Douglas Elliman Inc · Q3 2022 earnings

Briefing

Reported financial results for the third quarter of 2022.

Douglas Elliman Inc. reported a challenging third quarter in 2022, with consolidated revenues decreasing to $272.6 million compared to $354.2 million in the prior year period. The company experienced an operating loss of $5.2 million and a net loss of $4.0 million, or $0.05 per diluted common share. Despite these challenges, Douglas Elliman maintained a strong balance sheet with cash and cash equivalents of $192.7 million.

• Consolidated revenues decreased to $272.6 million compared to $354.2 million in the prior year period.
• Real estate brokerage segment achieved gross transaction value of approximately $11.0 billion, compared to approximately $13.4 billion for the three months ended September 30, 2021.
• Company recorded an operating loss of $5.2 million compared to an operating income of $25.5 million in the prior year period.
• Net loss attributed to Douglas Elliman was $4.0 million, or $0.05 per diluted common share, compared to net income of $25.2 million, or $0.32 per diluted common share, in the prior year period.

Headline financials

Revenue & EPS history

Douglas Elliman is optimistic about its future, citing a strong balance sheet, global network, and luxury brand positioning the company to capitalize on opportunities as financial markets stabilize. They are confident that their differentiated platform and approach will enable continued long-term growth.