FPH · Five Point Holdings, LLC

Five Point Holdings reported a consolidated net loss of $5.0 million for the first quarter of 2026, compared to net income of $60.6 million in the same period last year, which included significant equity earnings from unconsolidated entities. Revenues were $13.6 million, slightly up from $13.2 million a year ago, primarily from management services at Great Park and Hearthstone segments. Selling, general, and administrative expenses were $14.7 million, roughly flat year-over-year. The company maintained a strong balance sheet with $332.6 million in cash and cash equivalents and total liquidity of $550.1 million, including $217.5 million available under its revolving credit facility. Debt to total capitalization stood at 16.3%. Management reiterated its full-year 2026 guidance of approximately $100 million in consolidated net income, reflecting expected land sales closings in the second half of the year. Additionally, the Board authorized a $40 million share repurchase program, signaling confidence in the company's valuation and financial flexibility. The repurchase has no expiration date and may be executed at management's discretion.