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Mar 31, 2024
Anywhere Real Estate Q1 2024 Earnings Report
Reported solid results despite a tough market environment, demonstrating powerful leadership in a challenging housing market.
Key Takeaways
Anywhere Real Estate Inc. reported financial results for Q1 2024. Revenue remained flat year-over-year at $1.1 billion. The company realized cost savings of approximately $30 million and is on track to deliver at least $100 million for the full year. The company reported a net loss of $101 million.
Revenue of $1.1 billion, flat year-over-year.
Combined closed transaction volume increased 2% year-over-year.
Sotheby’s International Realty brand saw closed transaction volume up 7% year-over-year.
Realized cost savings of approximately $30 million and on track to deliver at least $100 million for the full year.
Revenue by Segment
Forward Guidance
The Company expects to realize cost savings of at least $100 million in 2024. The Company expects our operating Free Cash Flow excluding one-time items to be modestly positive in 2024.
Positive Outlook
- Expects to realize cost savings of at least $100 million in 2024.
- Operating Free Cash Flow excluding one-time items to be modestly positive in 2024.
- Favorable working capital.
- Robust savings programs.
- Cash management discipline will help counterbalance another tough year in housing.
Challenges Ahead
- Macroeconomic and housing market uncertainties.
- Rising inflation.
- Declining affordability.
- Constrained inventory.
- Competitive, litigation and regulatory uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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