NYSE$RMAX
RE/MAX Holdings · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
RE/MAX reported solid performance in Q3 2022, driven by the RE/MAX INTEGRA acquisition and growth in the mortgage business, offsetting difficult housing market conditions.
RE/MAX Holdings reported a total revenue of $88.9 million, a 2.3% decrease compared to Q3 2021. Net income attributable to RE/MAX Holdings was $0.1 million, with GAAP EPS of $0.01. Adjusted EBITDA decreased by 9.5% to $31.5 million, and adjusted EPS was $0.56. The total agent count increased by 2.4% to 144,300 agents.
- Total revenue decreased by 2.3% to $88.9 million.
- Net income attributable to RE/MAX Holdings, Inc. was $0.1 million, with a GAAP EPS of $0.01.
- Adjusted EBITDA decreased by 9.5% to $31.5 million, with an adjusted EPS of $0.56.
- Total agent count increased by 2.4% to 144,300 agents.
Headline financials
Revenue & EPS history
RE/MAX · Revenue · Quarterly
$88.9M
Revenue by segment
RE/MAX · $92.2M total across 5 segments · Q2 2022
- Continuing franchise fees$34.1M—37.0%
- Marketing Funds fees$22.9M—24.9%
- Broker fees$19.3M—21.0%
- Annual dues$9.02M—9.8%
- Franchise sales and other revenue$6.8M—7.4%
Forward guidance
The Company's fourth quarter and full-year 2022 Outlook assumes no further currency movements, acquisitions or divestitures.
Tailwinds
- Agent count to increase 1.0% to 2.0% over fourth quarter 2021
- Revenue in a range of $80.0 million to $85.0 million (including revenue from the Marketing Funds in a range of $21.5 million to $23.5 million)
- Adjusted EBITDA in a range of $23.0 million to $27.0 million
- Agent count to increase 1.0% to 2.0% over full-year 2021, down from 1.0% to 2.5%
- Revenue in a range of $352.0 million to $357.0 million (including revenue from the Marketing Funds in a range of $90.0 million to $92.0 million), down from $354.0 million to $364.0 million (including revenue from the Marketing Funds in a range of $90.0 million to $93.0 million)
Headwinds
- Adjusted EBITDA in a range of $118.0 million to $122.0 million, down from $123.0 million to $128.0 million
- Company is reducing its guidance to reflect current housing market conditions
- Company is reducing its guidance to reflect other related macroeconomic trends.
- Agent count to increase 1.0% to 2.0% over full-year 2021, down from 1.0% to 2.5%
- Revenue in a range of $352.0 million to $357.0 million (including revenue from the Marketing Funds in a range of $90.0 million to $92.0 million), down from $354.0 million to $364.0 million (including revenue from the Marketing Funds in a range of $90.0 million to $93.0 million)
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 2022
+0.1%
Avg return
Earnings day
-1.4%
Avg return
5 days after
-2.2%
Avg return
30 days after
55%
28 / 51 earnings
Positive
+13.0%
Q2 2024
Best reaction
-13.7%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.7% | -13.0% | -10.0% | |
| Q4 2025 | -2.2% | -7.5% | -16.1% | |
| Q3 2025 | -3.3% | -6.8% | -0.6% | |
| Q2 2025 | -9.2% | -11.9% | +10.6% | |
| Q1 2025 | +3.4% | +2.6% | -3.1% | |
| Q4 2024 | -10.2% | -7.8% | -12.3% | |
| Q3 2024 | -7.7% | +0.7% | +7.0% | |
| Q2 2024 | +13.0% | +17.6% | +26.2% | |
| Q1 2024 | +7.1% | +12.1% | +12.4% | |
| Q4 2023 | -3.5% | -5.0% | -11.5% | |
| Q3 2023 | +2.7% | -12.9% | -14.7% | |
| Q2 2023 | -1.6% | +2.8% | -16.1% | |
| Q1 2023 | +2.6% | -1.3% | +1.9% | |
| Q4 2022 | -13.7% | -18.3% | -25.9% | |
| Q3 2022 | +1.0% | -5.7% | +12.2% | |
| Q2 2022 | +2.4% | +5.4% | -12.8% | |
| Q1 2022 | -2.4% | +0.3% | +2.2% | |
| Q4 2021 | +1.5% | +1.1% | -4.5% | |
| Q3 2021 | -6.3% | -11.4% | -0.1% | |
| Q2 2021 | +2.3% | +2.2% | -0.3% | |
| Q1 2021 | -1.6% | -3.7% | -6.3% | |
| Q4 2020 | +1.3% | -1.9% | -5.2% | |
| Q3 2020 | -3.8% | -5.0% | -2.6% | |
| Q2 2020 | +6.5% | +11.2% | +5.7% | |
| Q1 2020 | +3.3% | +9.8% | +39.4% | |
| Q4 2019 | -12.8% | -19.6% | -54.4% | |
| Q3 2019 | +9.6% | +9.5% | +13.7% | |
| Q2 2019 | -2.9% | -6.8% | -11.7% | |
| Q1 2019 | -6.0% | -9.5% | -30.4% | |
| Q4 2018 | -1.2% | -3.9% | -9.3% | |
| Q3 2018 | -6.0% | -8.7% | -11.8% | |
| Q2 2018 | +1.5% | +0.3% | -0.5% | |
| Q1 2018 | +0.1% | +0.2% | -3.4% | |
| Q3 2017 | +8.6% | +10.0% | +12.8% | |
| Q4 2017 | +8.6% | +10.0% | +12.8% | |
| Q2 2017 | +9.4% | +5.2% | +7.2% | |
| Q1 2017 | -1.9% | -2.8% | -7.5% | |
| Q4 2016 | -3.2% | -4.9% | -6.1% | |
| Q3 2016 | +5.9% | +9.4% | +23.3% | |
| Q2 2016 | +1.4% | +1.1% | +0.1% | |
| Q1 2016 | +1.8% | — | — | |
| Q4 2015 | -1.2% | — | — | |
| Q3 2015 | +2.9% | — | — | |
| Q2 2015 | -0.7% | — | — | |
| Q1 2015 | +6.0% | — | — | |
| Q4 2014 | +3.9% | — | — | |
| Q3 2014 | +1.1% | — | — | |
| Q2 2014 | +5.0% | — | — | |
| Q1 2014 | -4.3% | — | — | |
| Q4 2013 | -4.7% | — | — | |
| Q3 2013 | +3.5% | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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