HHH reports Q3 net loss $544M on $555M Seaport impairment; raises guidance

Howard Hughes Holdings Inc.

2023-Q3 EPS reported -$11.83 revenue$688,264,000

Net loss of $544.2M ($10.97/share) includes $555M after-tax Seaport impairment; prior year net income was $108.1M.
MPC EBT $84.8M (+12% YoY); price per acre record $913k (+16%); full-year guidance raised to ~$325M mid-point.
Operating Assets NOI $62.8M (+3% YoY); full-year NOI guidance raised to ~$243M mid-point.
Plans to spin off Seaport Entertainment as a separate public company in 2024, led by Anton Nikodemus.
Closed financings: $93.3M construction loan for 1 Riva Row and $115M refinancing of 250 Water St.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Howard Hughes Holdings Inc. reported third quarter ended September 30, 2023 results: net income net loss of $544.2 million, or $(10.97) per diluted share, EPS $(10.97) per diluted share. Guidance raised.

Period: third quarter ended September 30, 2023
Net income: net loss of $544.2 million, or $(10.97) per diluted share
EPS: $(10.97) per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Quarterly net loss of $544.2 million, or $(10.97) per diluted share

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Source: SEC EDGAR

accession 0001628280-23-037016

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