Five Point Holdings, LLC (FPH) Reports Q2 Revenues Below Consensus

Five Point Holdings, LLC (NYSE: FPH) reported Q2 revenue for the quarter came in at $13.09 million versus the consensus estimate of $15.5 million.

Emile Haddad, Chairman and CEO, commented that “We are seeing strength in each of our markets driven by a robust labor market and limited housing supply. We continue our development efforts in Newhall Ranch in Los Angeles County and remain on track to deliver developed homesites to builders sometime toward the end of 2019. In San Francisco, we received unanimous approval from the Board of Supervisors to develop an additional two million square feet of commercial space. We view this as another vote of confidence by the city in the strength of our public-private partnership and its commitment to transforming Candlestick Point and The San Francisco Shipyard into world-class mixed-use communities. At the Great Park Neighborhoods in Orange County, home buyer activity remains brisk. From our perspective, we still see a continued imbalance between levels of supply and demand across all of our markets that should support incremental home price appreciation in our communities.”

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

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