Filing Flows › Howard Hughes Holdings (HHH) › Q2 2025
Howard Hughes Holdings (HHH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Howard Hughes Holdings (HHH) reported revenue of $261M for the second quarter 2025 (Q2 2025), -8% from a year earlier and +31% from the quarter before. Operating margin was 26.0%, net loss $12.1M (4.6% of revenue).
Howard Hughes Holdings, Q2 2025: revenue $261M (-8% year over year), operating margin 26.0%, net loss $12.1M, operating cash flow $177M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $261M | +31% | -8% |
| Operating profit | $67.9M | +42% | — |
| Net earnings | −$12.1M | -215% | — |
| Operating cash flow | $177M | — | — |
| Free cash flow | $134M | — | — |
What changed
Revenue was $260.9M in Q2 2025, down 8% year over year and up 31% from the previous quarter.
Operating profit was $67.9M, a 26.0% margin (down 5.2 points year over year). Total costs fell 1% while revenue fell 8%. The fastest-growing cost line was General & admin (+55%). The quarter ended with a net loss of $12.1M, after a profit of $10.8M the previous quarter. Net interest and other expense of $83.8M was the main reason.
Operating cash flow was $177.3M. Non-cash charges added back $44.3M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items added $137.6M. Capital expenditures of $43.4M left free cash flow of $133.9M.
Questions
What was Howard Hughes Holdings' revenue in the second quarter 2025?
Howard Hughes Holdings (HHH) reported revenue of $261M for the second quarter 2025 (Q2 2025), -8% from a year earlier and +31% from the quarter before.
Was Howard Hughes Holdings profitable in the second quarter 2025?
Operating profit was $67.9M (26.0% of revenue) and net loss $12.1M.