"The firm is projecting $4 billion to $4.2 billion in revenue for the second quarter and an adjusted EBITDA of $310 million to $350 million. The firm said it expects to be free cash flow positive for the year. Compass stock was up almost 17 percent to $8.48 in after-hours trading."
Compass International Holdings reported first-quarter results with contraction in some areas and cost savings following its merger with Anywhere Real Estate. Pro forma revenue increased 7% and pro forma transaction count rose 2.6%, exceeding market growth by more than two percentage points. Adjusted EBITDA totaled $61 million, with $484 million in cash and no revolver balance, while total debt was $3.14 billion. Free cash flow was negative at $168 million. Franchise transactions were roughly flat, franchise royalties per side fell 5% to $438, and title and escrow transactions rose over 13% to 31,698. Agent count declined to 84,187, with retention at 94%, and the company projected second-quarter revenue of $4.0 billion to $4.2 billion and adjusted EBITDA of $310 million to $350 million, expecting full-year free cash flow positivity.
#real-estate-brokerage #earnings-and-financial-results #mergers-and-acquisitions #agent-retention #revenue-and-ebitda-guidance
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