---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-023141"
form_type: "8-K"
ticker: "HHH"
cik: "0001981792"
company_name: "Howard Hughes Holdings Inc."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T09:24:31.065530+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HHH reports Q1 net income $0.21/share; Pershing Square invests $900M at $100/share (48% premium)

## Summary
- Net income from continuing ops $10.8M ($0.21 diluted), vs loss of $21.0M ($0.42) YoY.
- Total Operating Assets NOI record $71.6M (+9% YoY); MPC EBT $63.3M (+161% YoY).
- Full-year 2025 adjusted operating cash flow guidance reaffirmed at $325-375M, mid-point $350M ($7.00/share).
- Pershing Square bought 9M newly issued shares at $100/share (48% premium) for $900M, raising ownership to 46.9%.
- Subsequent to quarter end, sold Bridgeland MUD receivables for $180M.

## SEC filing metadata
- accession: 0001628280-25-023141
- form_type: 8-K
- ticker: HHH
- cik: 0001981792
- company_name: Howard Hughes Holdings Inc.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1981792/000162828025023141/0001628280-25-023141-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1981792/000162828025023141/hhh-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-023141
- JSON: https://secwatch.observer/filing/0001628280-25-023141.json
- Plain text: https://secwatch.observer/filing/0001628280-25-023141.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.