Frp Holdings, Inc. · NASDAQ:FRPH
Frp — Q2 2023 Earnings Presentation
12 slides from Frp's earnings presentation, Aug 9, 2023
Slide 1: Financial Highlights Q2 2023
FRP HOLDINGS, INC. FINANCIAL HIGHLIGHTS Q2 2023 AUGUST 9, 2023 1
Slide 2: Highlights for Q2
FRP HOLDINGS, INC. HIGHLIGHTS FOR Q2 (in 000’S) THREE MONTHS ENDED JUNE 30, 2023 JUNE 30, 2022 REVENUES 11.1% $10,696 $9,628 OPERATING PROFIT 33.9% $2,767 $2,066 PRO RATA NOI 16.3% $7,614 $6,549 NET INCOME -9.0% $598 $657 (After-Tax & Non-Controlling Interest) 2
Slide 3: Highlights for First Six Months
FRP HOLDINGS, INC. HIGHLIGHTS FOR FIRST SIX MONTHS (in 000’S) SIX MONTHS ENDED JUNE 30, 2023 JUNE 30, 2022 REVENUES 13.5% $20,810 $18,335 OPERATING PROFIT 63.9% $5,621 $3,430 PRO RATA NOI 24.5% $14,602 $11,727 NET INCOME -12.5% $1,163 $1,329 (After-Tax & Non-Controlling Interest) 3
Slide 4: Highlights for Trailing Twelve Months
FRP HOLDINGS, INC. HIGHLIGHTS FOR TRAILING TWELVE MONTHS (in 000’S) TTM ENDED JUNE 30, 2023 JUNE 30, 2022 REVENUES 13.5% $39,956 $35,207 OPERATING PROFIT 130.4% $10,187 $4,421 PRO RATA NOI 34.3% $27,105 $20,176 NET INCOME 303.9% $4,399 $1,089 (After-Tax & Non-Controlling Interest) 4
Slide 5: Balance Sheet Excerpts
FRP HOLDINGS, INC. BALANCE SHEET EXCERPTS (in 000’S) 6/30/2023 12/31/2022 Assets: Net Investment in Properties $ 363,595 367,158 Real Estate Held for Investment, At Cost 10,392 10,182 Investment in Joint Ventures 152,587 140,525 Net Real Estate Investments 526,574 517,865 Cash and Cash Equivalents 1
Slide 6: Balance Sheet Excerpts
FRP HOLDINGS, INC. BALANCE SHEET EXCERPTS (in 000’S) 6/30/2023 12/31/2022 Long Term Debt 178,631 178,557 Deferred Income Tax 67,903 67,960 Other 8,370 10,356 Total Liabilities $ 254,904 256,873 Total Shareholders’ Equity 409,876 407,145 Noncontrolling Interest 35,116 37,066 Total Equity $ 444,992 44
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: 2023 Non-GAAP Financial Matters
Mining Royalty Lands 2023 NON-GAAP FINANCIAL MATTERS Net Operating Income Reconciliation Stabilized Joint Mining Unallocated Asset Management FRP Holdings Six months ended 6/30/23 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (loss)
Slide 9: 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 Twelve months ended 12/31/22 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (lo
Slide 10: 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 Six months ended 6/30/22 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (loss)
Slide 11: 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 12: 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 Six months ended 6/30/21 (in thousands) Development Segment Venture Royalties Corporate Segment Totals Segment Segment Expense Net Income (loss)