earnings
confidence high
sentiment positive
materiality 0.85
HHH Q3 net income $1.95/sh, record MPC EBT $144.8M; raises full-year guidance across segments
Howard Hughes Holdings Inc.
2024-Q3 EPS reported
$0.83
revenue$767,099,000
- Net income from continuing ops $96.5M ($1.95 diluted EPS) vs $0.64 prior year; record MPC EBT $144.8M, up 71% YoY.
- Total Operating Assets NOI $64.8M (+8%); full-year guidance raised: MPC EBT mid-point $330M, NOI mid-point $257M.
- Completed spinoff of Seaport Entertainment on July 31; subsequent to quarter end, Victoria Place tower completed, 100% pre-sold, $760M condo revenue expected.
- MUD receivable sale generated $176.7M cash, used to pay down Bridgeland Notes; credit line expanded to $600M, maturity extended to 2029.
- Strong liquidity: $400.7M cash, $1.5B undrawn for development; positive outlook across all segments.