NYSE$HHH
Howard Hughes Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · After market close · Investor relations
Briefing
Howard Hughes reported Q2 2023 results with a net loss of $19.1 million amid strong MPC home sales.
The Howard Hughes Corporation reported a net loss of $19.1 million or $(0.39) per diluted share for the second quarter ended June 30, 2023, compared to net income of $21.6 million in the prior year. MPC EBT was $54.9 million with 605 new home sales, up 39% YoY. Operating Assets NOI reached $68.1 million, up 3% YoY.
- Net loss of $19.1 million or $(0.39) EPS vs. prior year profit.
- MPC EBT $54.9 million; 605 homes sold, +39% YoY.
- Operating Assets NOI $68.1 million, +3% YoY.
- 43 condo units contracted at Ward Village; 15 units closed for $14.9M revenue.
Headline financials
Revenue & EPS history
Howard Hughes · Revenue · Quarterly
$0
Revenue by segment
Howard Hughes · $482M total across 5 segments · Q4 2022
- Condominium rights and unit sales$217M—45.1%
- Master Planned Communities land sales$117M—24.3%
- Rental revenue$103M—21.4%
- Other land, rental, property revenues$24.6M—5.1%
- Builder price participation$19.9M—4.1%
Forward guidance
Updated 2023 guidance: MPC EBT flat to down 10% YoY; Operating Assets NOI up 1-4% YoY (ex-divestitures); Condo sales $40-45M at 10-13% margins.
Tailwinds
- Strong new home sales driving future land sales.
- Increased full-year guidance for MPC EBT and NOI.
Headwinds
- Lower condo revenue and margins expected due to pricing adjustments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 11 quarterly earnings reports
+0.7%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-0.2%
Avg return
30 days after
45%
5 / 11 earnings
Positive
+11.3%
Q3 2025
Best reaction
-9.7%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2023 | — | — | — | |
| Q1 2026 | +3.5% | +1.0% | +2.4% | |
| Q4 2025 | -9.7% | -11.5% | -25.0% | |
| Q3 2025 | +11.3% | +7.3% | +6.5% | |
| Q2 2025 | +1.7% | +4.7% | +14.1% | |
| Q1 2025 | +1.8% | +4.3% | -0.1% | |
| Q4 2024 | +0.4% | -0.2% | +0.3% | |
| Q3 2024 | -0.4% | -1.6% | -2.0% | |
| Q2 2024 | +0.0% | -0.4% | +13.8% | |
| Q1 2024 | +0.0% | -8.1% | -10.3% | |
| Q4 2022 | +0.0% | -3.1% | -4.1% | |
| Q3 2022 | -1.2% | -3.1% | +2.6% |
Discussion
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