Howard Hughes reports Q2 EPS (39c), consensus (25c)

Reports Q2 revenue $223.32M, consensus $217.79M. Reports Q2 total Operating Assets NOI, including contribution from unconsolidated ventures, totaled $68.1M, representing a 3% increase compared to $66.3M in the prior-year period. “During the Q2, we produced exceptionally strong results across our segments and remain well-positioned to carry this momentum through the second half of 2023,” commented David R. O’Reilly, CEO. “Throughout the quarter, we saw new home sales-a leading indicator of future land sales-surge to its highest level since the Q2 of 2021, our office and multi-family assets produced solid same-store NOI growth, condo sales in Hawai’i remained strong with only 116 units remaining, and foot traffic at the Seaport continued to rise sparked by the launch of our Summer Concert Series, premier restaurant offerings, and the Tin Building marketplace.”