NYSE$HOUS
Anywhere Real Estate Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported strong results driven by distinct advantages, accelerating transformation and building future financial strength.
Anywhere Real Estate Inc. reported relatively flat revenue year-over-year at $1.7 billion for Q2 2024, but saw an increase in combined homesale transaction volume. Net income increased by $11 million to $30 million, and Operating EBITDA improved by $13 million to $139 million. The company is increasing its full-year cost savings expectations by $20 million to $120 million.
- Revenue was $1.7 billion, essentially flat year-over-year, with increases in combined homesale transaction volume offset by softness in relocation revenue.
- Combined closed transaction volume increased 3% year-over-year with units down about 5% and price up 8%.
- Net Income increased $11 million and Adjusted Net Income increased $10 million versus 2023.
- Operating EBITDA of $139 million, a $13 million improvement year-over-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 is increasing the amount it expects to realize in cost savings by $20 million to $120 million in 2024. The Company expects its Free Cash Flow excluding one-time items to be approximately $100 million in 2024.
Tailwinds
- Increasing cost savings by $20 million to $120 million in 2024.
- Expecting Free Cash Flow excluding one-time items to be approximately $100 million in 2024.
- Antitrust litigation settlement received final court approval.
- Well-positioned for success with resources and support for affiliated agents and franchisees as we approach upcoming industry practice changes.
- The company's combined homesale transaction volume (transaction sides multiplied by average sale price) increased 3% compared with the second quarter of 2023.
Headwinds
- Macroeconomic and housing market uncertainties, including those related to rising inflation.
- Declining affordability and constrained inventory.
- Competitive, litigation and regulatory uncertainties.
- Free cash flow estimates do not include any potential financial impact relating to the implementation of industry settlement practice changes, which remain uncertain.
- One-time items are now estimated to be approximately $60 million, and consist of a $20 million payment towards our antitrust litigation settlement and approximately $40 million for a 1999 Cendant legacy tax matter.
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 2024
-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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