RE/MAX Holdings (RMAX) Tops Q3 EPS by 4c, provides outlook

RE/MAX Holdings (NYSE: RMAX) reported Q3 EPS of $0.40, $0.04 better than the analyst estimate of $0.36. Revenue for the quarter came in at $81.2 million versus the consensus estimate of $81.65 million.

Outlook

The Company\'s fourth quarter and full-year 2023 Outlook assumes no further currency movements, acquisitions, or divestitures.

For the fourth quarter of 2023, RE/MAX Holdings expects:

Agent count to increase 0.25% to 1.25% over fourth quarter 2022;
Revenue in a range of $74.0 million to $79.0 million (including revenue from the Marketing Funds in a range of $20.0 million to $22.0 million); and
Adjusted EBITDA in a range of $20.5 million to $23.5 million.

For the full year 2023, the Company is slightly increasing its agent count guidance and narrowing its Revenue and Adjusted EBITDA guidance ranges and expects:

Agent count to increase 0.25% to 1.25% over full year 2022, changed from 0.0% to 1.0%;
Revenue in a range of $323.0 million to $328.0 million (including revenue from the Marketing Funds in a range of $83.0 million to $85.0 million), changed from $320.0 million to $332.0 million (including revenue from the Marketing Funds in a range of $82.5 million to $86.5 million); and
Adjusted EBITDA in a range of $94.0 million to $97.0 million, changed from $92.0 million to $98.0 million.

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

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