Five Point Holdings, LLC (FPH) Reports Q3 Loss of $0.15, Revenues Beat

Five Point Holdings, LLC (NYSE: FPH) reported Q3 EPS of ($0.15), versus $0.00 reported last year. Revenue for the quarter came in at $13 million versus the consensus estimate of $9.48 million.

Emile Haddad, Chairman and CEO, said, “Consistent job growth during the past six years and limited new residential construction activity in San Francisco, Los Angeles, and Orange County have resulted in pent-up demand in California’s primary housing markets. We think the persistence of this dynamic will benefit our communities in contrast with choppier demand trends in the national housing market. Operationally, our ongoing efforts to develop Newhall in Los Angeles County remain on track, and we continue to believe that we are positioned to generate revenue in that community sometime toward the end of 2019. In San Francisco, we are continuing to build infrastructure at Candlestick Point, consistent with our prior comments that this will be our main area of focus while the Navy continues retesting at Hunters Point. In the Great Park Neighborhoods, home buyer activity remains consistent with prior trends. From our perspective, a pronounced imbalance between levels of supply and demand across our markets is likely to persist into next year.”

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

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