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Segment Operating Income Breakdown
Details operating profit for each segment after core costs but before financing and taxes, showing how efficiently each business converts revenue into profit. That lets you compare margins across developments, property management, and commercial operations to spot strengths, cost pressures, or segments that may require strategic change.Howard Hughes’ segment income is driven by lumpy MPC and Strategic Developments events: MPC produced record, jaw‑dropping quarters (backed by outsized land pricing and condo contracting) but those results are timing‑sensitive—management warns 2026 MPC EBT will decline absent last year’s Summerlin bulk sale even as fundamental per‑acre pricing and condo backlog remain strong. Strategic Developments delivers sporadic one‑offs, not steady earnings, while Seaport’s historical losses have effectively been reclassified/monetized recently, removing a drag. Net: core operating NOI is steadier; watch bulk‑sale timing, condo recognition cadence, and the Vantage close.
Date | Operating Assets | Master Planned Communities | Seaport | Strategic Developments |
|---|---|---|---|---|
Jun 30, 2026 | $69.44M | $111.35M | $0.00 | $124.45M |
Mar 31, 2026 | $68.28M | $64.40M | $0.00 | -$3.68M |
Dec 31, 2025 | $63.66M | $80.19M | $0.00 | -$8.57M |
Sep 30, 2025 | $65.47M | $188.40M | $0.00 | -$3.17M |
Jun 30, 2025 | $66.98M | $86.01M | $0.00 | -$4.47M |
Mar 31, 2025 | $65.19M | $46.25M | $0.00 | -$3.51M |
Dec 31, 2024 | $60.57M | $47.80M | $0.00 | $208.34M |
Sep 30, 2024 | $65.03M | $128.07M | $0.00 | -$15.91M |
Jun 30, 2024 | $65.35M | $101.30M | -$11.90M | -$3.70M |
Mar 31, 2024 | $58.76M | $23.83M | -$9.98M | -$8.06M |