FPH
Five Point Holdings, LLC5.58
+0.02+0.36%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
818.78MP/E (TTM)
4.29Basic EPS (TTM)
1.30Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
Five Point Holdings swung to a solid Q3, posting net income of $55.7 million, up sharply from $12.3 million a year earlier, thanks to robust equity earnings of $70.1 million from the Great Park Venture—its 37.5% stake in a community that sold 326 homesites for $257.7 million base price. Revenues dipped 20.7% year-over-year to $13.5 million, reflecting softer management fees, yet the nine-month tally shows $34.1 million, with YTD equity earnings soaring 252% to $158.7 million on stronger land sales. The $57.6 million all-cash acquisition of a 75% stake in Hearthstone closed in July, adding $69.8 million goodwill and $13.7 million intangibles amortized over seven years, while boosting management services. Cash sits at $351.1 million with $125 million revolver availability, after refinancing $450 million 8% notes due 2030 to retire pricier debt. Litigation over Shipyard contamination lingers as a key risk.
8-K
Credit facility upsized to $217.5M
Five Point Operating Company boosted its revolving credit facility to $217.5 million from $125 million on October 21, 2025, adding new lenders while extending maturity to July 2029 with a one-year option. Interest floats at CME Term SOFR plus 2.25-2.50% based on leverage, with no borrowings outstanding. This liquidity lift bolsters working capital amid development projects, yet hinges on covenant compliance.
8-K
Debt refinancing via new notes
Five Point Holdings issued $450 million in 8% senior notes due 2030 on September 25, 2025, to refinance higher-rate debt. Proceeds, plus cash on hand, funded the tender of $471.5 million in 10.5% notes due 2028 and full redemption of the rest by November 15, alongside retiring all 7.875% notes due 2025. This swap cuts interest costs while extending maturities. Notes rank senior unsecured, with covenants curbing dividends and debt.
8-K
Senior notes pricing announced
Five Point Operating Company, LP priced $450 million of 8.000% senior notes due 2030 at par on September 15, 2025, with closing expected around September 25. Proceeds, plus cash on hand, will fund a tender offer and full redemption of the company's 10.500% notes due 2028 and 7.875% notes due 2025. This refinancing swaps higher-rate debt for lower, easing near-term maturities. Notes carry subsidiary guarantees but exclude the parent.
8-K
Launches $450M notes refi
Five Point Operating Company launched a $450 million senior notes offering due 2030, aiming to refinance $523.5 million of 10.500% notes due 2028 via a concurrent cash tender offer expiring September 19, 2025, while also redeeming 7.875% notes due 2025. Proceeds, plus cash on hand, will clear these obligations by November 15, 2025. This refi swaps high-rate debt for longer-term notes. Risks hinge on market conditions and tender uptake.
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