands 2020 NON-GAAP FINANCIAL MATTERS Net Operating Income Reconciliation Stabilized Joint Mining Unallocated Asset Management FRP Holdings Nine months ended 9/30/20 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (loss)