Overview

* Howard Hughes Q3 net income per share rises to $2.02 from $1.95 yr/yr

* Company raises full-year 2025 adjusted operating cash flow guidance by $30 mln

* Howard Hughes contracts $1.4 bln in future condo sales revenue

Outlook

* Howard Hughes raises full-year 2025 Adjusted Operating Cash Flow guidance to $440 mln

* Company increases full-year 2025 MPC EBT guidance to $450 mln

* Howard Hughes reaffirms 2025 condo sales revenue guidance at $360 mln for Q4

Result Drivers

* MPC LAND SALES - Record MPC EBT of $205 mln driven by sale of 349 residential acres, including four Summerlin superpad sales

* CONDO PRE-SALES - Contracted $1.4 bln in future condo sales revenue through pre-sales in Hawai'i and Texas

* OPERATING ASSETS - Total Operating Assets NOI increased 5% yr/yr to $68 mln, led by strong office and multifamily results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 NOI $68 mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

* Wall Street's median 12-month price target for Howard Hughes Holdings Inc ( HHH ) is $95.00, about 15.7% above its November 7 closing price of $80.09

* The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)