FRP Holdings Inc 2026年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 47-2449198 904-858-9100 (Registrant’s telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements forthe past 90 days. Yes [x] No [_] Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes[x] No [_] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer [_]Accelerated filer [_]Non-accelerated filer [x]Smaller reporting company [x] Emerging growth company [_] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [_] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [_] No [x] Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Table of Contents FRP HOLDINGS, INC.FORM 10-QQUARTER ENDED MARCH31, 2026 CONTENTS Preliminary Note Regarding Forward-Looking Statements Part I. Financial Information Item 1.Financial StatementsConsolidated Balance Sheets4Consolidated Statements of Income5Consolidated Statements of Comprehensive Income6Consolidated Statements of Cash Flows7Consolidated Statements of Shareholders’ Equity8Condensed Notes to Consolidated Financial Statements9Item 2.Management's Discussion and Analysis of Financial Condition and Results ofOperations22Item 3.Quantitative and Qualitative Disclosures about Market Risks40Item 4.Controls and Procedures41Part II. Other InformationItem 1A.Risk Factors42Item 2.Purchase of Equity Securities by the Issuer42Item 6.Exhibits42Signatures43Exhibit 31Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 200245Exhibit 32Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 200245 Table of Contents Preliminary Note Regarding Forward-Looking Statements. This Quarterly Report on Form 10-Q, together with other statements and information publicly disseminated by us, contains“forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E ofthe Securities Exchange Act of 1934, as amended. The words or phrases “anticipate,” “estimate,” “believe,” “budget,”“continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,”“projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and similar expressions identify forward-lookingstatements. Such statements reflect management’s current views with respect to financial results related to future events and arebased on assumptions and expectations that may not be realized and are inherently subject to risks and uncertainties, many ofwhich cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results,financial or otherwise, may differ, perhaps materially, from the results discussed in the forward-looking statements. Risk factorsdiscussed in Item 1A of this Form 10-Q and other factors that might cause differences, some of which could be material, include,but are not limited to: the possibility that we may be unable to find appropriate investment opportunities; levels of constructionactivity in the markets served by our mining properties; demand for flexible warehouse/office facilities in the Mid-Atlantic andFlorida; multifamily demand in Washington D.C., and Greenville, South Carolina; our ability to obtain zoning and entitlementsnecessary for property development; the impact of lending and capital market conditions on our liquidity, our ability to financeprojects or repay our debt; general real estate investment and development risks; vacancies in our properties; risks associatedwith developing and managing properties in partnership with others; competition; our ability to renew leases or re-lease spacesas leases expire; illiquidity of real estate investments; bankruptcy or defaults of tenants; the impact of res