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Jun 30, 2020
RE/MAX Q2 2020 Earnings Report
RE/MAX Holdings' results for Q2 2020 were reported, showing a decrease in revenue due to COVID-19 related financial support initiatives, but global agent count continued to rise.
Key Takeaways
RE/MAX Holdings reported a decrease in total revenue by 26.9% compared to Q2 2019, primarily due to COVID-19-related financial support initiatives. Net income attributable to RE/MAX Holdings, Inc. was $3.5 million, a decrease of $5.1 million over the second quarter of 2019. Total agent count increased by 3.8% to 131,905 agents.
Total agent count increased 3.8% to 131,905 agents.
U.S. and Canada combined agent count decreased 1.4% to 82,972 agents.
Total Revenue of $52.2 million; Revenue excluding the Marketing Funds decreased 24.2% to $40.4 million.
Net income attributable to RE/MAX Holdings, Inc. was $3.5 million and GAAP EPS was $0.19.
Forward Guidance
This press release includes forward-looking statements regarding agent count, franchise sales, revenue, operating expenses, dividends, non-GAAP financial measures, housing and mortgage market conditions, and the impact of the COVID-19 pandemic.
Positive Outlook
- Agent count
- Franchise sales
- Revenue
- Dividends
- Housing market rebounding
Challenges Ahead
- Operating expenses
- Non-GAAP financial measures
- Mortgage market conditions
- Impact of the COVID-19 pandemic
- The Company's franchisees' ability to recruit and retain real estate agents and mortgage loan originators
Historical Earnings Impact
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Avg. Return Before/After Earnings
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