Five Point Holdings, LLC Reports Strong Fourth Quarter and Year-End 2024 Results

Five Point Holdings, LLC, listed on the New York Stock Exchange under the ticker symbol FPH, revealed its financial outcomes for the fourth quarter and the culmination of 2024. The highlights of the fourth quarter included significant home site sales at Valencia and Great Park Venture, with Valencia selling 493 homesites for $137.9 million and Great Park Venture selling 372 homesites for $309.3 million. The Company also reported builder sales of 74 homes at Valencia and 143 homes at Great Park during this period.

Moreover, consolidated revenues for the quarter totaled $159.8 million, with net income reaching $121.0 million. The Company maintained strong liquidity with cash and cash equivalents amounting to $430.9 million as of December 31, 2024. Furthermore, the debt to total capitalization ratio was noted at 19.6%, and liquidity stood at $555.9 million by the year-end.

Noteworthy achievements for the whole of 2024 involved Great Park Venture recognizing land sales revenue of $505.3 million and distributions totaling $231.0 million. The Company reported consolidated revenues of $237.9 million and net income of $177.6 million for the full year. Other key points of note included the upgrade of the Corporate Rating to B- by S&P Global Ratings in April, medium-term agreements renewed with Great Park Venture, and debt restructuring in January 2024.

Dan Hedigan, Chief Executive Officer of Five Point, expressed satisfaction with the strong performance throughout 2024, highlighting the seventh consecutive quarter of reporting net income and new high-water marks in net income for both the quarter and the year. He emphasized the strategic positioning of the Company to pursue new growth opportunities in 2025, projecting an estimated 10% annual earnings growth and a potential net income close to $200 million for the upcoming year.

The company will be hosting a conference call on January 23, 2025, at 5:00 p.m. Eastern Time to discuss these results and expectations for the future. Interested parties can access the call via the Five Point website.

Five Point, headquartered in Irvine, California, specializes in developing large mixed-use planned communities in California, combining residential, commercial, retail, and recreational elements with public amenities. The Company’s flagship communities include the Great Park Neighborhoods in Irvine, Valencia in Los Angeles County, and Candlestick and The San Francisco Shipyard in the City of San Francisco, designed to accommodate approximately 40,000 residential homes and up to 23 million square feet of commercial space.

The financial report, along with the strategic outlook for 2025 and the forecasted growth, underscores Five Point’s resilience and potential for sustained development in the coming year. Investors and stakeholders are keenly observing the Company’s trajectory in the vibrant real estate landscape across California.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Five Point’s 8K filing here.

Five Point Company Profile

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, owns and develops mixed-use and planned communities in Orange County, Los Angeles County, and San Francisco County. The company operates in four segments: Valencia, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates and owns a commercial office, research and development, medical campus, and other properties; and provides development and property management services.