Five Point Holdings LLC

NYSE:FPHUnited States

Apr 18, 2024

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• Five Point Q1 Swings to Profit, Revenue Increases, from 4:31PM ET on Thursday Apr 18, 2024 by MT Newswires

  4:31PM ET on Thursday Apr 18, 2024 by MT Newswires
  Companies Mentioned: FPH
  04:31 PM EDT, 04/18/2024 (MT Newswires) -- Five Point (FPH) reported Q1 net income Thursday of $0.03 per class A diluted share, compared with a loss of $0.07 a year ago. Revenue for the quarter ended March 31 was $9.9 million, up from $5.7 million a...

• -- Earnings Flash (FPH) FIVE POINT HOLDINGS LLC Reports Q1 Revenue $9.9M, from 4:10PM ET on Thursday Apr 18, 2024 by MT Newswires

  4:10PM ET on Thursday Apr 18, 2024 by MT Newswires
  Companies Mentioned: FPH
  04:10 PM EDT, 04/18/2024 (MT Newswires) -- ...

• Five Point Holdings, LLC Reports First Quarter 2024 Results, from 4:10PM ET on Thursday Apr 18, 2024 by Business Wire

  4:10PM ET on Thursday Apr 18, 2024 by Business Wire
  Companies Mentioned: FPH

  --

  Five Point Holdings, LLC ("Five Point" or the "Company") (NYSE:FPH), an owner and developer of large mixed-use planned communities in California, today reported its first quarter 2024 results.

  Dan Hedigan, Chief Executive Officer, said, "In the first quarter of 2024, we continued to position ourselves for future success. We generated earnings for the fourth consecutive quarter and ended the quarter with total liquidity of $358 million. We also successfully completed an exchange offer for our senior notes, reduced our outstanding debt by $100 million, and received ratings and outlook upgrades from S&P. Although uncertainty remains around interest rates and inflation, we believe that demand for our residential land will continue to exceed supply, and we remain optimistic about the market for our commercial offerings. As we move forward, we continue to be focused on driving shareholder value by executing on our key operating priorities: generating revenue, controlling our SG&A, and managing our capital spend."

• Five Point Holdings, LLC Reports First Quarter 2024 Results, from 4:10PM ET on Thursday Apr 18, 2024 by Dow Jones

  4:10PM ET on Thursday Apr 18, 2024 by Dow Jones
  Companies Mentioned: FPH
  administrative 3,194 1,135 2,939 1,029 8,297 8,587 16,884 (3,968) 12,916 Management fees--related party -- -- 8,162 -- 8,162 -- 8,162 (8,162) -- ------ ------ ------- ------ ------- -------- ------- -------- --- ------- --- Total costs and expenses 4,184 1,135 44,955 2,005 52,279 8,587 60,866 (43,064) 17,802 ------ ------ ------- ------ ------- -------- ------- -------- --- ------- --- OTHER INCOME (EXPENSE): Interest income -- 15 1,479 34 1,528 3,210 4,738 (1,513) 3,225 Interest expense -- -- -- (694) (694) -- (694) 694 -- Miscellaneous 24 -- -- -- 24 (5,931) (5,907) -- (5,907) ------ ------ ------- ------ ------- -------- ------- -------- ---- ------- Total other income (expense) 24 15 1,479 (660) 858 (2,721) (1,863) (819) (2,682) ------ ------ ------- ------ ------- -------- ------- -------- --- ------- EQUITY IN EARNINGS FROM UNCONSOLIDATED ENTITIES 16 -- -- -- 16 -- 16 17,570 17,586 ------ ------ ------- ------ ------- -------- ------- -------- ---- ------- --- SEGMENT (LOSS) PROFIT/INCOME BEFORE INCOME TAX PROVISION (3,103) (952) 57,846 (3) 53,788 (11,308) 42,480 (35,443) 7,037 INCOME TAX PROVISION -- -- -- -- -- (954) (954) -- (954) ------ ------ ------- ------ ------- -------- ------- -------- ---- ------- SEGMENT (LOSS) PROFIT/NET INCOME $(3,103) $ (952) $ 57,846 $ (3) $ 53,788 $ (12,262) $ 41,526 $ (35,443) $ 6,083 ====== ====== ======= ====== ======= ======== ======= ======== === ======= === (1) Represents the removal of the Great Park Venture and Gateway Commercial Venture operating results, which are included in the Great Park segment and Commercial segment operating results at 100% of each venture's historical basis, respectively, but are not included in our consolidated results as we account for our investment in each venture using the equity method of accounting. (2) For the Great Park and Commercial segments, represents the revenues and expenses attributable to the management company for providing services to the Great Park Venture and the Gateway Commercial Venture, as applicable.
  

• *DJ Five Point Holdings 1Q Net $2.33M >FPH, from 4:10PM ET on Thursday Apr 18, 2024 by Dow Jones

  4:10PM ET on Thursday Apr 18, 2024 by Dow Jones
  Companies Mentioned: FPH