Howard Hughes Corp
Howard Hughes Corporation filed its Q3 FY2026 10-Q. Total revenues fell 28.6% year-over-year to $278.8M, while net income swung to a $(51.1M) loss a year earlier. The swing was driven by a $105.4M loss on sale of Municipal Utility District (MUD) receivables and a 46% drop in Master Planned Communities land sales. Nine-month revenue rose to $1.52B from $850.4M, reflecting a large condominium rights and unit sales contribution of $715.6M.
- Q3 net loss of $51.1M a year ago.
- MPC land sales fell 46% to $133.7M in the quarter.
- Loss on sale of MUD receivables was $105.4M in Q3.
- Nine-month revenue rose to $1.52B from $850.4M on condominium sales.
- Operating Assets NOI rose 8% to in the quarter.
Price data unavailable.
A sharp swing to a quarterly loss driven by a one-time MUD receivable sale loss and weak land sales shows earnings volatility despite strong nine-month condominium revenue.
The company is a voluntary filer with 10 shares outstanding, 100% owned by Howard Hughes Holdings Inc., operating under reduced disclosure format.
The $105.4M MUD receivable sale loss and 46% MPC land sales decline signal volatility in land monetization and receivable sales timing.