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Howard Hughes HHH Master Planned Communities land sales — Cost of Sales

Other product segments

Condominium rights and unit sales
$3.13M+1,195%

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Other financials

Income statement

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Revenue$235.9M+18.4%
Operating income$50.7M+5.7%
Net income$8.2M-21.9%
EPS (diluted)$0.14-33.3%

Balance sheet

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Cash & equivalents$2.5B+197%
Total debt$4.8M-11.9%
Total equity$3.8B+35.7%
Total assets$11.2B+21.1%

Cash flow

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Operating cash flow-$229.4M-2.0%
CapEx$14.8M+9.8%
Free cash flow-$244.2M-2.4%

Valuation

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Market cap$4.06B-1.0%
Enterprise value$1.58B-31.7%
P/E33.4×+15.4×
P/S2.7×+0.4×

Profitability

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Operating margin22.1%-11.1pp
Net margin8%-6.5pp
FCF margin27.2%+11.1pp

Returns & leverage

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Return on equity3.7%-5.4pp
Debt / equity0.0×

Where this comes from

Reported directly by Howard Hughes in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: Howard Hughes’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 4:17 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-032144
thousands except per share amountsThree Months Ended March 31, 20262025
Total revenues235,917199,328
EXPENSES
Condominium rights and unit cost of sales3,134242
Master Planned Communities cost of sales34,74225,214
Operating costs53,03350,789
Rental property real estate taxes16,22815,299
Provision for (recovery of) doubtful accounts(59)(156)
General and administrative25,75822,436

Item 1. Financial Statements

FAQ

What is Howard Hughes's master planned communities land sales — cost of sales?
Howard Hughes (HHH) reported master planned communities land sales — cost of sales of $34.74M in Q1 2026.
How has Howard Hughes's master planned communities land sales — cost of sales changed year-over-year?
Howard Hughes's master planned communities land sales — cost of sales increased by 37.8% year-over-year, from $25.21M to $34.74M.
What is the long-term trend for Howard Hughes's master planned communities land sales — cost of sales?
Over 3 years (2021 to 2025), Howard Hughes's master planned communities land sales — cost of sales has grown at a 7.1% compound annual growth rate (CAGR), from $153.63M to $188.7M.
What does master planned communities land sales — cost of sales mean?
This metric captures the direct costs associated with the development and sale of land within master-planned communities, including site preparation, infrastructure improvements, and allocated land basis. It serves as a key indicator of development efficiency and the underlying profitability of land monetization activities. Monitoring this cost relative to revenue helps assess the margin profile of the company's land development operations.

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