Earnings release
Page 1
Exhibit 99.1 Five Point Holdings, LLC Reports Third Quarter 2026 Results Third Quarter 2026 Highlights • Great Park Venture distributions and incentive compensation payments to the Company totaled $40.4 million. • Great Park builder sales of 54 homes during the quarter. • Valencia builder sales of 92 homes during the quarter. • Renewed the development management agreement with Great Park Venture through December 31, 2028. • Consolidated revenues of $14.6 million; consolidated net loss of $4.4 million. • Cash and cash equivalents of $358.7 million as of September 30, 2026. • Debt to total capitalization ratio of 16.2% and liquidity of $576.2 million as of September 30, 2026. Irvine, CA, October 22, 2026 (Business Wire) – Five Point Holdings, LLC (“Five Point” or the “Company”) (NYSE:FPH), an owner and developer of large mixed-use planned communities in California, today reported its third quarter 2026 results. Dan Hedigan, President and Chief Executive Officer, said, “During the third quarter, Five Point generated consolidated revenues of $14.6 million and maintained a strong financial position, ending the quarter with $358.7 million of cash and cash equivalents and total liquidity of $576.2 million. Although current housing market conditions have impacted homebuyer demand, we continue to make meaningful progress in advancing our California communities and developing our recurring fee-based revenue streams at Hearthstone and the Great Park. During the quarter, we renewed our Development Management Agreement at the Great Park through December 2028, secured important entitlement approvals at Valencia for our Homestead South development, and marked a significant milestone with a groundbreaking at Candlestick in San Francisco. Given the current housing market environment, we will likely elect to defer certain land sales previously anticipated to close in 2026 rather than transact in a less favorable market. Accordingly, we are revising our full-year 2026 guidance to approximately $20 million in consolidated net income. Importantly, this revised outlook reflects the anticipated timing of land sales rather than a change in our view of the value of our land. Our strong balance sheet provides us with the flexibility to remain patient and disciplined in our approach to monetizing these irreplaceable assets. We remain confident in the long-term value of our California communities, the growth potential of Hearthstone and our ability to create meaningful value for our shareholders.” Consolidated Results Liquidity and Capital Resources As of September 30, 2026, total liquidity of $576.2 million was comprised of cash and cash equivalents totaling $358.7 million and borrowing availability of $217.5 million under our unsecured revolving credit facility. Total capital was $2.3 billion, reflecting $3.2 billion in assets and $0.9 billion in liabilities and redeemable noncontrolling interests. Results of Operations for the Three Months Ended September 30, 2026 Revenues. Revenues of $14.6 million for the three months ended September 30, 2026 were primarily generated from management services at our Great Park and Hearthstone segments. Equity in loss from unconsolidated entities. Equity in loss from unconsolidated entities was $2.2 million for the three months ended September 30, 2026. The Great Park Venture generated a net loss of $7.1 million during the three months ended September 30, 2026, and our share of the net loss from our 37.5% percentage interest was $2.7 million. The Great Park Venture made aggregate distributions of $84.9 million to holders of percentage interests during the three months ended September 30, 2026. We received $31.8 million for our 37.5% percentage interest. Selling, general, and administrative. Selling, general, and administrative expenses were $12.5 million for the three months ended September 30, 2026. Net loss. Consolidated net loss for the quarter was $4.4 million. Net loss attributable to noncontrolling interests totaled $1.8 million, resulting in net loss attributable to the Company of $2.6 million. Net loss attributable to noncontrolling interests primarily represents the portion of loss allocated to related party partners and members that hold units of the operating company and the San Francisco Venture. Holders of units of the operating company and the San Francisco Venture can redeem their interests for either, at our election, our Class A common shares on a one-for-one basis or cash. In connection with any redemption or exchange, our ownership of our operating subsidiaries will increase thereby reducing the amount of income or loss allocated to noncontrolling interests in subsequent periods. 1
Page 2
Conference Call Information In conjunction with this release, Five Point will host a conference call on Thursday, October 22, 2026 at 5:00 p.m. Eastern Time. Interested investors and other parties can listen to a live Internet audio webcast of the conference call that will be available on the Five Point website at ir.fivepoint.com. The conference call can also be accessed by dialing (877) 451-6152 (domestic) or (201) 389-0879 (international). A telephonic replay will be available starting approximately three hours after the end of the call by dialing (844) 512-2921, or for international callers, (412) 317-6671. The passcode for the live call and the replay is 13763397. The telephonic replay will be available until 11:59 p.m. Eastern Time on November 1, 2026. About Five Point Five Point, headquartered in Irvine, California, designs and develops large mixed-use 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. Five Point’s 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. These communities are designed to include up to approximately 40,000 residential homes and up to approximately 20 million square feet of commercial space. Five Point’s Hearthstone platform provides management services to residential land banking funds and oversees approximately $3.4 billion in assets under management. Forward-Looking Statements This press release contains forward-looking statements that are subject to risks and uncertainties. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. When used, the words “anticipate,” “believe,” “expect,” “intend,” “may,” “might,” “plan,” “estimate,” “project,” “should,” “will,” “would,” “result” and similar expressions that do not relate solely to historical matters are intended to identify forward-looking statements. Forward-looking statements include, among others, statements that refer to: our expectations of our future home sales and/or builder sales; the impact of inflation and interest rates; our future revenues, costs and financial performance, including with respect to cash generation and profitability; future demographics and market conditions, including housing supply levels, in the areas where our communities are located; the timing and expected benefits of our share repurchase program and other planned and potential transactions and acquisitions; and other statements that are not historical in nature. We caution you that any forward-looking statements included in this press release are based on our current views and information currently available to us. Forward-looking statements are subject to risks, trends, uncertainties and factors that are beyond our control. Some of these risks and uncertainties are described in more detail in our filings with the SEC, including our Annual Report on Form 10-K, under the heading “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. We caution you therefore against relying on any of these forward-looking statements. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. They are based on estimates and assumptions only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. Investor Relations: Kim Tobler, 949-425-5211 Kim.Tobler@fivepoint.com or Media: Eric Morgan, 949-349-1088 Eric.Morgan@fivepoint.com Source: Five Point Holdings, LLC ® ® ® ® 2
Page 3
FIVE POINT HOLDINGS, LLC CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 REVENUES: Land sales $ — $ (12) $ (211) $ 70 Land sales—related party — — (1,211) — Management services—related party 13,932 12,826 41,628 32,336 Operating properties 683 674 1,892 1,712 Total revenues 14,615 13,488 42,098 34,118 COSTS AND EXPENSES: Land sales — — — — Management services 5,642 5,455 18,123 10,846 Operating properties 1,512 1,631 4,697 4,891 Selling, general, and administrative 12,537 14,294 41,580 44,645 Total costs and expenses 19,691 21,380 64,400 60,382 OTHER INCOME: Interest income 2,796 4,484 8,722 13,501 Loss on debt extinguishment — (1,824) — (1,824) Miscellaneous 69 8 713 804 Total other income 2,865 2,668 9,435 12,481 EQUITY IN (LOSS) EARNINGS FROMUNCONSOLIDATED ENTITIES (2,183) 70,137 38,702 158,721 (LOSS) INCOME BEFORE INCOME TAX BENEFIT(PROVISION) (4,394) 64,913 25,835 144,938 INCOME TAX BENEFIT (PROVISION) 4 (9,199) (5,261) (20,062) NET (LOSS) INCOME (4,390) 55,714 20,574 124,876 LESS NET (LOSS) INCOME ATTRIBUTABLE TONONCONTROLLING INTERESTS (1,810) 34,643 14,520 77,201 NET (LOSS) INCOME ATTRIBUTABLE TO THECOMPANY $ (2,580)$ 21,071 $ 6,054 $ 47,675 NET (LOSS) INCOME ATTRIBUTABLE TO THECOMPANY PER CLASS A SHARE Basic $ (0.04)$ 0.30 $ 0.08 $ 0.68 Diluted $ (0.04)$ 0.28 $ 0.08 $ 0.65 WEIGHTED AVERAGE CLASS A SHARESOUTSTANDING Basic 71,783,254 69,796,339 71,813,460 69,692,349 Diluted 71,783,254 149,430,920 149,180,581 149,267,968 NET (LOSS) INCOME ATTRIBUTABLE TO THECOMPANY PER CLASS B SHARE Basic and diluted $ (0.00)$ 0.00 $ 0.00 $ 0.00 WEIGHTED AVERAGE CLASS B SHARESOUTSTANDING Basic and diluted 76,096,410 79,233,544 76,096,410 79,233,544 3
Page 4
FIVE POINT HOLDINGS, LLC CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except shares) (Unaudited) September 30, 2026 December 31, 2025 ASSETS INVENTORIES $ 2,563,106 $ 2,443,279 INVESTMENT IN UNCONSOLIDATED ENTITIES 89,178 153,087 PROPERTIES AND EQUIPMENT, NET 29,140 29,264 INTANGIBLE ASSETS, NET—RELATED PARTY 14,562 17,250 GOODWILL 69,812 69,812 CASH AND CASH EQUIVALENTS 358,716 425,546 RESTRICTED CASH AND CERTIFICATES OF DEPOSIT 992 992 RELATED PARTY ASSETS 83,762 89,509 OTHER ASSETS 18,255 20,264 TOTAL $ 3,227,523 $ 3,249,003 LIABILITIES AND CAPITAL LIABILITIES: Notes payable, net $ 444,399 $ 443,348 Accounts payable and other liabilities 117,759 106,199 Related party liabilities 18,056 70,973 Deferred income tax liability, net 63,707 58,343 Payable pursuant to tax receivable agreement 181,088 181,544 Total liabilities 825,009 860,407 REDEEMABLE NONCONTROLLING INTERESTS 69,927 70,155 CAPITAL: Class A common shares; No par value; Issued and outstanding: September 30,2026—71,920,334 shares; December 31, 2025—71,100,768 shares Class B common shares; No par value; Issued and outstanding: September 30,2026—76,096,410 shares; December 31, 2025—76,096,410 shares Contributed capital 617,116 616,751 Retained earnings 234,097 228,043 Accumulated other comprehensive loss (1,551) (1,549) Total members’ capital 849,662 843,245 Noncontrolling interests 1,482,925 1,475,196 Total capital 2,332,587 2,318,441 TOTAL $ 3,227,523 $ 3,249,003 4
Page 5
FIVE POINT HOLDINGS, LLC SUPPLEMENTAL DATA (In thousands) (Unaudited) Liquidity September 30, 2026 Cash and cash equivalents $ 358,716 Borrowing capacity 217,500 Total liquidity $ 576,216 (1) As of September 30, 2026, no borrowings or letters of credit were outstanding on the Company’s $217.5 million revolving credit facility. Debt to Total Capitalization and Net Debt to Total Capitalization September 30, 2026 Debt $ 450,000 Total capital 2,332,587 Total capitalization $ 2,782,587 Debt to total capitalization 16.2 % Debt $ 450,000 Less: Cash and cash equivalents 358,716 Net debt 91,284 Total capital 2,332,587 Total net capitalization $ 2,423,871 Net debt to total capitalization 3.8 % (1) For purposes of this calculation, debt is the amount due on the Company’s notes payable before offsetting for capitalized deferred financing costs. (2) Net debt to total capitalization is a non-GAAP financial measure defined as net debt (debt less cash and cash equivalents) divided by total net capitalization (net debt plus total capital). The Company believes the ratio of net debt to total capitalization is a relevant and a useful financial measure to investors in understanding the leverage employed in the Company’s operations. However, because net debt to total capitalization is not calculated in accordance with GAAP, this financial measure should not be considered in isolation or as an alternative to financial measures prescribed by GAAP. Rather, this non-GAAP financial measure should be used to supplement the Company’s GAAP results. (1) (1) (1) (2) 5
Page 6
Segment Results The following tables reconcile the results of operations of our segments to our consolidated results for the three and nine months ended September 30, 2026 (in thousands): Three Months Ended September 30, 2026 Valencia SanFrancisco Great Park Hearthstone Totalreportablesegments Corporate andunallocated Total undermanagement Removal ofunconsolidatedentities Totalconsolidated REVENUES: Land sales $ — $ — $ 506 $ — $ 506 $ — $ 506 $ (506) $ — Land sales—related party — — — — — — — — — Management services—related party — — 7,410 6,522 13,932 — 13,932 — 13,932 Operating properties 493 190 — — 683 — 683 — 683 Total revenues 493 190 7,916 6,522 15,121 — 15,121 (506) 14,615 COSTS AND EXPENSES: Land sales — — — — — — — — — Management services — — 1,618 4,024 5,642 — 5,642 — 5,642 Operating properties 1,512 — — — 1,512 — 1,512 — 1,512 Selling, general, andadministrative 1,680 1,121 2,043 — 4,844 9,736 14,580 (2,043) 12,537 Management fees—relatedparty — — 7,519 — 7,519 — 7,519 (7,519) — Total costs and expenses 3,192 1,121 11,180 4,024 19,517 9,736 29,253 (9,562) 19,691 OTHER INCOME: Interest income — — 1,967 33 2,000 2,763 4,763 (1,967) 2,796 Miscellaneous 69 — — — 69 — 69 — 69 Total other income 69 — 1,967 33 2,069 2,763 4,832 (1,967) 2,865 EQUITY IN EARNINGS(LOSS) FROMUNCONSOLIDATEDENTITIES 19 — — 456 475 — 475 (2,658) (2,183) SEGMENT (LOSS)PROFIT/LOSS BEFOREINCOME TAX BENEFIT (2,611) (931) (1,297) 2,987 (1,852) (6,973) (8,825) 4,431 (4,394) INCOME TAX BENEFIT — — — — — 4 4 — 4 SEGMENT (LOSS)PROFIT/NET LOSS $ (2,611) $ (931) $ (1,297) $ 2,987 $ (1,852) $ (6,969) $ (8,821) $ 4,431 $ (4,390) (1) Represents the removal of the Great Park Venture operating results, which are included in the Great Park segment operating results at 100% of the venture’s historical basis but are not included in our consolidated results as we account for our investment in the venture using the equity method of accounting. (2) The amounts for the Great Park segment represent the revenues and expenses attributable to the management company for providing services to the Great Park Venture as applicable. (1) (2) (2) 6
Page 7
Nine Months Ended September 30, 2026 Valencia SanFrancisco Great Park Hearthstone Total reportablesegments Corporate andunallocated Total undermanagement Removal of unconsolidatedentities Totalconsolidated REVENUES: Land sales $ (211) $ — $ 165,784 $ — $ 165,573 $ — $ 165,573 $ (165,784) $ (211) Land sales—related party (1,211) — — — (1,211) — (1,211) — (1,211) Management services—related party — — 23,398 18,230 41,628 — 41,628 — 41,628 Operating properties 1,345 547 — — 1,892 — 1,892 — 1,892 Total revenues (77) 547 189,182 18,230 207,882 — 207,882 (165,784) 42,098 COSTS AND EXPENSES: Land sales — — 37,622 — 37,622 — 37,622 (37,622) — Management services — — 6,080 12,043 18,123 — 18,123 — 18,123 Operating properties 4,697 — — — 4,697 — 4,697 — 4,697 Selling, general, andadministrative 6,532 4,108 5,605 — 16,245 30,940 47,185 (5,605) 41,580 Management fees—relatedparty — — 23,665 — 23,665 — 23,665 (23,665) — Total costs and expenses 11,229 4,108 72,972 12,043 100,352 30,940 131,292 (66,892) 64,400 OTHER INCOME: Interest income — 2 5,456 66 5,524 8,654 14,178 (5,456) 8,722 Miscellaneous 713 — — — 713 — 713 — 713 Total other income 713 2 5,456 66 6,237 8,654 14,891 (5,456) 9,435 EQUITY IN EARNINGSFROM UNCONSOLIDATEDENTITIES 538 — — 1,547 2,085 661 2,746 35,956 38,702 SEGMENT (LOSS)PROFIT/INCOME BEFOREINCOME TAX PROVISION (10,055) (3,559) 121,666 7,800 115,852 (21,625) 94,227 (68,392) 25,835 INCOME TAX PROVISION — — — — — (5,261) (5,261) — (5,261) SEGMENT (LOSS)PROFIT/NET INCOME $ (10,055) $ (3,559) $ 121,666 $ 7,800 $ 115,852 $ (26,886) $ 88,966 $ (68,392) $ 20,574 (1) Represents the removal of the Great Park Venture operating results, which are included in the Great Park segment operating results at 100% of the venture’s historical basis but are not included in our consolidated results as we account for our investment in the venture using the equity method of accounting. (2) The amounts for the Great Park segment represent the revenues and expenses attributable to the management company for providing services to the Great Park Venture as applicable. The table below reconciles the Great Park segment results to the equity in (loss) earnings from our investment in the Great Park Venture that is reflected in the condensed consolidated statements of operations for the three and nine months ended September 30, 2026 (in thousands): Three Months EndedSeptember 30, 2026 Nine Months EndedSeptember 30, 2026 Segment (loss) profit from operations $ (1,297) $ 121,666 Less net income of management company attributed tothe Great Park segment 5,792 17,318 Net (loss) income of the Great Park Venture (7,089) 104,348 The Company’s share of net (loss) income of the Great ParkVenture (2,658) 39,131 Basis difference amortization — (3,175) Equity in (loss) earnings from the Great Park Venture $ (2,658) $ 35,956 (1) (2) (2) 7