Five Point Holdings, LLC (FPH) Reports Big Miss on Revenues

Five Point Holdings, LLC (NYSE: FPH) reported Q2 EPS of $. Revenue for the quarter came in at $13.25 million versus the consensus estimate of $39.4 million.

Second Quarter 2017 and Recent Highlights

• In May, completed a concurrent IPO and private placement generating $420 million in net cash proceeds (before offering expenses).
• Cash and cash equivalents of $514 million at June 30, 2017.
• In April, secured a $50 million unsecured revolving line of credit, all of which was available at June 30, 2017.
• In July, the California Department of Fish and Wildlife re-approved the Resource and Conservation Plans and the Los Angeles County Board of Supervisors re-approved Landmark Village and Mission Village at Newhall Ranch.
• In August, acquired a 75% equity interest for $107 million in a venture that acquired the Broadcom campus at Great Park Neighborhoods.

For earnings history and earnings-related data on Five Point Holdings, LLC (FPH) click here.

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