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FRP flags lower 2025 profit as annual report slips past deadline
FRP Holdings (FRPH) has filed a Form 12b-25 notification for a late Form 10-K for the fiscal year ended December 31, 2025, citing delays in finalizing financial statements and completing the audit. The company anticipates filing within the 15-day grace period, but expects a significant decrease in both Q4 and full-year 2025 net income, primarily due to expenses from the Altman Logistics acquisition. This news has led to modest share price declines, reflecting investor concerns over integration costs and timing delays.