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Sep 30, 2024
Anywhere Real Estate Q3 2024 Earnings Report
Anywhere Real Estate reported third quarter results with revenue of $1.5 billion and net income of $7 million.
Key Takeaways
Anywhere Real Estate Inc. reported a 3% year-over-year decrease in revenue, totaling $1.5 billion for Q3 2024. Net income decreased by $122 million to $7 million, primarily due to lapping gains on early debt extinguishment. The company highlights strong Operating EBITDA and free cash flow, along with strategic investments and luxury market share gains.
Generated revenue of $1.5 billion, a decrease of 3% year-over-year.
Combined closed transaction volume remained flat year-over-year.
Corcoran and Sotheby’s International Realty brands outperformed the market, with 5% transaction volume growth.
Free Cash Flow of $99 million versus $95 million for the corresponding quarter last year.
Forward Guidance
The company is expecting to realize $120 million in cost savings in 2024 and expects its Free Cash Flow excluding one-time items to be approximately $100 million in 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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