Earnings Call

FivePoint Holdings, LLC Q2 FY2026 Earnings Call

With Dan Hedigan (President and CEO), Mike Alvarado (COO and Chief Legal Officer) and Kim Tobler (CFO).

FPH

Fiscal Q2 2026

July 23, 2026

17 min read

1 question

FivePoint, headquartered in Irvine, California, designs and develops large mixed-use, master-planned communities in Orange County, Los Angeles County, and San Francisco County that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks and open space.

More about FivePoint Holdings, LLC

Five Point’s communities include the Great Park Neighborhoods® in Irvine, Valencia® (formerly known as Newhall Ranch®) in Los Angeles County, and Candlestick® and The San Francisco Shipyard® in the City of San Francisco. These communities are designed to include approximately 40,000 residential homes and approximately 23 million square feet of commercial space.

1Prepared remarks3 speakers

Operator Greetings, and welcome to the Five Point Holdings second quarter 2026 conference call. As a reminder, this call is being recorded. Today's call may include forward-looking statements regarding Five Point's business, financial condition, operations, cash flow, strategy, acquisitions, and prospects. Forward-looking statements represent Five Point's estimates on the date of this conference call and are not intended to give any assurance as to actual future results. Because forward-looking statements relate to matters…

Dan HediganPresident and CEO

Thank you. Good afternoon, and thank you for joining us. I have with me today Mike Alvarado, our Chief Operating Officer and Chief Legal Officer, Kim Tobler, our Chief Financial Officer, and Leo Kij, our Senior Vice President of Finance and Reporting. Today, I'll review our second quarter results, discuss the progress we've made in executing our strategy, and share why we believe Five Point is becoming a stronger, more diversified company that is positioned to create long-term shareholder value. Mike will then…

Mike AlvaradoCOO and Chief Legal Officer

Thanks, Dan. Let me start by providing you with some updates on our communities, starting with The Great Park Neighborhoods. At The Great Park, the second quarter highlighted the depth and flexibility of this community. As Dan mentioned, during the quarter, The Great Park Venture closed a sale of approximately 17.7 acres of land planned for a senior living retirement community for a purchase price of approximately $159 million.

While this retirement community will be the first in our master plans here in…

Kim ToblerCFO

Thank you, Mike. As Dan mentioned, I will share additional information about our financial results for the second quarter. Our second quarter consolidated net income was $29.9 million and was largely made up of the following components. We had $14.7 million of management services revenue, $9.1 million of which was derived from our management of the Great Park Venture, $5.8 million of which was incentive compensation earned from the Great Park, and $5.6 million earned from our Hearthstone asset management platform.

W…