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Mar 31, 2022
RE/MAX Q1 2022 Earnings Report
RE/MAX Holdings reported an increase in total revenue, organic revenue, and adjusted EBITDA.
Key Takeaways
RE/MAX Holdings reported a strong first quarter with a 25.9% increase in total revenue to $91.0 million, driven by 10.5% organic growth and contributions from acquisitions. Adjusted EBITDA grew by 20.5% to $27.9 million, and adjusted EPS reached $0.51. The company's agent count also saw a slight increase of 1.6%, reaching 142,405 agents.
Total revenue increased by 25.9% to $91.0 million.
Revenue excluding Marketing Funds increased 25.9% to $68.2 million, with 10.5% organic growth.
Adjusted EBITDA increased by 20.5% to $27.9 million.
Total agent count increased by 1.6% to 142,405 agents.
Revenue by Segment
Forward Guidance
The Company's second quarter and full-year 2022 Outlook assumes no further currency movements, acquisitions or divestitures.
Positive Outlook
- Agent count to increase 2.0% to 3.0% over second quarter 2021
- Revenue in a range of $91.0 million to $94.0 million (including revenue from the Marketing Funds in a range of $22.0 million to $24.0 million)
- Adjusted EBITDA in a range of $32.5 million to $35.0 million
- Agent count to increase 2.0% to 4.0% over full-year 2021
- Revenue in a range of $366.0 million to $376.0 million (including revenue from the Marketing Funds in a range of $91.5 million to $95.5 million)
Challenges Ahead
- The Company's second quarter and full-year 2022 Outlook assumes no further currency movements
- The Company's second quarter and full-year 2022 Outlook assumes no further acquisitions
- The Company's second quarter and full-year 2022 Outlook assumes no further divestitures
Historical Earnings Impact
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Avg. Return Before/After Earnings
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