NYSE$MMI
Marcus & Millichap · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Marcus & Millichap's financial performance was impacted by the COVID-19 pandemic, resulting in decreased revenues and net income, although cost-saving measures partially offset the negative effects.
Marcus & Millichap reported a 44.0% decrease in total revenues to $117.4 million for the second quarter of 2020, compared to the same period in 2019. Net income was $106,000, significantly lower than the $21.3 million reported in the prior year, but aided by cost savings actions. The company's performance was impacted by the COVID-19 pandemic, which adversely affected the ability to transact business.
- Total revenues decreased by 44.0% to $117.4 million due to the COVID-19 pandemic.
- Net income was $106,000, significantly lower compared to the prior year, but aided by cost savings actions.
- Revenue from financing fees decreased by 28.4% to $12.7 million.
- Real estate brokerage commissions decreased 45.2% to $103.4 million.
Headline financials
Revenue & EPS history
Marcus & Millichap · Revenue · Quarterly
$117M
Revenue by segment
Marcus & Millichap · $163M total across 4 segments · Q1 2021
- Private Client Market$105M—64.8%
- Larger Transaction Market$30.6M—18.8%
- Middle Market$20.6M—12.7%
- Less than $1 million$6.14M—3.8%
Forward guidance
The company anticipates the market will likely remain hampered in the short term due to new COVID-19 cases and a wide gap in price expectations.
Tailwinds
- Gradual improvement in pricing visibility.
- Gradual improvement in business execution.
- Gradual improvement in financing availability.
- Record-low interest rates may facilitate an eventual recovery in real estate transactions.
- Release of pent-up demand may facilitate an eventual recovery in real estate transactions.
Headwinds
- Market will likely remain hampered in the short term due to new COVID-19 cases.
- Market will likely remain hampered in the short term due to a wide gap in price expectations.
- Slower transaction velocity is expected as a result of the impact of COVID-19.
- Volatility in market sales and investor sentiment.
- Global geopolitical uncertainty may cause investors to refrain from transacting.
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 Q2 2020
+1.5%
Avg return
Earnings day
-0.1%
Avg return
5 days after
-0.7%
Avg return
30 days after
66%
33 / 50 earnings
Positive
+16.9%
Q1 2015
Best reaction
-29.3%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.2% | +3.6% | +3.7% | |
| Q4 2025 | +3.4% | +2.9% | +1.6% | |
| Q3 2025 | -0.5% | +2.8% | -1.9% | |
| Q1 2025 | +2.6% | +4.2% | +1.1% | |
| Q4 2024 | +5.4% | +3.6% | -7.2% | |
| Q3 2024 | +4.3% | +2.5% | +2.4% | |
| Q2 2024 | -0.5% | -5.6% | -1.9% | |
| Q1 2024 | +2.0% | +1.0% | -8.3% | |
| Q4 2023 | -3.4% | -7.5% | -17.4% | |
| Q3 2023 | +8.7% | +3.9% | +17.9% | |
| Q2 2023 | +0.5% | -2.8% | -9.8% | |
| Q1 2023 | -4.9% | -8.7% | -0.0% | |
| Q4 2022 | -2.2% | -1.8% | -12.8% | |
| Q3 2022 | +2.3% | -1.9% | +7.9% | |
| Q2 2022 | +0.1% | -2.3% | -9.4% | |
| Q1 2022 | -5.2% | -9.4% | -8.4% | |
| Q4 2021 | +5.4% | +0.4% | +3.3% | |
| Q3 2021 | +6.5% | +1.9% | -2.4% | |
| Q2 2021 | -1.1% | -1.2% | +0.1% | |
| Q1 2021 | +3.0% | -0.1% | +6.3% | |
| Q4 2020 | +4.2% | +4.0% | -10.4% | |
| Q3 2020 | +2.1% | +10.7% | +17.1% | |
| Q2 2020 | -0.1% | +3.0% | +8.2% | |
| Q1 2020 | +9.5% | -5.4% | +21.2% | |
| Q4 2019 | +1.0% | -9.5% | -34.9% | |
| Q3 2019 | -7.3% | -4.1% | +1.9% | |
| Q2 2019 | +10.0% | +12.5% | +15.7% | |
| Q1 2019 | -15.1% | -18.0% | -28.7% | |
| Q4 2018 | +1.0% | -2.3% | -4.2% | |
| Q3 2018 | +5.1% | +5.4% | -0.8% | |
| Q2 2018 | -3.0% | -3.8% | -10.2% | |
| Q1 2018 | +6.6% | +6.0% | +9.9% | |
| Q4 2017 | +9.3% | +10.1% | +5.9% | |
| Q3 2017 | +5.5% | +3.7% | +7.8% | |
| Q2 2017 | +5.4% | -0.6% | +0.5% | |
| Q1 2017 | -3.7% | -6.4% | -0.7% | |
| Q4 2016 | -1.0% | -2.4% | -8.7% | |
| Q3 2016 | +2.0% | +4.4% | +18.0% | |
| Q2 2016 | +5.2% | +4.9% | -1.7% | |
| Q1 2016 | +10.5% | — | — | |
| Q4 2015 | +2.9% | — | — | |
| Q3 2015 | -29.3% | — | — | |
| Q2 2015 | -4.3% | — | — | |
| Q1 2015 | +16.9% | — | — | |
| Q4 2014 | -6.1% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | +8.2% | — | — | |
| Q1 2014 | +11.0% | — | — | |
| Q4 2013 | -3.0% | — | — | |
| Q3 2013 | +1.6% | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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