Howard Hughes climbs after Q2 results top expectations
** Shares of Howard Hughes Holdings HHH.N up 2.9% at $72.52, after hitting over 4-mth on Fri, after real estate firm swings to a profit in Jun qtr
** Texas-based co late Thurs reported Q2 EPS of 42 cents compared to loss of 39 cents a year ago, citing robust residential land sales in its master planned communities (MPC) segment
** Analysts had expected profit of 23 cents, per LSEG
** Rev in qtr grew 44% yr/yr to $317.4 mln, topping Street view of $289 mln
** Co said it is "extremely pleased" with its first half performance and outlook for remainder of 2024, adding expects to complete spin off Seaport Entertainment next week
** Billionaire Bill Ackman's Pershing Square Capital Management is top HHH shareholder with ~38% stake, per LSEG data
** Ackman in Apr retired as board chairman since founding HHH in 2010
** With move on the session, HHH shares off 15% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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