Howard Hughes Holdings Inc. Earnings Per Share Disclosure
16. Earnings Per Share | ||
| thousands except per share amounts | 2025 | 2024 | 2023 | ||||||||||||||
| Net income (loss) | |||||||||||||||||
| Net income (loss) from continuing operations | $ | 123,843 | $ | 285,215 | $ | 83,410 | |||||||||||
| Net (income) loss attributable to noncontrolling interests | 54 | 711 | (243) | ||||||||||||||
| Net income (loss) from continuing operations attributable to common stockholders | 123,897 | 285,926 | 83,167 | ||||||||||||||
| Net income (loss) from discontinued operations | — | (88,223) | (634,940) | ||||||||||||||
| Net income (loss) attributable to common stockholders | $ | 123,897 | $ | 197,703 | $ | (551,773) | |||||||||||
| Shares | |||||||||||||||||
| Weighted-average common shares outstanding — basic | 55,722 | 49,686 | 49,568 | ||||||||||||||
| Restricted stock and stock options | 324 | 226 | 48 | ||||||||||||||
| Weighted-average common shares outstanding — diluted | 56,046 | 49,912 | 49,616 | ||||||||||||||
| Net income (loss) per common share | |||||||||||||||||
| Basic income (loss) per share — continuing operations | $ | 2.22 | $ | 5.75 | $ | 1.68 | |||||||||||
| Basic income (loss) per share — discontinued operations | $ | — | $ | (1.78) | $ | (12.81) | |||||||||||
| Basic income (loss) per share — attributable to common stockholders | $ | 2.22 | $ | 3.98 | $ | (11.13) | |||||||||||
| Diluted income (loss) per share — continuing operations | $ | 2.21 | $ | 5.73 | $ | 1.68 | |||||||||||
| Diluted income (loss) per share — discontinued operations | $ | — | $ | (1.77) | $ | (12.80) | |||||||||||
| Diluted income (loss) per share — attributable to common stockholders | $ | 2.21 | $ | 3.96 | $ | (11.12) | |||||||||||
| Anti-dilutive shares excluded from diluted EPS | |||||||||||||||||
| Restricted stock and stock options | 142 | 66 | 250 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.