earnings
confidence high
sentiment positive
materiality 0.70
Five Point Q3 2024 net income $12.3M, reaffirms FY guidance >$100M
Five Point Holdings, LLC
- Consolidated net income $12.3M (sixth consecutive profitable quarter); net income attributable to Company $4.8M.
- Great Park Venture closed two commercial land sales (12.8 acres, $25.4M); Company received $38.9M distributions from its 37.5% stake.
- Builder sales: 166 homes at Great Park, 89 at Valencia during Q3.
- Renewed development management agreement with Great Park Venture through Dec 2026.
- Cash $224.5M, liquidity $349.5M, debt/cap 20.5%; reaffirms FY net income >$100M and cash >$300M.