NASDAQ$CSGP
CoStar Group Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
CoStar's Q3 2020 revenues increased 21% year-over-year, with third-quarter sales of $53 million, a 53% increase above second-quarter 2020 sales.
CoStar Group's Q3 2020 revenues reached $426 million, a 21% increase year-over-year. The company achieved record traffic to its platforms and strong sales growth in Apartments.com and LoopNet.
- CoStar Group's Q3 2020 revenue increased by 21% year-over-year, reaching $426 million.
- Net income for Q3 2020 was $58 million, or $1.48 per diluted share.
- Adjusted EBITDA for Q3 2020 was $134 million, a 3% increase compared to Q3 2019.
- Company-wide net new sales bookings reached $53 million in Q3 2020, with LoopNet sales increasing over 130% from Q3 2019.
Headline financials
Revenue & EPS history
CoStar · Revenue · Quarterly
$426M
Revenue by segment
CoStar · $311M total across 3 segments · Q3 2023
- CoStar$233M+9.7%75.0%
- LoopNet$67.5M+14.6%21.7%
- Residential$10.3M-46.8%3.3%
Forward guidance
The Company expects revenue in the range of $1.644 billion to $1.650 billion for the full year of 2020, representing growth of approximately 18% for the year, and revenue for the fourth quarter of 2020 in the range of $429 million to $435 million, representing revenue growth of 15% year-over-year at the midpoint of the range. The Company expects adjusted EBITDA in a range of $525 million to $530 million for the full year of 2020, an increase of 4% at the midpoint of the range compared to 2019.
Tailwinds
- Full year 2020 revenue expected to grow approximately 18%.
- Q4 2020 revenue expected to grow 15% year-over-year.
- Full year 2020 adjusted EBITDA expected to increase 4% compared to 2019.
- Q4 2020 adjusted EBITDA expected in the range of $139 million to $144 million.
- Full-year 2020 non-GAAP net income per diluted share in a range of $9.39 to $9.49.
Headwinds
- Uncertainty surrounding the impact of the COVID-19 pandemic.
- Risk that trends related to revenue, net income, and sales may not be sustained.
- Risk that CoStar and Emporis cannot be combined successfully.
- Risk that revenues for the fourth quarter and full year 2020 will not be as stated.
- Possibility that the acquisition of RentPath does not close when expected or at all.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+1.0%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.0%
Avg return
30 days after
59%
39 / 66 earnings
Positive
+16.2%
Q2 2013
Best reaction
-17.6%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -4.2% | -10.9% | |
| Q4 2025 | +2.7% | -8.1% | -19.1% | |
| Q3 2025 | -10.1% | -11.3% | -12.1% | |
| Q2 2025 | +1.9% | +0.3% | -1.3% | |
| Q1 2025 | -10.3% | -6.8% | -11.1% | |
| Q4 2024 | +5.0% | +2.7% | +4.0% | |
| Q3 2024 | -5.9% | -3.7% | -0.5% | |
| Q2 2024 | +1.1% | +4.0% | +0.1% | |
| Q1 2024 | +7.8% | +8.6% | +0.4% | |
| Q4 2023 | +3.2% | +4.2% | +20.1% | |
| Q3 2023 | -3.2% | -3.6% | +14.5% | |
| Q2 2023 | -6.8% | -9.8% | -12.2% | |
| Q1 2023 | +2.4% | +9.5% | +10.3% | |
| Q4 2022 | -7.0% | -8.8% | -15.1% | |
| Q3 2022 | +12.1% | +16.1% | +12.1% | |
| Q2 2022 | +13.1% | +17.9% | +17.7% | |
| Q1 2022 | +1.7% | +1.5% | -5.2% | |
| Q4 2021 | -17.6% | -5.0% | +3.8% | |
| Q3 2021 | -9.4% | -13.2% | -19.6% | |
| Q2 2021 | -2.6% | -0.5% | -7.2% | |
| Q1 2021 | -7.6% | -8.4% | -9.5% | |
| Q4 2020 | -4.6% | -6.0% | -8.4% | |
| Q3 2020 | -4.5% | -0.9% | +5.9% | |
| Q2 2020 | +15.3% | +18.2% | +17.7% | |
| Q1 2020 | +5.4% | +0.8% | +4.7% | |
| Q4 2019 | -3.5% | -5.6% | -17.5% | |
| Q3 2019 | -3.8% | -4.1% | -0.4% | |
| Q2 2019 | +7.6% | +8.6% | +5.5% | |
| Q1 2019 | -2.6% | +0.2% | +5.6% | |
| Q4 2018 | +10.5% | +16.0% | +12.3% | |
| Q3 2018 | -6.7% | -7.8% | -6.8% | |
| Q2 2018 | +1.6% | -2.1% | +0.9% | |
| Q1 2018 | +2.1% | -2.1% | +1.0% | |
| Q4 2017 | -0.1% | +0.4% | +2.7% | |
| Q3 2017 | +3.0% | +4.9% | +10.5% | |
| Q2 2017 | -2.7% | -2.3% | +0.6% | |
| Q1 2017 | +9.5% | +12.2% | +19.8% | |
| Q4 2016 | -4.6% | -3.5% | -1.7% | |
| Q3 2016 | -9.2% | -11.6% | -3.9% | |
| Q2 2016 | -7.5% | -8.3% | -7.2% | |
| Q1 2016 | +6.3% | — | — | |
| Q4 2015 | -0.9% | — | — | |
| Q3 2015 | +6.0% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | +4.8% | — | — | |
| Q3 2014 | +6.8% | — | — | |
| Q2 2014 | +7.9% | — | — | |
| Q1 2014 | -6.8% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | +0.1% | — | — | |
| Q2 2013 | +16.2% | — | — | |
| Q1 2013 | -0.3% | — | — | |
| Q4 2012 | +4.9% | — | — | |
| Q3 2012 | +6.9% | — | — | |
| Q2 2012 | +4.7% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q1 2012 | +3.9% | — | — | |
| Q4 2009 | +4.3% | — | — | |
| Q4 2011 | +4.3% | — | — | |
| Q3 2010 | +7.6% | — | — | |
| Q3 2011 | +7.6% | — | — | |
| Q2 2010 | +3.2% | — | — | |
| Q4 2010 | +3.2% | — | — | |
| Q2 2011 | +3.2% | — | — | |
| Q1 2010 | -0.9% | — | — |
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