earnings
confidence high
sentiment positive
materiality 0.90
HHH reports record FY2024: EPS $5.73, MPC EBT $349M; 2025 AOCF guidance ~$350M
Howard Hughes Holdings Inc.
2024-FY EPS reported
$3.96
revenue$1,750,689,000
- FY2024 net income from continuing ops $285.2M ($5.73/diluted), up 241% YoY; Q4 $162.3M ($3.25/diluted), up 207%.
- Record MPC EBT $349M, up 2% YoY; record Operating Assets NOI $257M, up 6%; record condo revenues $779M.
- FY2025 guidance: MPC EBT mid-point ~$375M (+5-10%); Operating Assets NOI ~$262M; Adjusted Operating Cash Flow $325-375M.
- Subsequent to year-end, Hawaii HCDA amendments allow additional 2.5-3.5M gross sq ft residential entitlements in Ward Village.
- Closed $862M in FY2024 financings; liquidity ~$900M including $596M cash; spinoff of Seaport Entertainment completed July 31, 2024.