Realogy Holdings (RLGY) Tops Q4 EPS by 11c, Revenues Miss

Realogy Holdings (NYSE: RLGY) reported Q4 EPS of $0.20, $0.11 better than the analyst estimate of $0.09. Revenue for the quarter came in at $1.33 billion versus the consensus estimate of $1.4 billion.

Fourth Quarter 2019 Highlights

• Generated Revenue of $1.3 billion, an increase of 4% year over year.
• Delivered 6% transaction volume growth with solidly positive growth across both our owned and franchise businesses.
• Reported a Net loss of $45 million, driven by the fair value adjustment on the assets being sold as well as tax expense associated with the tax gain on the relocation sale.
• Generated Operating EBITDA including discontinued operations of $126 million, an increase of 19% year- over-year (See Table 4a).
• Achieved approximately $30 million of realized cost savings.
• Delivered Operating EBITDA margin improvement at Realogy.
• Generated Free Cash Flow including discontinued operations of $77 million

"In 2019 we accelerated our efforts to support and grow Realogy's affiliated agents and franchisees, delivering new products and partnerships to enhance our value proposition, generate high-quality leads, and enhance the consumer experience," said Ryan Schneider, Realogy's chief executive officer and president. "Our industry leading foundation – substantial size and scale, strong brands, deep technology and data access, and solid financial engine – combined with our 2019 accomplishments, a more rational competitive environment late in the year, and improving housing market, continue to drive my excitement for Realogy in the year ahead."

"The fourth quarter marked a strong close to Realogy's year, driven by solid performance, both financially and operationally, across the business," said Charlotte Simonelli, Realogy's executive vice president, chief financial officer and treasurer. "In 2019, we demonstrated a willingness to change our business mix to optimize our capital deployment and simplify our company, and we will remain thoughtful and deliberate in our approach as we work to build a stronger overall financial profile for Realogy."

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

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