Howard Hughes Earnings Reports

Howard Hughes Holdings Inc. delivered strong financial results in Q2 2025, despite a net loss from continuing operations due to a one-time GAAP loss on MUD receivables. The company saw record pricing for residential land sales in its MPCs and robust Net Operating Income (NOI) growth in its Operating Assets, particularly in office and multifamily sectors. A major highlight was the $900 million investment from Pershing Square, aimed at transforming HHH into a diversified holding company. The company also raised its full-year 2025 guidance for Adjusted Operating Cash Flow, MPC EBT, and Operating Assets NOI.

Howard Hughes Holdings Inc. delivered a strong first quarter in 2025, with net income from continuing operations at $10.8 million, a significant improvement from a loss in the prior year. Adjusted Operating Cash Flow reached $63 million, and Total Operating Assets Net Operating Income (NOI) hit a new quarterly record of $72 million, driven by strong performance in office and multifamily segments. The company also saw robust MPC EBT of $63 million, fueled by residential land sales, and secured significant capital infusion from Pershing Square to support future growth and diversification.

Howard Hughes Holdings Inc. reported a net income of $34.3 million, or $0.69 per diluted share, for the fourth quarter of 2023. This was primarily driven by increased earnings from MPC land sales, partially offset by the timing of condo sales compared to the prior year. The company also saw strong performance in its Operating Assets segment, with multi-family NOI increasing by 23% year-over-year.

Howard Hughes Holdings Inc. reported a net income of $96.5 million for the third quarter of 2024, with diluted EPS of $1.95. The company achieved a record MPC EBT of $145 million, a 184% year-over-year increase in residential land sales revenue, and an 8% year-over-year increase in Operating Assets NOI to $65 million. The company also completed the spinoff of Seaport Entertainment Group and raised its full-year guidance for MPC EBT and Operating Assets NOI.

Howard Hughes Holdings Inc. delivered outstanding results in Q2 2024, with net income of $21.1 million, a significant improvement from a prior-year loss. This was driven by robust residential land sales in MPCs, strong Operating Assets NOI, and exceptional pre-sales activity for condominiums. The company also increased its full-year guidance for Operating Assets NOI and condo sales revenue.

Howard Hughes Holdings Inc. reported a net loss of $52.5 million for Q1 2024, or $(1.06) per diluted share, compared to a net loss of $22.7 million, or $(0.46) per diluted share, in the prior-year period. Total revenues were $171.1 million. Operating Assets NOI increased 7% year-over-year to $63.5 million, driven by improved performance in office and multi-family segments. New home sales in HHH's communities increased 24% sequentially to 654 units, indicating strong demand for residential land sales.

The Howard Hughes Corporation reported a net income of $52.8 million for the fourth quarter of 2022, with diluted EPS of $1.07. Full-year net income reached $184.5 million, or $3.65 per diluted share, driven by record condo sales and strong Master Planned Community earnings.