Filing Flows › Howard Hughes Holdings (HHH) › Q1 2026
Howard Hughes Holdings (HHH) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Howard Hughes Holdings (HHH) reported revenue of $236M for the first quarter 2026 (Q1 2026), +18% from a year earlier and -62% from the quarter before. Operating margin was 21.5%, net earnings $8.2M (3.5% of revenue).
Howard Hughes Holdings, Q1 2026: revenue $236M (+18% year over year), operating margin 21.5%, net earnings $8.2M, operating cash flow −$229M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $236M | -62% | +18% |
| Operating profit | $50.7M | +94% | +6% |
| Net earnings | $8.2M | +37% | -22% |
| Operating cash flow | −$229M | -164% | — |
What changed
Revenue was $235.9M in Q1 2026, up 18% year over year and down 62% from the previous quarter.
Operating profit was $50.7M, a 21.5% margin (down 2.6 points year over year). Of the extra revenue versus Q1 2025, 8% reached operating profit, below the 24% margin then. Total costs grew 22% against revenue growth of 18%. The fastest-growing cost line was Other operating costs (+24%). Net earnings were $8.2M, down 22% year over year. The effective tax rate was 24.5%.
Operating cash flow was −$229.4M. Non-cash charges added back $48.6M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items used $290.2M. Capital expenditures of $20.3M exceeded it, leaving free cash flow of −$249.7M.
Questions
What was Howard Hughes Holdings' revenue in the first quarter 2026?
Howard Hughes Holdings (HHH) reported revenue of $236M for the first quarter 2026 (Q1 2026), +18% from a year earlier and -62% from the quarter before.
Was Howard Hughes Holdings profitable in the first quarter 2026?
Operating profit was $50.7M (21.5% of revenue) and net earnings $8.2M.