Douglas Elliman Q2 2023 Earnings Report
Key Takeaways
Douglas Elliman Inc. reported a decrease in consolidated revenues to $275.9 million compared to $364.4 million in the prior year quarter. The company experienced an operating loss of $8.3 million, and a net loss attributed to Douglas Elliman of $5.2 million, or $0.06 per diluted common share.
Consolidated revenues decreased to $275.9 million from $364.4 million in the prior year quarter.
Real estate brokerage segment achieved gross transaction value of approximately $9.9 billion, compared to approximately $13.6 billion in the prior year quarter.
The company recorded an operating loss of $8.3 million, compared to an operating income of $14.6 million in the prior year quarter.
Net loss attributed to Douglas Elliman was $5.2 million, or $0.06 per diluted common share, compared to net income of $10.2 million, or $0.12 per diluted common share, in the prior year quarter.
Douglas Elliman
Douglas Elliman
Douglas Elliman Revenue by Segment
Forward Guidance
The company remains confident that its differentiated platform and approach will enable it to deliver growth over the long term.
Positive Outlook
- World class agents
- Strong balance sheet
- Global network of leading agents
- Luxury brand
- Positioned to take advantage of opportunities as real estate markets stabilize
Challenges Ahead
- Continuing challenging backdrop of the second quarter
- Limited listing inventory
- Significantly increased mortgage rates
- Consolidated revenues decreased
- Operating loss recorded
Revenue & Expenses
Visualization of income flow from segment revenue to net income