Five Point Holdings, LLC (NYSE:FPH) Q4 2023 Earnings Conference Call January 18, 2024 5:00 PM ET

Company Participants

Dan Hedigan - Chief Executive Officer

Kim Tobler - Chief Financial Officer

Conference Call Participants

Alan Ratner - Zelman & Associates

Myron Kaplan - Private Investor

Operator

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

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 would like to turn the call over to Dan Hedigan, Chief Executive Officer. Please go ahead.

Dan Hedigan

Thank you. Good afternoon and thank you for joining our call. I'm going to start off by telling you that I have picked up the cold that seems to be going around to a lot of people. So if I don't sound like myself, that's the reason.

I have with me today, Kim Tobler, our Chief Financial Officer; Mike Alvarado, our Chief Legal Officer; and Leo Kij, our Senior Vice President of Finance and Reporting; Stuart Miller, our Executive Chairman, is joining us remotely.

In my remarks, I'll update you on our Q4 and year-end results, on our team's focus during the quarter and on the steps we are taking to implement our strategic priorities. Next, Kim will give an overview of the company's financial performance and condition. We'll then open the line for questions to our management team.

So let's begin. First, let me congratulate our team on a very strong quarter and year. We started the year [Technical Difficulty] but there's still somewhat uncertain about the market and reluctant to make commitments to acquire additional home sites. And we finished the year with capital markets making it more difficult for commercial developers to pursue new speculative development projects.