Howard Hughes Holdings Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
HHH$84.60-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
| FINANCIAL STATEMENTS | Table of Contents |
|---|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| thousands except per share amounts | 2025 | 2024 | 2025 | 2024 |
| REVENUES | ||||
| Condominium rights and unit sales | $142 | $3 | $677 | $26 |
| Master Planned Communities land sales | 248,467 | 198,239 | 445,150 | 385,444 |
| Rental revenue | 111,377 | 108,613 | 330,882 | 315,461 |
| Other land, rental, and property revenues | 14,237 | 10,700 | 34,297 | 31,105 |
| Builder price participation | 16,012 | 9,592 | 39,437 | 35,063 |
| Total revenues | 390,235 | 327,147 | 850,443 | 767,099 |
| EXPENSES | ||||
| Condominium rights and unit cost of sales | 59 | 11,833 | 1,112 | 15,694 |
| Master Planned Communities cost of sales | 78,280 | 72,582 | 148,672 | 143,254 |
| Operating costs | 45,940 | 50,841 | 147,247 | 149,412 |
| Rental property real estate taxes | 15,630 | 14,484 | 46,294 | 43,799 |
| Provision for (recovery of) doubtful accounts | (345) | 190 | 41 | 327 |
| General and administrative | 28,281 | 24,862 | 85,269 | 68,930 |
| Depreciation and amortization | 46,381 | 44,088 | 135,845 | 134,833 |
| Other | 3,332 | 3,582 | 12,402 | 11,268 |
| Total expenses | 217,558 | 222,462 | 576,882 | 567,517 |
| OTHER | ||||
| Gain (loss) on sale or disposal of real estate and other assets, net | 14,449 | 3,165 | 29,834 | 7,959 |
| Other income (loss), net | 2,445 | 90,489 | 1,963 | 91,870 |
| Total other | 16,894 | 93,654 | 31,797 | 99,829 |
| Operating income (loss) | 189,571 | 198,339 | 305,358 | 299,411 |
| Interest income | 15,287 | 5,341 | 31,736 | 19,270 |
| Interest expense | (43,856) | (43,802) | (128,644) | (122,597) |
| Gain (loss) on extinguishment of debt | (173) | — | (480) | (198) |
| Gain (loss) on sale of MUD receivables | — | (51,525) | (48,197) | (51,525) |
| Equity in earnings (losses) from unconsolidated ventures | (2,529) | (1,630) | (3,096) | (4,230) |
| Income (loss) from continuing operations before income taxes | 158,300 | 106,723 | 156,677 | 140,131 |
| Income tax expense (benefit) | 38,898 | 10,195 | 38,513 | 17,236 |
| Net income (loss) from continuing operations | 119,402 | 96,528 | 118,164 | 122,895 |
| Net income (loss) from discontinued operations, net of taxes | — | (24,031) | — | (81,807) |
| Net income (loss) | 119,402 | 72,497 | 118,164 | 41,088 |
| Net (income) loss attributable to noncontrolling interests | 106 | 273 | (267) | 297 |
| Net income (loss) attributable to common stockholders | $119,508 | $72,770 | $117,897 | $41,385 |
| Basic income (loss) per share — continuing operations | $2.03 | $1.95 | $2.16 | $2.48 |
| Basic income (loss) per share — discontinued operations | $— | $(0.48) | $— | $(1.65) |
| Basic income (loss) per share attributable to common stockholders | $2.03 | $1.46 | $2.16 | $0.83 |
| Diluted income (loss) per share — continuing operations | $2.02 | $1.95 | $2.15 | $2.48 |
| Diluted income (loss) per share — discontinued operations | $— | $(0.48) | $— | $(1.65) |
| Diluted income (loss) per share attributable to common stockholders | $2.02 | $1.46 | $2.15 | $0.83 |
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