Real estate developer Howard Hughes Holdings (NYSE: HHH) will be reporting earnings this Thursday afternoon. Here’s what to look for.
Howard Hughes Holdings beat analysts’ revenue expectations by 15.7% last quarter, reporting revenues of $390.2 million, up 19.3% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is Howard Hughes Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Howard Hughes Holdings’s revenue to decline 39.8% year on year to $592.1 million, a reversal from the 214% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Howard Hughes Holdings has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Howard Hughes Holdings’s peers in the consumer discretionary - real estate services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Marcus & Millichap delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 6.3%, and Zillow reported revenues up 18.1%, topping estimates by 0.5%. Marcus & Millichap traded up 3.4% following the results while Zillow was down 17.1%.
Read our full analysis of Marcus & Millichap’s results here and Zillow’s results here.
Investors in the consumer discretionary - real estate services segment have had steady hands going into earnings, with share prices flat over the last month. Howard Hughes Holdings is up 1.1% during the same time and is heading into earnings with an average analyst price target of $96.33 (compared to the current share price of $82.79).
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