Five Point Holdings, LLC (NYSE:FPH) Q3 2019 Earnings Conference Call - Final Transcript

Nov 08, 2019 • 01:00 pm ET

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Five Point Holdings, LLC (NYSE:FPH) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Executive
Erik Higgins

Venture's historical cost basis.

Commercial segment revenues were $87 -- I'm sorry, were $8.7 million for the quarter. Operating expenses, interest, depreciation and amortization totaled $10 million. Commercial segment loss for the quarter was $1.3 million comprised of $0.1 million of income related to the management company for management fees, offset by $1.4 million loss for the Commercial Gateway Venture operations.

I'll wrap it up with a few comments related to the balance sheet and our liquidity position. As of September 30, 2019, total liquidity was approximately $454 million, which was comprised of cash and cash equivalents totaling $330 million and borrowing capacity under our $124 million -- $125 million revolver. As previously announced in July, the Company closed on $125 million add-on to our 2025 senior notes, increasing our liquidity. Our debt to total cap ratio was 25.1% at the end of the quarter.

With that, I'll turn it back to the operator for questions.