RE/MAX Holdings (RMAX) Tops Q3 EPS by 3c, Offers Outlook

RE/MAX Holdings (NYSE: RMAX) reported Q3 EPS of $0.43, $0.03 better than the analyst estimate of $0.40. Revenue for the quarter came in at $44.2 million versus the consensus estimate of $40.31 million.

Outlook

Based on the Company's performance through the first nine months of this year, the Company is providing the following outlook for its fourth quarter and its full-year 2014:

Fourth Quarter 2014 Outlook:

• Agent count is estimated to increase by 4% to 5% over fourth quarter 2013;
• Revenue is estimated to increase by 4% to 5% over fourth quarter 2013;
• Selling, operating and administrative expenses are estimated to be 50% to 51% of revenue;
• Adjusted EBITDA margin is estimated to be in the 49% to 50% range; and
• Capital expenditure of $1.4 million.

Full-Year 2014 Outlook:

• Agent count is estimated to increase by 4% to 5% over 2013 (trending to the high end);
• Revenue is estimated to increase by 6% to 7% over 2013 (trending to the high end);
• Improving selling, operating and administrative expenses estimate to 51% to 52% of revenue from 52% to 54% of 2014 revenue;
• Increasing Adjusted EBITDA margin estimate to 49% to 49.5% from 47% to 49%; and
• Capital expenditure of $2.5 million.

For earnings history and earnings-related data on RE/MAX Holdings (RMAX) click here.

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