Five Point Holdings, LLC (Nasdaq: FPH) posted a net loss of $5 million for the first quarter of 2026, primarily due to no major residential land closings during the quarter, President Dan Hedigan said during the company’s earnings calls on Thursday.
The Irvine-based developer earned $13.6 million in revenue, with most of it coming from management services tied to its Great Park and Hearthstone segments, he said.
Company officials reported steady builder sales during the quarter, with 82 homes sold in the Great Park Neighborhoods in Irvine and 90 in the Valencia community in Los Angeles County.
Despite the loss this quarter, Hedigan said he expects the company to reach $100 million in consolidated net income in the second half of the year.
“As we look ahead, we continue to expect our earnings in 2026 to be weighted towards the third and fourth quarters as land sales close and fee-based income from Hearthstone grows,” Hedigan said.
