Realogy Holdings (RLGY) Misses Q2 EPS by 3c; Offers Guidance

Realogy Holdings (NYSE: RLGY) reported Q2 EPS of $0.74, $0.03 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $1.66 billion versus the consensus estimate of $1.71 billion.

For the third quarter of 2016, Realogy expects to achieve overall homesale transaction volume gains in the range of 1% to 4% year-over-year. Based on the Company's closed and open sales activity in July, Realogy expects third quarter homesale transaction sides to increase between 1% and 3% year-over-year and average homesale price to be in the flat to 1% range. The disparity in transaction volume between RFG and NRT is expected to continue for the remainder of the year. RFG volume in the third quarter is anticipated to increase between 4% to 6%, while NRT transaction volume is expected to be down by 1% to 3%.

For the full year 2016, Realogy expects to deliver Adjusted (Covenant) EBITDA of $845 million to $885 million and Adjusted (Covenant) EBITDA margin of 14.7% to 15.0%. Realogy expects to convert approximately 60% of its forecasted Operating EBITDA, expected to be between $760 million and $800 million, into free cash flow ranging between $450 million and $500 million.

For earnings history and earnings-related data on Realogy Holdings (RLGY) click here.

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