Want to see FPH full AI Analyst Report?
EarningsQ2 2026 Earnings Report
FPH Q2 2026 EPS Results
Actual EPS$0.15
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.04
FPH Q2 2026 Revenue Results
Actual Revenue$13.90M
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+86.03%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
FPH Upcoming Earnings
Five Point Holdings's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
FPH Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented several strong positives: a profitable quarter driven by a high-margin transformative land sale, robust joint-venture distributions, substantial liquidity, low leverage, and continued progress on large development projects (including Candlestick). Management emphasized strategic diversification via the Hearthstone asset-management platform to create recurring, fee-based income. Offsetting these positives were moderating home sales sequentially, builder caution that could delay land-sale timing, concentration of near-term earnings in the Great Park sale, and no quarter-over-quarter growth in Hearthstone AUM. On balance, the positive operational and financial foundations and maintained full-year guidance outweigh the short-term execution and market-timing risks.Company Guidance
Quarterly Profitability Driven by Major Land Sale
Consolidated net income of $29.9 million in Q2 2026, largely driven by the Great Park Venture sale of 17.7 acres for $159.3 million (approximately $9.0 million per acre). The Great Park sale produced a 76.5% gross margin and contributed to the Great Park Venture's net income of $114.2 million.
Strong Joint Venture Distributions and Cash Receipts
Received $79.6 million in distributions and incentive compensation from joint ventures in the quarter, including $34.4 million and a $9.3 million incentive payment from the Great Park Venture and a $33.1 million distribution from the Gateway Venture.
Healthy Liquidity and Low Leverage
Ended the quarter with total liquidity of $565.9 million (including $348.4 million in cash and $217.5 million of revolver availability). Debt-to-capital ratio stands at a low 16.2% and net debt was $101.6 million with $0 drawn on the revolver.
Growing Recurring Fee-Based Business (Hearthstone)
Hearthstone assets under management (AUM) remained at $3.4 billion with fee-paying AUM of $2.8 billion, and Five Point recognized $5.6 million of revenue from the Hearthstone platform in the quarter, supporting the firm's strategic diversification into asset management and fee income.
Management Services and Equity Earnings Contribution
Management services revenue totaled $14.7 million (including $9.1 million from Great Park and $5.6 million from Hearthstone) and the company recognized $41.0 million of equity in earnings from unconsolidated entities (of which $39.7 million came from the Great Park Venture).
Operational Progress Across Communities
Active operations: Great Park had 14 actively selling programs with 5 additional programs planned and 5 new residential programs (~28.5 acres) in due diligence; Valencia had 12 active builder programs and 5 planned openings and has sold over 3,000 homesites since 2019. Candlestick (San Francisco) recorded subdivision maps, secured public financing, and is preparing grading with entitlements that allow ~7,200 homes and ~2.8M sq ft of R&D/office.
Maintained Full-Year Guidance
Management did not change prior guidance of approximately $100 million in consolidated net income for fiscal 2026, while noting market timing caveats.
Expense Discipline
SG&A declined to $14.3 million in Q2 from $15.6 million in prior-year Q2, a reduction of ~8.3% year-over-year, demonstrating operating cost control.
FPH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed