David Foley's questions to FRP Holdings Inc (FRPH) leadership • Q2 2025
Question
David Foley of Estabrook Capital Management inquired about the significant legal expenses incurred during the quarter for a potential new investment, asking if this signaled a strategic shift toward larger acquisitions.
Answer
CEO John Baker III clarified that the legal expenses do not represent a shift in strategy. He stated that while he could not disclose specifics, the costs are related to the company actively pursuing a business opportunity.