Filing Flows › Howard Hughes Holdings (HHH) › Q1 2025
Howard Hughes Holdings (HHH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Howard Hughes Holdings (HHH) reported revenue of $199M for the first quarter 2025 (Q1 2025), +27% from a year earlier and -80% from the quarter before. Operating margin was 24.0%, net earnings $10.5M (5.3% of revenue).
Howard Hughes Holdings, Q1 2025: revenue $199M (+27% year over year), operating margin 24.0%, net earnings $10.5M, operating cash flow −$225M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $199M | -80% | +27% |
| Operating profit | $47.9M | -82% | +280% |
| Net earnings | $10.5M | -93% | — |
| Operating cash flow | −$225M | — | — |
What changed
Revenue was $199.3M in Q1 2025, up 27% year over year and down 80% from the previous quarter.
Operating profit was $47.9M, a 24.0% margin (up 16.0 points year over year). Of the extra revenue versus a year earlier, 82% reached operating profit, above the 8% margin then. Total costs grew 5% against revenue growth of 27%. Net earnings were $10.5M. The effective tax rate was 24.1%.
Operating cash flow was −$224.9M. Non-cash charges added back $45.1M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items used $285.2M. Capital expenditures of $53.1M exceeded it, leaving free cash flow of −$278.1M.
Questions
What was Howard Hughes Holdings' revenue in the first quarter 2025?
Howard Hughes Holdings (HHH) reported revenue of $199M for the first quarter 2025 (Q1 2025), +27% from a year earlier and -80% from the quarter before.
Was Howard Hughes Holdings profitable in the first quarter 2025?
Operating profit was $47.9M (24.0% of revenue) and net earnings $10.5M.