$FPH

Five Point Holdings, LLC

CIK:0001574197|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
REVENUES:
Revenues	$ 13,902	$ 7,473	$ 27,483	$ 20,630
COSTS AND EXPENSES:
Selling, general, and administrative	14,294	15,586	29,043	30,351
Total costs and expenses	21,486	19,689	44,709	39,002
OTHER INCOME:
Interest income	2,659	4,967	5,926	9,017
Miscellaneous	36	21	644	796
Total other income	2,695	4,988	6,570	9,813
EQUITY IN EARNINGS FROM UNCONSOLIDATED ENTITIES	41,030	17,145	40,885	88,584
INCOME BEFORE INCOME TAX PROVISION	36,141	9,917	30,229	80,025
INCOME TAX PROVISION	(6,207)	(1,341)	(5,265)	(10,863)
NET INCOME	29,934	8,576	24,964	69,162
LESS NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	19,073	5,256	16,330	42,558
NET INCOME ATTRIBUTABLE TO THE COMPANY	$ 10,861	$ 3,320	$ 8,634	$ 26,604
Common Class A
NET INCOME ATTRIBUTABLE TO THE COMPANY PER CLASS A and B SHARE
Basic (in dollars per share)	$ 0.15	$ 0.05	$ 0.12	$ 0.38
Diluted (in dollar per share)	$ 0.15	$ 0.05	$ 0.12	$ 0.36
WEIGHTED AVERAGE CLASS A and B SHARES OUTSTANDING
Basic (in shares)	72,138,474	69,763,845	71,828,813	69,639,492
Diluted (in shares)	149,093,240	148,724,073	149,303,258	148,743,245
Common Class B
NET INCOME ATTRIBUTABLE TO THE COMPANY PER CLASS A and B SHARE
Basic (in dollars per share)	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Diluted (in dollar per share)	$ 0.00	$ 0.00	$ 0.00	$ 0.00
WEIGHTED AVERAGE CLASS A and B SHARES OUTSTANDING
Basic (in shares)	76,096,410	79,233,544	76,096,410	79,233,544
Diluted (in shares)	76,096,410	79,233,544	76,096,410	79,233,544
Land sales
COSTS AND EXPENSES:
Cost and expenses	$ 0	$ 0	$ 0	$ 0
Land sales \| Nonrelated Party
REVENUES:
Revenues	(211)	(16)	(211)	82
Land sales \| Related Party
REVENUES:
Revenues	(1,211)	0	(1,211)	0
Management services
COSTS AND EXPENSES:
Cost and expenses	5,587	2,330	12,481	5,391
Management services \| Related Party
REVENUES:
Revenues	14,712	6,959	27,696	19,510
COSTS AND EXPENSES:
Cost and expenses	0	0	0	0
Operating properties
COSTS AND EXPENSES:
Cost and expenses	1,605	1,773	3,185	3,260
Operating properties \| Nonrelated Party
REVENUES:
Revenues	$ 612	$ 530	$ 1,209	$ 1,038

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 24,964	$ 69,162
Adjustments to reconcile net income to net cash used in operating activities:
Equity in earnings from unconsolidated entities	(40,885)	(88,584)
Deferred income taxes	5,246	9,107
Depreciation and amortization	3,659	3,275
Share-based compensation	3,872	2,934
Changes in operating assets and liabilities:
Inventories	(80,050)	(100,602)
Related party assets	2,334	18,197
Other assets	(1,597)	(583)
Accounts payable and other liabilities	2,236	54
Related party liabilities	(11,070)	1,215
Net cash used in operating activities	(54,652)	(14,902)
CASH FLOWS FROM INVESTING ACTIVITIES:
Contributions to unconsolidated entities	(4,093)	0
Purchase of properties and equipment	(176)	(98)
Net cash provided by investing activities	32,225	42,443
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of financing costs	(400)	0
Related party reimbursement obligation	(42,167)	0
Reacquisition of share-based compensation awards for tax-withholding purposes	(6,541)	(1,776)
Repurchases of Class A common shares	(3,091)	0
Payment under tax receivable agreement	(724)	0
Distributions to redeemable noncontrolling interests	(1,814)	0
Net cash used in financing activities	(54,737)	(1,776)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(77,164)	25,765
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period	426,538	431,867
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period	349,374	457,632
Great Park
Adjustments to reconcile net income to net cash used in operating activities:
Equity in earnings from unconsolidated entities	(38,614)	(87,546)
Return on investment	34,366	70,854
CASH FLOWS FROM INVESTING ACTIVITIES:
Return of investment	0	41,998
Gateway Commercial Venture
Adjustments to reconcile net income to net cash used in operating activities:
Equity in earnings from unconsolidated entities	(700)	(600)
Return on investment	661	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Return of investment	32,792	0
Other Equity Method Investments
Adjustments to reconcile net income to net cash used in operating activities:
Return on investment	1,612	69
CASH FLOWS FROM INVESTING ACTIVITIES:
Return of investment	$ 3,702	$ 543

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
INVENTORIES	$ 2,524,356	$ 2,443,279
INVESTMENT IN UNCONSOLIDATED ENTITIES	124,904	153,087
PROPERTIES AND EQUIPMENT, NET	29,217	29,264
INTANGIBLE ASSETS, NET—RELATED PARTY	15,389	17,250
GOODWILL	69,812	69,812
CASH AND CASH EQUIVALENTS	348,382	425,546
RESTRICTED CASH AND CERTIFICATES OF DEPOSIT	992	992
TOTAL	3,220,186	3,249,003
LIABILITIES:
Notes payable, net	444,048	443,348
Accounts payable and other liabilities	107,994	106,199
Related party liabilities	17,736	70,973
Deferred income tax liability, net	63,602	58,343
Payable pursuant to tax receivable agreement	181,501	181,544
Total liabilities	814,881	860,407
COMMITMENTS AND CONTINGENT LIABILITIES (Note 12)
REDEEMABLE NONCONTROLLING INTERESTS	69,920	70,155
CAPITAL:
Contributed capital	613,863	616,751
Retained earnings	236,677	228,043
Accumulated other comprehensive loss	(1,545)	(1,549)
Total members’ capital	848,995	843,245
Noncontrolling interests	1,486,390	1,475,196
Total capital	2,335,385	2,318,441
TOTAL	3,220,186	3,249,003
Related Party
ASSETS
OTHER ASSETS	87,175	89,509
LIABILITIES:
Related party liabilities	17,736	70,973
Nonrelated Party
ASSETS
OTHER ASSETS	$ 19,959	$ 20,264