Howard Hughes reports FY2023 net loss $551.8M on Seaport impairment; record MPC EBT $341M

Howard Hughes Holdings Inc.

2023-FY EPS reported -$11.13 revenue$1,024,102,000

FY2023 net loss of $551.8M ($11.13 diluted EPS) includes $548.5M after-tax Seaport impairment; vs net income $184.5M in 2022.
Record MPC EBT of $341M (+21% YoY) driven by 45% increase in new home sales and 23% higher residential price/acre.
Record Operating Assets NOI of $244M (+2% YoY, +4% ex-dispositions) led by multi-family growth of 16%.
Q4 net income $34.3M ($0.69 EPS) vs $52.8M ($1.07) prior year; MPC EBT $139M (+82% YoY).
2024 guidance: MPC EBT expected ~$300M (down 10-15%), Operating Assets NOI ~$250M (up 1-4%), condo revenue $675-725M.

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 0.9

Howard Hughes Holdings Inc. reported the fourth quarter ended December 31, 2023 results: net income $34.3 million, EPS $0.69 per diluted share.

Period: the fourth quarter ended December 31, 2023
Net income: $34.3 million
EPS: $0.69 per diluted share
Result: reported results

Exact text from the filing

Net income was $34.3 million, or $0.69 per diluted share in the quarter

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Howard Hughes Holdings Inc. reported the year ended December 31, 2023 results: net income net loss of $551.8 million, EPS $(11.13) per diluted share.

Period: the year ended December 31, 2023
Net income: net loss of $551.8 million
EPS: $(11.13) per diluted share
Result: reported results

Exact text from the filing

HHH reported a net loss of $551.8 million, or $(11.13) per diluted share in 2023

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Source: SEC EDGAR

accession 0001628280-24-007196

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