Five Point Holdings, LLC (NYSE:FPH) Q3 2023 Earnings Conference Call October 19, 2023 5:00 PM ET

Company Participants

Dan Hedigan - Chief Executive Officer

Kim Tobler - Chief Financial Officer

Conference Call Participants

Arun Seshadri - BNP Paribas

Alan Ratner - Zelman & Associates

Myron Kaplan - Private Investor

Ben Fader-Rattner - Space Summit Capital

Kyle Chung - Private Investor

Operator

Greetings and welcome to the Five Point Holdings LLC Third Quarter 2023 Conference Call. As a reminder this call is being recorded. Today's conference may include forward-looking statements regarding Five Point business financial condition, operations, cash flow, strategy, and perspectives.

Forward-looking statements represent Five Point’s estimates on the date of this conference call and are not intended to give any assurance as to the actual future results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Many factors could affect future results and may cause Five Point’s actual activities or results to differ materially from the activities and results anticipated in forward-looking statements.

These factors include those described in today's press release and Five Point’s SEC filings, including those in the risk factor section of Five Point’s most recent annual report on Form 10-K, filed with the SEC. Please note that Five Point assumes no obligation to update any forward-looking statements.

Now I'd like to turn the call over to Dan Hedigan, Chief Executive Officer.

Thank you. Good afternoon and thank you for joining our call. I have with me today Kim Tobler, our Chief Financial Officer; Mike Alvarado, our Chief Legal Officer, and Leo Kij, our former Interim Chief Financial Officer, who is now our Senior Vice President of Finance and Reporting; Stuart Miller, our Executive Chairman, is joining us remotely.

Before we get into the quarterly update, I'd like to mention some positive news on recent management changes. Since our last call, Kim Tolber was promoted from his position as Vice President of Treasury and Tax to his new role as Chief Financial Officer. Kim brings a great deal of valuable background and experience to this position and is well suited to help us navigate the current economic environment and execute on our business priorities. Congratulations, Kim.

We are all very appreciative of the great job Leo Kij did as an Interim CFO, and I personally very much appreciated his assistance as we focused our attention on right-sizing our SG&A to position us to achieve our long-term goals. Thank you, Leo.