Howard Hughes Q3 Profit Plunges - Quick Facts

(RTTNews) - Howard Hughes Corp. (HHC) reported Tuesday that its third-quarter net income attributable to common stockholders was $7.97 million or $0.19 per share, compared to last year's $156.22 million or $0.76 per share.

Adjusted net income was $47.24 million or $1.10 per share, compared to $28.51 million or $0.66 per share a year ago.

Total revenues increased to $240.81 million from $203.44 million last year.

On average, two analysts polled by Thomson Reuters expected earnings of $1.21 per share for the quarter on revenues of $269.29 million. Analysts' estimates typically exclude special items.

David Weinreb, Chief Executive Officer, said, "We had a solid third quarter as we continued to increase cash flow across the portfolio and make progress in delivering value at our strategic developments while strengthening our MPCs."