NYSE$HHH

Howard Hughes Holdings Inc · Q2 2025 earnings

Q2 2025 earnings · · After market close · Investor relations

Briefing

Howard Hughes Holdings reported Q2 2025 revenue of $260.9M, a net loss of $12.1M.

For Q2 2025, Howard Hughes Holdings reported Revenue was $260.9M, net loss was $12.1M. Management discusses segment trends, liquidity, and outlook in the quarterly filing.

  • Revenue $260.9M for Q2 2025.
  • Net loss $12.1M.
  • MD&A highlights operating priorities, liquidity, and sector risks.

Headline financials

Total Revenue

$261M

Previous: $317M-17.8%
EPS (adj)

$1.64

Previous: $0.42+290.5%
MPC EBT

$102M

No prior period
Total Operating Assets NOI

$68.9M

No prior period
Residential acres sold

111

No prior period
Residential price per acre

$1.35M

No prior period
New homes sold

487

No prior period
Multifamily NOI

$16.9M

No prior period
Retail NOI

$13.4M

No prior period
Office NOI

$35.2M

No prior period
Condo units contracted to sell

17

No prior period
Stabilized multifamily leased %

97.0%

No prior period
Stabilized office leased %

89.0%

No prior period
Capital Expenditures

-$118M

Previous: -$150M+21.7%
Net Income

-$12.1M

Previous: $21.1M-157.7%
Operating Income

$67.9M

Previous: $64.7M+4.8%

Revenue & EPS history

Howard Hughes · Revenue · Quarterly

$261M

Q2 2025-17.8%vs Q2 2024
Beat estimate in 2 of 4 quarters(50%)
ActualEstimate

Revenue by segment

Howard Hughes · $482M total across 5 segments · Q4 2022

  • Condominium rights and unit sales
    $217M
  • Master Planned Communities land sales
    $117M
  • Rental revenue
    $103M
  • Other land, rental, property revenues
    $24.6M
  • Builder price participation
    $19.9M

Forward guidance

Real assets outlook focuses on occupancy, rent growth, and financing costs.

Tailwinds

  • Portfolio cash flows and leasing momentum.
  • Development and acquisition pipelines.

Headwinds

  • Interest rates and cap rates affect NAV.
  • Tenant health and supply in key markets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 11 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

+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

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
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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