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Sep 30, 2022
Anywhere Real Estate Q3 2022 Earnings Report
Delivered meaningful profitability amidst an increasingly challenging housing market.
Key Takeaways
Anywhere Real Estate Inc. reported a 17% year-over-year decrease in revenue to $1.8 billion for the third quarter of 2022, impacted by lower homesale transaction volume and the absence of Title Group revenue due to the sale of the Title Insurance Underwriter. Despite the revenue decrease, the company generated net income of $55 million and Operating EBITDA of $166 million.
Generated revenue of $1.8 billion, a decrease of 17% year-over-year.
Reported net income of $55 million, a decrease of $59 million vs. prior year, and basic earnings per share of $0.49.
Generated Operating EBITDA of $166 million, a decrease of $107 million year-over-year.
Generated Free Cash Flow of $99 million vs. $282 million for the corresponding quarter last year.
Forward Guidance
The Company now estimates year-over-year declines in homesale transaction volume of over 25% in the fourth quarter of 2022. Based off this lower estimated volume, the Company does not believe it will achieve the low end of its prior estimate of Operating EBITDA for full year 2022 and is not providing a revised estimate in light of the current high degree of macroeconomic volatility, in particular with respect to factors impacting the residential real estate industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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