Five Point Holdings Swings to $2.2M Net Loss in Q1 2026
The California mixed-use developer posted a net loss of $2.2 million for the quarter ending March 31, reversing a $23.3 million profit a year earlier.
Five Point Holdings, LLC, a Delaware-based owner and developer of mixed-use planned communities in California, reported a net loss of $2.2 million for the three months ending March 31, 2026, a sharp reversal from net income of $23.3 million in the same quarter of 2025. Read more earnings reports.
The company reported total revenue of $13.6 million for the quarter, up slightly from $13.2 million a year earlier. Management-related revenue rose to $13.0 million from $12.6 million, while other revenue increased to $597,000 from $508,000.
Cost of goods sold climbed to $6.9 million from $3.1 million in the prior-year period. Selling, general and administrative expenses held steady at $14.7 million compared to $14.8 million a year earlier.
The company recorded a tax benefit of $942,000 for the quarter, compared to a tax expense of $9.5 million in the first quarter of 2025.
Cash Position Weakens
Cash and cash equivalents declined to $332.6 million as of March 31, 2026, down from $425.5 million at the end of December 2025. The company reported negative cash flow from operations of $44.5 million for the quarter, compared to positive operating cash flow of $56.7 million a year earlier.
Cash used in financing activities totaled $48.2 million, primarily reflecting capital distributions or debt service. Cash used in investing activities was minimal at $281,000.
Balance Sheet
Total assets declined to $3.19 billion as of March 31, 2026, from $3.25 billion at the end of 2025. Total liabilities fell to $810.0 million from $860.4 million over the same period.
Retained earnings slipped to $225.8 million from $228.0 million at year-end 2025. Common shares outstanding increased to 76.1 million from 71.1 million.
Per Share Results
The company reported a loss of $0.03 per diluted share for the quarter, compared to earnings of $0.32 per diluted share in the first quarter of 2025. The weighted average diluted share count was 71.5 million for the quarter, down from 148.8 million a year earlier.
Financial Summary
| Metric | Q1 2026 | Q1 2025 |
|---|---|---|
| Total Revenue | $13.6 million | $13.2 million |
| Cost of Goods Sold | $6.9 million | $3.1 million |
| SG&A Expenses | $14.7 million | $14.8 million |
| Net Income (Loss) | -$2.2 million | $23.3 million |
| EPS (Diluted) | -$0.03 | $0.32 |
| Cash & Equivalents | $332.6 million | $528.3 million |
| Total Assets | $3.19 billion | $3.25 billion |