FRP Holdings, Inc. (FRPH) hosted its fourth quarter 2025 earnings conference call, where executives discussed financial results and future outlook. Key company leaders participated in the discussion.
Executive Participants
The call featured Matthew McNulty, Chief Financial Officer and Treasurer, who led the session. Joining him were John Baker II, Chairman; John Baker III, Chief Executive Officer and Director; David deVilliers III, President and Chief Operating Officer; Mark Levy, Chief Investment Officer; and John Klopfenstein, Chief Accounting Officer. Analyst Stephen Farrell also attended.
Forward-Looking Statements
Executives noted that any comments about future performance carry inherent risks and uncertainties. Actual results may differ materially from projections due to factors outlined in the company’s SEC filings.
Non-GAAP Financial Measures
To provide additional insight, the company highlighted non-GAAP metrics such as net operating income (NOI) and pro rata NOI, in line with Regulation G requirements. For this quarter, adjusted net income accounts for one-time expenses related to the Altman Logistics acquisition. This transaction represents a material business combination, distinct from prior real estate acquisitions and joint ventures where such costs were capitalized.
