secwatch.observer — SEC 8-K summary
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Issuer:     Howard Hughes Holdings Inc. (HHH)
CIK:        0001981792
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001628280-24-021655
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Howard Hughes Q1 net loss $1.06 diluted; MPC EBT $24.3M; guidance reaffirmed
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- Net loss of $52.5M ($1.06 diluted) vs $22.7M loss ($0.46) a year ago, driven by lower land sales and spinoff G&A.
- Total Operating Assets NOI rose 7% to $63.5M; office NOI up 10% to $30.6M; multi-family NOI up 9% to $13.8M.
- MPC EBT fell 61% to $24.3M; full-year guidance midpoint of $300M unchanged; 654 new homes sold (up 24% sequentially).
- First 52 acres sold at Floreo for $758k/acre; Ritz-Carlton Residences pre-sold 56 units (~$250M revenue) in first week.
- Seaport spinoff on track for coming months; FY2024 guidance for condo sales $675-725M and cash G&A $80-90M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1981792/000162828024021655/0001628280-24-021655-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1981792/000162828024021655/hhh-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-021655

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