Loading...
•
Dec 31, 2022
Anywhere Real Estate Q4 2022 Earnings Report
Reported financial results, impacted by a challenging housing market, prioritizing growth investments and reengineering operations at a lower cost base.
Key Takeaways
Anywhere Real Estate Inc. reported a decrease in revenue for Q4 2022, driven by lower homesale transaction volume. The company realized cost savings and focused on financial and operational performance. They expect Q1 2023 transaction volume to be down around 30% versus prior year.
Revenue was $1.323 billion, a decrease of 33% year-over-year.
Net loss attributable to Anywhere was $453 million, compared to a net income of $47 million in Q4 2021.
Loss per share was $4.14, compared to earnings per share of $0.40 in Q4 2021.
Free cash flow was negative $53 million, compared to positive $95 million in Q4 2021.
Forward Guidance
Looking ahead to 2023, the Company expects our first quarter 2023 transaction volume to be down around 30% versus prior year. Consistent with industry forecasts, we expect quarterly transaction volume comparisons to 2022 to improve throughout 2023, but expect full year 2023 transaction volumes to decline about 15-20% year-over-year.
Positive Outlook
- Expect quarterly transaction volume comparisons to 2022 to improve throughout 2023.
- The Company expects Free Cash Flow from operations to be modestly positive.
- The Company expects to realize further cost savings of approximately $200 million in 2023.
Challenges Ahead
- First quarter 2023 transaction volume to be down around 30% versus prior year.
- The first quarter is seasonally the slowest quarter, and combined with this anticipated volume decline, the Company expects to have significant negative Operating EBITDA for the first quarter of 2023.
- Expect full year 2023 transaction volumes to decline about 15-20% year-over-year.
- Driven by these projected volume declines, the Company expects full year 2023 Operating EBITDA to be below 2022.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...