Hawaii's Maui Land & Pineapple Q1 revenue falls on suspended housing project

Maui Land & Pineapple

15/05/2026 21:49

Overview

Hawaii land and real estate firm's Q1 revenue declined, mainly due to suspended housing project

Company reported Q1 net loss, narrower than prior year

Company revised segment reporting to improve transparency for investors

Outlook

Company expects increasing revenue from commercial real estate as leased properties reach stabilization

Company aims to improve revenue and NOI in future quarters by expanding agricultural land leasing

Negotiations for the sale and lease of water-related assets continue to progress

Result Drivers

HOUSING PROJECT SUSPENSION - Revenue and expenses in Land Development & Sales fell due to the suspension of the Honokeana Homes Housing Project by the State of Hawaii

HIGH OCCUPANCY - Commercial real estate leasing occupancy reached 93%, but segment revenue and net operating income were unchanged year over year

AGRICULTURAL LAND EXPANSION - Leased agricultural lands increased by 33.73%, but related revenue was flat and expenses rose as land was prepared for use

Company press release: ID:nGNX5GxZVp

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$2.06 mln
Q1 Basic EPS
-$0.10


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)