FRPH - FRP Holdings Inc. (FRPH) Q4 2023 Earnings Call Transcript
2024-03-07 17:10:29 ET
FRP Holdings, Inc. (FRPH)
Q4 2023 Earnings Conference Call
March 07, 2024, 10:00 AM ET
Company Participants
John Baker - Chief Financial Officer and Treasurer
David deVilliers - President
Conference Call Participants
Curtis Jensen - Robotti & Company
Stephen Farrell - Oppenheimer
Bill Chen - Rhizome Partners
Presentation
Operator
Good day, everyone, and welcome to today's FRP Holdings, Inc. Fourth Quarter Earnings Conference Call. [Operator Instructions] Please note, this call is being recorded.
I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Chief Financial Officer, John Baker, III.
John Baker
Thank you, Madison. Good morning. I'm John Baker III, Chief Financial Officer and Treasurer of FRP Holdings. And with me today are David deVilliers, Jr., our President and Vice Chairman; John Milton, our Executive Vice President and General Counsel; John Koppenstein, our Chief Accounting Officer; and David deVilliers, III, our Executive Vice President.
As a reminder, any statements on this call, which relate to the future are, by their nature, subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These risks and uncertainties are listed in our SEC filings. We have no obligation to revise or update any forward-looking statements, except as imposed by law as a result of future events or information.
To supplement the financial results presented in accordance with GAAP, FRP presents certain non-GAAP financial measures within the meaning of Regulation G formulated by the Securities and Exchange Commission. The non-GAAP financial measure referenced in this call is net operating income or NOI. FRP uses this non-GAAP financial measure, to analyze its operations and to monitor, assess and identify meaningful trends in its operating financial performance. This measure is not, and should not be viewed as a substitute for GAAP financial measures. To reconcile NOI to GAAP net income, please refer to the segment titled non-GAAP Financial Measures on Pages 12 and 13 of our most recent earnings release.
Any reference to cap rates, asset values per share values or the analysis of the estimated value of our assets net of debt and liabilities are for illustrative purposes only as a reflection of how management views its various assets for purposes of informing management decisions and do not necessarily reflect the price that would be obtained upon the sale of the asset or the associated costs or tax liability....
FRP Holdings, Inc. (FRPH) Q4 2023 Earnings Call Transcript