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Howard Hughes HHH MPC Segment — Income (loss) before income taxes

Other segment segments

Strategic Developments Segment
-$6.64M-453%
Operating Assets Segment
-$4.91M-316%

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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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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 / Three Months Ended March 31, 2026Operating Assets SegmentMPC SegmentStrategic Developments Segment
Interest income (expense), net(33,507)21,7124,974
Other income (loss), net191,860(889)
Equity in earnings (losses) from unconsolidated ventures5,877(3,535)(4,982)
Segment EBT$(4,912)$84,376$(6,636)
Three Months Ended March 31, 2025
Total revenues$114,002$84,454$854
Condominium rights and unit cost of sales(242)
Master Planned Communities cost of sales(25,214)

Item 1. Financial Statements

FAQ

What is Howard Hughes's MPC segment — income (loss) before income taxes?
Howard Hughes (HHH) reported MPC segment — income (loss) before income taxes of $84.38M in Q1 2026.
How has Howard Hughes's MPC segment — income (loss) before income taxes changed year-over-year?
Howard Hughes's MPC segment — income (loss) before income taxes increased by 33.4% year-over-year, from $63.26M to $84.38M.
What is the long-term trend for Howard Hughes's MPC segment — income (loss) before income taxes?
Over 3 years (2021 to 2025), Howard Hughes's MPC segment — income (loss) before income taxes has grown at a 14.6% compound annual growth rate (CAGR), from $316.61M to $476.1M.
What does MPC segment — income (loss) before income taxes mean?
This metric measures the total pre-tax profitability of the Master Planned Communities segment, encompassing all revenues, operating expenses, and non-operating items. It serves as a primary indicator of the segment's operational performance and financial health before accounting for tax obligations. Investors use this to evaluate the segment's contribution to the overall company's bottom line.

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