NYSE$HOUS
Anywhere Real Estate Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results in line with expectations amidst a challenging housing market.
Anywhere Real Estate Inc. reported a revenue of $1.7 billion, a net income of $19 million, and an Operating EBITDA of $126 million for Q2 2023. The company is focused on cost savings, agent commission costs, and debt reduction.
- Generated revenue of $1.7 billion, a 22% decrease year-over-year, impacted by a 23% decline in homesale transaction volume.
- Reported a net income of $19 million and Adjusted net income of $27 million.
- Operating EBITDA was $126 million, a decrease of $76 million year-over-year.
- Realized second quarter cost savings of approximately $50 million, contributing to $100 million year-to-date savings, and on track for $200 million for the full year.
Headline financials
Revenue & EPS history
Anywhere Real Estate · Revenue · Quarterly
$1.67B
Revenue by segment
Anywhere Real Estate · $1.72B total across 3 segments · Q1 2022
- Owned Brokerage Group$1.26B+7.9%73.4%
- Franchise Group$267M+5.1%15.5%
- Title Group$190M-5.5%11.0%
Forward guidance
The Company expects third quarter 2023 transaction volume to be down around 10% versus prior year. Expects full year 2023 transaction volumes to decline about 15-20% year-over-year and likely towards the better part of that range. The Company continues to expect full year 2023 Operating EBITDA to be below 2022. However, the Company still expects Free Cash Flow from operations to be modestly positive.
Tailwinds
- Quarterly transaction volume comparisons to 2022 are expected to improve throughout 2023.
- Expects Free Cash Flow from operations to be modestly positive.
- Anticipates cost savings of approximately $200 million in 2023, inclusive of year-to-date savings.
- Focus on growing high-margin franchise business.
- Expanding luxury leadership.
Headwinds
- Third quarter 2023 transaction volume expected to be down around 10% versus prior year.
- Full year 2023 transaction volumes are expected to decline about 15-20% year-over-year.
- Full year 2023 Operating EBITDA is expected to be below 2022.
- Macroeconomic and housing market uncertainties, including rising inflation and mortgage rates.
- Competitive, litigation, and regulatory uncertainties.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q2 2023
-1.0%
Avg return
Earnings day
-1.5%
Avg return
5 days after
-0.0%
Avg return
30 days after
52%
29 / 56 earnings
Positive
+22.8%
Q1 2020
Best reaction
-29.6%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -2.8% | +8.7% | +21.3% | |
| Q2 2025 | +10.7% | -4.5% | +32.4% | |
| Q1 2025 | +3.2% | +22.3% | +12.6% | |
| Q4 2024 | -0.5% | +3.8% | -9.8% | |
| Q3 2024 | +4.5% | -4.3% | +20.5% | |
| Q2 2024 | -8.3% | -4.9% | +3.6% | |
| Q1 2024 | -4.3% | -10.2% | -17.0% | |
| Q4 2023 | -7.3% | -15.4% | -31.9% | |
| Q3 2023 | +5.6% | +13.4% | +20.0% | |
| Q2 2023 | +18.0% | +7.7% | -14.9% | |
| Q1 2023 | -19.3% | -10.4% | +10.7% | |
| Q4 2022 | -15.5% | -20.6% | -33.1% | |
| Q3 2022 | +3.3% | -4.3% | -11.0% | |
| Q2 2022 | -4.8% | +0.7% | +3.5% | |
| Q1 2022 | -12.3% | -8.1% | -1.2% | |
| Q4 2021 | +5.4% | +1.3% | -5.9% | |
| Q3 2021 | -12.3% | — | — | |
| Q2 2021 | -5.4% | — | — | |
| Q1 2021 | +13.3% | — | — | |
| Q4 2020 | -12.9% | — | — | |
| Q3 2020 | +12.8% | — | — | |
| Q2 2020 | +2.5% | — | — | |
| Q1 2020 | +22.8% | — | — | |
| Q4 2019 | -10.2% | — | — | |
| Q3 2019 | +5.4% | — | — | |
| Q2 2019 | +17.5% | — | — | |
| Q1 2019 | -29.6% | — | — | |
| Q4 2018 | -22.2% | — | — | |
| Q3 2018 | -9.2% | — | — | |
| Q2 2018 | +4.7% | — | — | |
| Q1 2018 | -0.1% | — | — | |
| Q4 2017 | +3.4% | — | — | |
| Q3 2017 | -11.1% | — | — | |
| Q2 2017 | +4.6% | — | — | |
| Q1 2017 | +2.3% | — | — | |
| Q4 2016 | +3.6% | — | — | |
| Q3 2016 | +6.3% | — | — | |
| Q2 2016 | -11.5% | — | — | |
| Q1 2016 | -8.0% | — | — | |
| Q4 2015 | +2.8% | — | — | |
| Q3 2015 | +6.3% | — | — | |
| Q2 2015 | -10.2% | — | — | |
| Q1 2015 | -5.1% | — | — | |
| Q4 2014 | -2.9% | — | — | |
| Q3 2014 | +5.3% | — | — | |
| Q2 2014 | +5.1% | — | — | |
| Q1 2014 | -11.9% | — | — | |
| Q4 2013 | +2.0% | — | — | |
| Q3 2013 | +7.9% | — | — | |
| Q2 2013 | -4.5% | — | — | |
| Q1 2013 | +2.1% | — | — | |
| Q1 2012 | +2.1% | — | — | |
| Q2 2012 | -3.2% | — | — | |
| Q4 2012 | -4.9% | — | — | |
| Q3 2012 | +6.2% | — | — | |
| Q3 2011 | +6.2% | — | — | |
| Q2 2011 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q4 2009 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q1 2010 | — | — | — |
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