Stronger-than-Expected Net Income
Five Point Holdings reported a net income of $60.6 million for Q1, exceeding guidance by $10 million.
Successful Residential Land Sales
The Great Park Venture secured sales of 325 homesites on 23.6 acres for $278.9 million.
Increased Liquidity
Five Point ended the quarter with total liquidity of $653.3 million, including $528.3 million in cash.
Credit Rating Upgrade
Five Point received a credit rating upgrade from S&P from B- to B, with senior notes upgraded from B to B+.
Steady Home Sales in Great Park
Builders sold 233 homes in Q1 at Great Park, up from 143 homes in Q4 2024.