Realogy Holdings (RLGY) Reports In-Line Q3 EPS, Raises FY Guidance
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Realogy Holdings (NYSE: RLGY) reported Q3 EPS of $0.75, in-line with the analyst estimate of $0.75. Revenue for the quarter came in at $1.67 billion versus the consensus estimate of $1.65 billion.
Increases Full-Year 2015 Guidance
The Company is raising its outlook for Adjusted EBITDA to a range of $830 million to $845 million, up from its previously provided range of $810 million to $840 million. The Company is also raising its Adjusted EBITDA margin outlook for the full year 2015 to a range of 14.4% to 14.6%, up from its previously provided range of 14.1% to 14.3%.
Hull continued: "Our updated Adjusted EBITDA and margin guidance reflects our strong momentum going into the fourth quarter."
The Company ended the quarter with cash and cash equivalents of $567 million and no outstanding borrowings under its revolving credit facility. Total long-term corporate debt, including the short portion, net of cash and cash equivalents, totaled $3,330 million at September 30, 2015. The ratio of total corporate debt, net of cash and cash equivalents, to Adjusted EBITDA for the 12 months ended September 30, 2015 was 4.0 times. The Company reached this ratio one quarter earlier than it had anticipated.
For earnings history and earnings-related data on Realogy Holdings (RLGY) click here.
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