NYSE$HHH

Howard Hughes Holdings Inc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Howard Hughes Holdings reported Q3 2025 total revenues of $390.2M with net income from continuing operations of $119.4M.

Third-quarter total revenues were $390.2 million versus $327.1 million a year ago, reflecting master-planned community land sales and condominium activity. Net income from continuing operations was $119.4 million; net income attributable to common stockholders was $119.5 million.

  • Q3 total revenues $390.2M.
  • Net income from continuing operations $119.4M.
  • Master-planned community and condo sales drove results.
  • Seaport and mixed-use development pipeline remains active.

Headline financials

Total Revenue

$390M

Previous: $327M+19.3%
EPS (adj)

$2.02

Previous: $1.95+3.6%
MPC EBT

$205M

Previous: $145M+41.6%
Total Operating Assets NOI

$67.9M

Previous: $64.8M+4.7%
Residential acres sold

349

Previous: 191+82.7%
Residential price per acre

$786K

Previous: $1.03M-23.9%
New homes sold

429

Previous: 493-13.0%
Multifamily NOI

$16.2M

Previous: $15.9M+2.1%
Retail NOI

$13.7M

Previous: $12.5M+9.3%
Office NOI

$34M

Previous: $31.8M+7.1%
Condo units contracted to sell

216

No prior period
Stabilized multifamily leased %

96.0%

No prior period
Stabilized office leased %

89.0%

No prior period
Capital Expenditures

-$162M

Previous: -$211M+23.3%
Net Income

$120M

Previous: $72.5M+64.8%
Operating Income

$190M

Previous: $198M-4.4%

Revenue & EPS history

Howard Hughes · Revenue · Quarterly

$390M

Q3 2025+19.3%vs Q3 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

Management discusses Howard Hughes Holdings's outlook, capital deployment, and key risks as disclosed in the earnings materials and periodic report.

Tailwinds

  • Howard Hughes Holdings cited progress on strategic priorities in the quarterly filing.
  • Liquidity and balance sheet support continued operations and investment.

Headwinds

  • Macro, competitive, and regulatory factors may affect near-term results.
  • R&D, credit, or project timing can create quarter-to-quarter volatility.

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 Q3 2025

Historical avgQ3 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%

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