Howard Hughes Reports Earnings Next Week - What to Know

HHC is scheduled to release earnings on May 9

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The Howard Hughes Corporation (NYSE:HHC) is a real estate development and management company. HHC own, manage, and develop commercial, residential, and mixed-use real estate throughout the U.S. In April, The Howard Hughes Corporation announced that they will be releasing their first quarter of 2022 earnings on Monday, May 9, after the market closes. HHC will also hold their first quarter financials conference call on Tuesday, May 10.

On the earnings front, Howard Hughes stock rang up earnings of $2.09 per share in the fourth quarter of 2021. Right now, Wall Street seems to expect a major drop in the real estate company's earnings for Q1. Analysts expect HHC to report an EPS (earnings per share) all the way into negative territory at -$0.58 in this upcoming earnings report.

Howard Hughes stock has decreased about 11% in price year-over-year and HHC is currently down 13% since reaching a 52-week high of $113.20 last May. Note that shares of HHC have dropped in price 3% year-to-date. Still, Howard Hughes stock is currently up 20% since bottoming at a 52-week low of $81.99 in late November.

Moreover, the real estate development company reported 104% revenue growth and an increase of $82.3 million in net income for fiscal 2021, after experiencing massive declines on their top and bottom lines for fiscal 2020. HHC is also estimated grow their earnings by 190.3% for fiscal 2022. However, that seems to be where the good news ends for Howard Hughes, especially on the fundamentals side of things.

Estimates indicate only a 0.5% increase in revenues for fiscal 2022, as well as 6.5% expected revenue growth and a 34.8% expected drop in earnings for fiscal 2023. Howard Hughes stock also trades at an unreasonably high forward price-earnings ratio of 256.41 and a relatively rich price-sales ratio of 3.84. In addition, HHC holds a weak balance sheet with $843.21 million in cash and $4.69 billion in total debt, making Howard Hughes stock not ideal for fundamental-based investors.

 

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