Howard Hughes (HHH) Q2 2026 Earnings
Includes $130.9 million condo gross profit from closing 527 units at The Park Ward Village, $51.8 million gain on sale of Creekside Park properties, $38.3 million investment loss from Vantage, stub-period Vantage results (June 4-30 only), and $15.4 million of acquisition-related costs
How Did HHH Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −0.34%.
Did HHH Beat Earnings? Q2 2026 Results
Yes. Howard Hughes reported Q2 2026 earnings of $2.68 a share on Aug 5, 2026, beating the $0.99 consensus estimate by 170.1%. Revenue was $1.1B against a $469.0M estimate.
Howard Hughes Holdings delivered a blowout second quarter for fiscal 2026, posting GAAP diluted EPS of $2.68 against a consensus estimate of $0.99, a beat of 170.05%, while revenue of $1.12 billion cleared the $469.00 million consensus by 139.30% and surged 330.2% from $260.88 million a year ago. The quarter's defining event was the June 4 closing of the roughly $2.10 billion acquisition of Vantage Group Holdings, which reshapes HHH into a diversified holding company spanning real estate and specialty insurance, and whose stub-period premiums helped propel consolidated revenue to new levels. GAAP results also reflect $130.9 million in condo gross profit from 527 closings at The Park Ward Village, a $51.8 million gain on the Creekside Park sale, a $38.3 million investment loss from Vantage, and $15.4 million in acquisition-related costs. Looking ahead, management points to a condominium pipeline 78% pre-sold across 1,293 units, representing an estimated $4.28 billion in future GAAP revenue at sellout, as a key de-risking factor, even as analyst sentiment on the stock remains cautious heading into this new chapter.
- MPC segment EBT increased 32% year-over-year to $134.7 million driven by strong land pricing and volume
- Closing of 527 condominium units at The Park Ward Village generating $130.9 million condo gross profit
- Sale of Creekside Park and Creekside Park The Grove for $127.3 million generating $51.8 million gain on sale
- Total Operating Assets NOI grew 2% to $70.5 million with 6% same-store NOI growth on TTM basis
- Net new home sales up 12% across Howard Hughes Communities portfolio
- Vantage gross written premiums grew 29% year-over-year to $473 million for the full quarter
What Is Howard Hughes's Outlook?
The company characterizes the Vantage acquisition as reshaping Howard Hughes into a diversified holding company in its 'next chapter.' The condominium pipeline is significantly de-risked with 78% of 1,293 under-construction and predevelopment units pre-sold, with estimated future GAAP revenue at sellout of approximately $4.3 billion. The MPC land bank has a margin-adjusted residual land value of $5.7 billion with estimated sellout extending to 2043 for Summerlin. Vantage's stub-period combined ratio of 95% and full-quarter ratios are noted as not indicative of expected full-year performance. The company's strong liquidity position of $2.6 billion in cash plus $1.5 billion in undrawn capacity supports ongoing development and potential future acquisitions.
HHH YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.1B | $260.9M | +330.2% |
| Operating Income | $239.6M | $67.9M | +253.1% |
| Net Income | $158.4M | $10.5M | +1,404.1% |
HHH Revenue by Segment
HHH Revenue by Geography
When Does Howard Hughes Report Next?
Figures from SEC filings and company reports. Not investment advice.