Howard Hughes Corp. HHC on Monday reported fourth-quarter results that beat expectations, but the real-estate developer warned that market anxiety would lead to lower land sales this year. The company, which develops residential communities and other properties, reported net income of $53.4 million, or $1.07 a share, compared with $111.3 million, or $2.09 a share, in the same quarter in 2021. Revenue of $482 million fell sharply from $805.7 million in the prior-year quarter.
HHC on Monday reported fourth-quarter results that beat expectations, but the real-estate developer warned that market anxiety would lead to lower land sales this year. The company, which develops residential communities and other properties, reported net income of $53.4 million, or $1.07 a share, compared with $111.3 million, or $2.09 a share, in the same quarter in 2021. Revenue of $482 million fell sharply from $805.7 million in the prior-year quarter.
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