Howard Hughes Holdings Leads Real Estate Services Q1 Earnings with 20.4% Revenue Beat

Earnings
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Summary · why it matters

Howard Hughes Holdings reported first-quarter revenues of $235.9 million, up 18.4% year on year and exceeding analysts' expectations by 20.4%, making it the top performer among 14 tracked consumer discretionary real estate services stocks. The group as a whole beat revenue consensus estimates by 3.8% but issued next-quarter revenue guidance 6.7% below expectations, and their shares have fallen an average of 8.2% since reporting. Howard Hughes also beat EPS estimates, and its stock rose 6.3% to $67.50. Other notable results included Marcus & Millichap with revenues of $171.5 million, up 18.2% and beating by 5.7%, while RE/MAX posted the weakest quarter with revenues of $70.23 million, down 5.7% and missing estimates by 2.7%. JLL reported revenues of $6.39 billion, up 11.1% and beating by 6.6%, and Forestar Group met expectations with revenues of $374.3 million, up 6.6%.

Impact on stocks 5

Real Estate± Mixed · 5 stocks
Marcus & Millichap Inc
MMI
▲ PositiveCapitalrelevance

Marcus & Millichap reported revenues of $171.5 million, up 18.2% and beating by 5.7%.

Re Max Holding
RMAX
▼ NegativeCapitalrelevance

RE/MAX posted the weakest quarter with revenues down 5.7% and missing estimates by 2.7%.

Forestar Group Inc
FOR
± MixedCapitalrelevance

Forestar Group met revenue expectations but is part of a group whose shares fell 8.2% on average; no specific impact from this article.