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ANYWHERE REAL ESTATE INC. REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS
MADISON, N.J., April 29, 2025 /PRNewswire/ -- Anywhere Real Estate Inc. (NYSE: HOUS) ("Anywhere" or the "Company"), a global leader in residential real estate services, today reported financial results for the first quarter ended March 31, 2025.
"Anywhere continues to prove the advantage of our unique assets, including our unmatched scale, high-margin franchise network, luxury leadership, and integrated end-to-end transaction experience. Those assets are driving differentiated success today and help fuel our growth and transformation as we look to the future," said Ryan Schneider, Anywhere president and CEO.
"Anywhere is on offense, seizing opportunities to fortify our market-leading position today while making smart moves to transform our operations, accelerate our strategic momentum, and build on our financial progress," said Charlotte Simonelli, Anywhere executive vice president, chief financial officer, and treasurer.
Schneider added: "Further, as our industry grapples with changing practices, Anywhere is reaffirming our commitment to doing what's best for the consumer, starting with advocating for transparency, consumer choice, and the broad, public distribution of real estate listings to help customers get the best price for their home."
First Quarter 2025 Highlights
- Generated Revenue of $1.2 billion, an increase of $78 million year-over-year.
- Reported Net Loss of $78 million, an improvement of $23 million year-over-year. Adjusted Net Loss of $64 million improved $21 million versus first quarter of 2024 (See Table 1a).
- Operating EBITDA loss of $1 million, a $12 million improvement year-over-year (See Table 5).
- Combined closed transaction volume increased 6% year-over-year, with units down about 4% and price up 11%. The Company's closed transaction volume increase outperformed the 3% year-over-year market volume growth reported by the National Association of Realtors (NAR) in the quarter. This market share gain in the quarter was driven by luxury success and differential growth in California and New York City.
- Continued strength in luxury with Coldwell Banker Global Luxury, Corcoran, and Sotheby's International Realty brands significantly outperforming the market, with closed transaction volume increasing approximately 16% year-over-year.
- Welcomed 11 new US franchisees and added two new international expansions to our high-margin franchise network in the first quarter of 2025.
- Agent commission splits of 80.4% in the first quarter increased 39 basis points year-over-year. It is the 12th straight quarter of commission splits at approximately 80%.
- Realized cost savings of $14 million in the first quarter of 2025 and on track to deliver $100 million for full year 2025.
- Free Cash Flow of negative $130 million, reflecting seasonal use of cash for the business, improved from negative $145 million in 2024 (See Table 7).
- Anywhere was recognized as one of the World's Most Ethical Companies® for the 14th consecutive year.
First Quarter 2025 Financial Highlights
The following table sets forth the Company's financial highlights for the periods presented (in millions, except per share data) (unaudited):
| | Three Months Ended March 31, | ||||||
| | 2025 | | 2024 | | Change | | % Change |
| Revenue | $ 1,204 | | $ 1,126 | | $ 78 | | 7 % |
| Operating EBITDA 1, 2 | (1) | | (13) | | 12 | | 92 |
| Net loss attributable to Anywhere | (78) | | (101) | | 23 | | 23 |
| Adjusted net loss 1, 3 | (64) | | (85) | | 21 | | 25 |
| Loss per share | (0.70) | | (0.91) | | 0.21 | | 23 |
| Free Cash Flow 4 | (130) | | (145) | | 15 | | 10 |
| Net cash used in operating activities | $ (105) | | $ (122) | | $ 17 | | 14 % |
| | | | | | | | |
| Select Key Drivers | | | | | | | |
| Anywhere Brands - Franchise Group 5, 6 | | | | | | | |
| Closed homesale sides | 137,089 | | 144,775 | | | | (5) % |
| Average homesale price | $ 516,999 | | $ 470,119 | | | | 10 % |
| Anywhere Advisors - Owned Brokerage Group 6 | | | | | | | |
| Closed homesale sides | 49,461 | | 50,513 | | | | (2) % |
| Average homesale price | $ 799,750 | | $ 709,506 | | | | 13 % |
| Anywhere Integrated Services - Title Group | | | | | | | |
| Purchase title and closing units | 21,349 | | 21,325 | | | | — % |
| Refinance title and closing units | 2,504 | | 2,025 | | | | 24 % |
| | _______________ |
| | Footnotes: |
| | 1 Effective December 31, 2024, the Company updated its definitions of Operating EBITDA and Adjusted net income (loss) to include |
| | 2 See Table 5 for a reconciliation of Net loss attributable to Anywhere to Operating EBITDA. Operating EBITDA is defined as net income |
| | 3 See Table 1a for a reconciliation of Net loss attributable to Anywhere to Adjusted net loss. Adjusted net income (loss) is defined as net |
| | 4 See Table 7 for a reconciliation of Net loss attributable to Anywhere to Free Cash Flow. Free Cash Flow is defined as net income (loss) |
| | 5 Includes all franchisees except for Owned Brokerage Group. |
| | 6 As of March 31, 2025, the Company's combined homesale transaction volume (transaction sides multiplied by average sale price) increased |
2025 Financial Estimates
The Company expects to realize cost savings of approximately $100 million in 2025, which we expect will be offset in part by inflationary pressures and investments as we look to make significant progress transforming our business.
The Company expects Operating EBITDA for full year 2025 to be about $350 million. The largest variable in this estimate is the performance of the housing market.
The Company expects Operating EBITDA for the second quarter of 2025 to be similar to the Operating EBITDA for the second quarter of 2024.
The Company expects its Free Cash Flow excluding one-time items to be similar to 2024. Free Cash Flow, like Operating EBITDA, is driven by the overall housing market and may be impacted by additional investments we make to drive growth and advance our technology strategy.
The one-time items are estimated to be approximately $115 million and consist of three payments we expect to make in 2025. First, the final $54 million payment towards our antitrust litigation settlement will be due when appeals are resolved, the timing of which is uncertain. Second, approximately $41 million for a 1999 Cendant legacy tax matter. Third, an approximately $20 million payment for the January 2025 settlement of the Company's TCPA litigation, subject to final court approval.
These estimates are subject to, among other things, macroeconomic and housing market uncertainties, including those related to declining affordability, constrained inventory and competitive, litigation and regulatory uncertainties. See "Forward-Looking Statements" below.
Balance Sheet
Total corporate debt, including the short-term portion, net of cash and cash equivalents (net corporate debt), totaled $2.6 billion at March 31, 2025. The Company ended the quarter with cash and cash equivalents of $110 million. The Company's Senior Secured Leverage Ratio was 1.51x at March 31, 2025 (see Table 8a). The Company's Net Debt Leverage Ratio was 7.2x at March 31, 2025 (see Table 8b).
As of April 28, 2025 the Company had $690 million of outstanding borrowings under its Revolving Credit Facility.
A consolidated balance sheet is included as Table 2 of this press release.
Investor Conference Call
Today, April 29, at 8:30 a.m. (ET), Anywhere will hold a conference call via webcast to review its Q1 2025 results and provide a business update. The webcast will be hosted by Ryan Schneider, chief executive officer and president, and Charlotte Simonelli, chief financial officer, and will conclude with an investor Q&A period with management.
To access the live webcast of the conference call or to view a replay, visit the company's investor relations website at https://ir.anywhere.re/.
The conference call can also be accessed by registering online at the Event Registration Page, at which time registrants will receive dial-in information as well as a conference ID. Registration can be completed in advance of the conference call.
About Anywhere Real Estate Inc.
Anywhere Real Estate Inc. (NYSE: HOUS) is moving real estate to what's next. We fulfill our purpose to empower everyone's next move through our leading integrated services, which include franchise, brokerage, relocation, and title and settlement businesses, as well as mortgage and title insurance underwriter minority owned joint ventures. Our brands are some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Every day, we help fuel the productivity of our vast network of franchise owners and our more than 300,000 affiliated agents globally as they build stronger businesses and best serve today's consumers. Learn more about our award-winning culture of innovation and integrity at www.anywhere.re.
Forward-Looking Statements
This press release contains "forward-looking statements," within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "believes", "expects", "anticipates", "intends", "projects", "estimates", "potential" and "plans" and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could", and include statements that refer to expectations or other characterizations of future events, circumstances or results. Examples of forward-looking statements include, but are not limited to, the information appearing under 2025 Financial Estimates.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anywhere Real Estate Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The following include some, but not all, of the factors that could affect our future results and cause actual results to differ materially from those expressed in the forward-looking statements: downturns and disruptions in the residential real estate market, which could include, but are not limited to, factors that impact homesale transaction volume, such as: prolonged periods of a high mortgage rate and/or high inflation rate environment, continued or accelerated reductions in housing affordability, insufficient or excessive inventory and continued or accelerated declines, the absence of significant increases in the number of home sales, stagnant or declining home prices, or changes in consumer preferences in the U.S.; adverse developments or the absence of sustained improvement in macroeconomic conditions (such as business, economic or political conditions) on a global, domestic or local basis, including those arising from actual or potential changes in trade policy; changes to industry rules or practices that prohibit, restrict or adversely alter policies, practices, rules or regulations governing the functioning of the residential real estate market (regardless of whether such changes are driven by regulatory action, litigation outcomes, or otherwise); the impact of evolving competitive and consumer dynamics, including: meaningful decreases in the average broker commission rate, continued erosion of the Company's share of the commission income generated by homesale transactions, our ability (and the ability of affiliated joint ventures and franchisees) to compete against traditional and non-traditional competitors, our ability to adapt our business to changing consumer preferences, or further disruption in the residential real estate brokerage industry related to listing aggregator market power and concentration; our ability to execute our business strategy, including with respect to our efforts to: recruit and retain productive independent sales agents, attract and retain franchisees or renew existing franchise agreements without reducing contractual royalty rates or increasing the amount and prevalence of sales incentives, develop or procure products, services and technology that support our strategic initiatives, successfully adopt and integrate artificial intelligence and similar technology into our products and services, or achieve or maintain cost savings and other benefits from our cost-saving initiatives; adverse developments or outcomes in large scale litigation, involving significant claims, such as antitrust litigation and litigation related to the Telephone Consumer Protection Act (TCPA); risks related to our substantial indebtedness, in general, particularly heightened during industry downturns or broader recessions, which could adversely limit our operations, including our ability to grow our business, whether organically or via acquisitions, adversely impact our liquidity and/or adversely impact our ability, and any actions we may take, to refinance, restructure or repay our indebtedness; risks related to our ability to refinance or restructure our substantial indebtedness that will mature (or may spring forward) in 2026 on terms as favorable as those of currently outstanding debt, or at all, including as a result of global and national macroeconomic factors and their impact on the credit and capital markets; risks related to our business structure, including: the operating results of affiliated franchisees and their ability to pay franchise and related fees, continued consolidation among our top 250 franchisees, the geographic and high-end market concentration of our company owned brokerages, the loss of our largest real estate benefit program client or continued reduction in spending on relocation services, the failure of third-party vendors or partners to perform as expected or our failure to adequately monitor them, our ability to continue to securitize certain of the relocation assets of Cartus; our failure or alleged failure to comply with laws, regulations and regulatory interpretations and any changes or stricter interpretations of any of the foregoing, including but not limited to (1) antitrust laws and regulations, (2) the Real Estate Settlement Procedures Act or other federal or state consumer protection or similar laws, (3) state or federal employment laws or regulations that would require reclassification of independent contractor sales agents to employee status, (4) the TCPA, and (5) privacy or cybersecurity laws and regulations; cybersecurity incidents; impacts from severe weather events, natural disasters and other catastrophic events; impairment of our goodwill and other long-lived assets; the accuracy of market forecasts and estimates; and significant fluctuation in the price of our common stock.
Consideration should be given to the areas of risk described above, as well as those risks set forth under the headings "Forward-Looking Statements," "Summary of Risk Factors" and "Risk Factors" in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024, and our other filings made from time to time, in connection with considering any forward-looking statements that may be made by us and our businesses generally. We undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events except as required by law.
Non-GAAP Financial Measures
This release includes certain non-GAAP financial measures as defined under SEC rules. As required by SEC rules, important information regarding such measures is contained in the Tables attached to this release. See Tables 8a, 8b and 9 for definitions of these non-GAAP financial measures and Tables 1a, 5, 6a, 6b, 7, 8a and 8b for reconciliations of the historical non-GAAP financial measures to their most comparable GAAP terms.
Reconciliations of the Company's estimates of 2025 Operating EBITDA, Operating EBITDA for the second quarter of 2025 and full-year Free Cash Flow excluding one-time items, which are each non-GAAP financial measures, to estimated net income (loss) attributable to Anywhere are not provided because of the difficulty in forecasting and quantifying the items that would be necessary for such reconciliations. The Company also believes that providing estimates of the amounts that would be required to provide such reconciliations would imply a degree of precision that would be confusing or misleading to investors. These items are uncertain, depend on various factors and may have a material impact on GAAP results.
NAR data is subject to periodic review and revision, which has been, and could in the future be, material. Additionally, NAR uses survey data and estimates, which can have sampling errors and will not directly correlate with Anywhere Advisor's results due to its geographic concentration.
| Investor Contacts: | Media Contacts: |
| Alicia Swift | Gabriella Chiera |
| (973) 407-4669 | (973) 407-5236 |
| Alicia.Swift@anywhere.re | Gabriella.Chiera@anywhere.re |
| | |
| John Carr | Kyle Kirkpatrick |
| (973) 407-2612 | (973) 407-2935 |
| John.Carr@anywhere.re | Kyle.Kirkpatrick@anywhere.re |
| Table 1 | |||
| | |||
| ANYWHERE REAL ESTATE INC. | |||
| | |||
| | Three Months Ended | ||
| | 2025 | | 2024 |
| Revenues | | | |
| Gross commission income | $ 976 | | $ 907 |
| Service revenue | 125 | | 119 |
| Franchise fees | 73 | | 70 |
| Other | 30 | | 30 |
| Net revenues | 1,204 | | 1,126 |
| Expenses | | | |
| Commission and other agent-related costs | 785 | | 726 |
| Operating | 277 | | 273 |
| Marketing | 44 | | 45 |
| General and administrative | 103 | | 99 |
| Former parent legacy (benefit) cost, net | (3) | | 1 |
| Restructuring costs, net | 12 | | 11 |
| Impairments | 6 | | 6 |
| Depreciation and amortization | 46 | | 55 |
| Interest expense, net | 36 | | 39 |
| Other income, net | (1) | | (1) |
| Total expenses | 1,305 | | 1,254 |
| Loss before income taxes, equity in losses and noncontrolling interests | (101) | | (128) |
| Income tax benefit | (24) | | (28) |
| Equity in losses of unconsolidated entities | 1 | | 1 |
| Net loss | (78) | | (101) |
| Less: Net income attributable to noncontrolling interests | — | | — |
| Net loss attributable to Anywhere | $ (78) | | $ (101) |
| | | | |
| Loss per share attributable to Anywhere shareholders: | |||
| Basic loss per share | $ (0.70) | | $ (0.91) |
| Diluted loss per share | $ (0.70) | | $ (0.91) |
| Weighted average common and common equivalent shares of Anywhere outstanding: | |||
| Basic | 111.4 | | 110.7 |
| Diluted | 111.4 | | 110.7 |
| Table 1a | |||
| | |||
| ANYWHERE REAL ESTATE INC. | |||
| | |||
| Set forth in the table below is a reconciliation of Net loss attributable to Anywhere to Adjusted net loss as defined in Table 9 for | |||
| | Three Months Ended March 31, | ||
| | 2025 | | 2024 (a) |
| Net loss attributable to Anywhere | $ (78) | | $ (101) |
| Addback: | | | |
| Stock-based compensation (b) | 5 | | 4 |
| Restructuring costs, net (c) | 12 | | 11 |
| Impairments | 6 | | 6 |
| Former parent legacy (benefit) cost, net | (3) | | 1 |
| Legal contingencies (d) | — | | — |
| Gain on the sale of businesses, investments or other assets, net | (1) | | — |
| Adjustments for tax effect (e) | (5) | | (6) |
| Adjusted net loss attributable to Anywhere | $ (64) | | $ (85) |
| _______________ | |
| (a) | 2024 amounts have been updated to reflect our definition of Adjusted net income (loss) (see Table 9 for definition). |
| (b) | Stock-based compensation is a non-cash expense that is based on grant date fair value, which is influenced by the Company's stock price, |
| (c) | Restructuring costs include personnel-related, facility-related and other costs related to professional fees and consulting fees. |
| (d) | Legal contingencies do not include cases that are part of our normal operating activities or legal expenses incurred in the ordinary course |
| (e) | Reflects tax effect of adjustments at the Company's blended state and federal statutory rate. |
| Table 2 | |||
| | |||
| ANYWHERE REAL ESTATE INC. | |||
| | |||
| | March 31, | | December 31, |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $ 110 | | $ 118 |
| Restricted cash | 5 | | 6 |
| Trade receivables (net of allowance for doubtful accounts of $17 for both periods presented) | 109 | | 101 |
| Relocation receivables | 165 | | 150 |
| Other current assets | 200 | | 206 |
| Total current assets | 589 | | 581 |
| Property and equipment, net | 237 | | 247 |
| Operating lease assets, net | 323 | | 331 |
| Goodwill | 2,499 | | 2,499 |
| Trademarks | 584 | | 584 |
| Franchise agreements, net | 804 | | 821 |
| Other intangibles, net | 101 | | 106 |
| Other non-current assets | 451 | | 467 |
| Total assets | $ 5,588 | | $ 5,636 |
| LIABILITIES AND EQUITY | | | |
| Current liabilities: | | | |
| Accounts payable | $ 98 | | $ 101 |
| Securitization obligations | 135 | | 140 |
| Current portion of long-term debt | 610 | | 490 |
| Current portion of operating lease liabilities | 100 | | 105 |
| Accrued expenses and other current liabilities | 506 | | 553 |
| Total current liabilities | 1,449 | | 1,389 |
| Long-term debt | 2,033 | | 2,031 |
| Long-term operating lease liabilities | 278 | | 284 |
| Deferred income taxes | 183 | | 207 |
| Other non-current liabilities | 149 | | 155 |
| Total liabilities | 4,092 | | 4,066 |
| Commitments and contingencies | | | |
| Equity: | | | |
| Anywhere preferred stock: $0.01 par value; 50,000,000 shares authorized, none issued and | — | | — |
| Anywhere common stock: $0.01 par value; 400,000,000 shares authorized, 111,805,042 shares | 1 | | 1 |
| Additional paid-in capital | 4,830 | | 4,827 |
| Accumulated deficit | (3,297) | | (3,219) |
| Accumulated other comprehensive loss | (41) | | (42) |
| Total stockholders' equity | 1,493 | | 1,567 |
| Noncontrolling interests | 3 | | 3 |
| Total equity | 1,496 | | 1,570 |
| Total liabilities and equity | $ 5,588 | | $ 5,636 |
| Table 3 | |||
| | |||
| ANYWHERE REAL ESTATE INC. | |||
| | |||
| | Three Months Ended March 31, | ||
| | 2025 | | 2024 |
| Operating Activities | | | |
| Net loss | $ (78) | | $ (101) |
| Adjustments to reconcile net loss to net cash used in operating activities: | | | |
| Depreciation and amortization | 46 | | 55 |
| Deferred income taxes | (24) | | (28) |
| Impairments | 6 | | 6 |
| Amortization of deferred financing costs and debt premium | 2 | | 2 |
| Gain on the sale of businesses, investments or other assets, net | (1) | | — |
| Equity in losses of unconsolidated entities | 1 | | 1 |
| Stock-based compensation | 5 | | 4 |
| Other adjustments to net loss | — | | (1) |
| Net change in assets and liabilities, excluding the impact of acquisitions and dispositions: | |||
| Trade receivables | (8) | | (5) |
| Relocation receivables | (15) | | (9) |
| Other assets | 1 | | 18 |
| Accounts payable, accrued expenses and other liabilities | (44) | | (60) |
| Dividends received from unconsolidated entities | 8 | | — |
| Other, net | (4) | | (4) |
| Net cash used in operating activities | (105) | | (122) |
| Investing Activities | | | |
| Property and equipment additions | (20) | | (18) |
| Proceeds from the sale of investments in unconsolidated entities | 2 | | — |
| Other, net | 5 | | 2 |
| Net cash used in investing activities | (13) | | (16) |
| Financing Activities | | | |
| Net change in Revolving Credit Facility | 120 | | 153 |
| Amortization payments on term loan facilities | — | | (5) |
| Net change in securitization obligations | (5) | | (5) |
| Taxes paid related to net share settlement for stock-based compensation | (2) | | (3) |
| Other, net | (4) | | (6) |
| Net cash provided by financing activities | 109 | | 134 |
| Effect of changes in exchange rates on cash, cash equivalents and restricted cash | — | | — |
| Net decrease in cash, cash equivalents and restricted cash | (9) | | (4) |
| Cash, cash equivalents and restricted cash, beginning of period | 124 | | 119 |
| Cash, cash equivalents and restricted cash, end of period | $ 115 | | $ 115 |
| | | | |
| Supplemental Disclosure of Cash Flow Information | | | |
| Interest payments (including securitization interest of $2 for both periods presented) | $ 29 | | $ 31 |
| Income tax refunds, net | (18) | | (1) |
| Table 4a | |||||
| | |||||
| ANYWHERE REAL ESTATE INC. | |||||
| | |||||
| | Three Months Ended March 31, | ||||
| | 2025 | | 2024 | | % Change |
| Anywhere Brands - Franchise Group (a) | | | | | |
| Closed homesale sides | 137,089 | | 144,775 | | (5) % |
| Average homesale price | $ 516,999 | | $ 470,119 | | 10 % |
| Average homesale broker commission rate | 2.41 % | | 2.43 % | | (2) bps |
| Net royalty per side | $ 453 | | $ 417 | | 9 % |
| Anywhere Advisors - Owned Brokerage Group | | | | | |
| Closed homesale sides | 49,461 | | 50,513 | | (2) % |
| Average homesale price | $ 799,750 | | $ 709,506 | | 13 % |
| Average homesale broker commission rate | 2.35 % | | 2.41 % | | (6) bps |
| Gross commission income per side | $ 19,720 | | $ 17,946 | | 10 % |
| Anywhere Integrated Services - Title Group | | | | | |
| Purchase title and closing units | 21,349 | | 21,325 | | — % |
| Refinance title and closing units | 2,504 | | 2,025 | | 24 % |
| Average fee per closing unit | $ 3,476 | | $ 3,208 | | 8 % |
| | |||||
| _______________ | |
| (a) | Includes all franchisees except for Owned Brokerage Group. |
| Table 4b | |||||||||
| | |||||||||
| ANYWHERE REAL ESTATE INC. | |||||||||
| | |||||||||
| | Quarter Ended | Year Ended | |||||||
| | March 31, | | June 30, | | September 30, | | December 31, | | December 31, |
| Anywhere Brands - Franchise Group (a) | | | | | | | | | |
| Closed homesale sides | 144,775 | | 194,372 | | 189,833 | | 171,609 | | 700,589 |
| Average homesale price | $ 470,119 | | $ 506,676 | | $ 502,512 | | $ 504,637 | | $ 497,494 |
| Average homesale broker commission rate | 2.43 % | | 2.42 % | | 2.41 % | | 2.39 % | | 2.41 % |
| Net royalty per side | $ 417 | | $ 462 | | $ 456 | | $ 446 | | $ 447 |
| Anywhere Advisors - Owned Brokerage Group | | | | | | | | | |
| Closed homesale sides | 50,513 | | 71,895 | | 67,625 | | 59,388 | | 249,421 |
| Average homesale price | $ 709,506 | | $ 775,453 | | $ 741,623 | | $ 757,275 | | $ 748,596 |
| Average homesale broker commission rate | 2.41 % | | 2.36 % | | 2.36 % | | 2.35 % | | 2.37 % |
| Gross commission income per side | $ 17,946 | | $ 19,141 | | $ 18,376 | | $ 18,577 | | $ 18,557 |
| Anywhere Integrated Services - Title Group | | | | | | | | | |
| Purchase title and closing units | 21,325 | | 29,816 | | 27,631 | | 24,840 | | 103,612 |
| Refinance title and closing units | 2,025 | | 2,394 | | 2,661 | | 3,145 | | 10,225 |
| Average fee per closing unit | $ 3,208 | | $ 3,323 | | $ 3,361 | | $ 3,428 | | $ 3,341 |
| | |||||||||
| _______________ | |
| (a) | Includes all franchisees except for Owned Brokerage Group. |
| Table 5 | |||
| | |||
| ANYWHERE REAL ESTATE INC. | |||
| | |||
| Set forth in the table below is a reconciliation of Net loss attributable to Anywhere to Operating EBITDA as defined in Table 9 for | |||
| | |||
| | Three Months Ended March 31, | ||
| | 2025 | | 2024 |
| Net loss attributable to Anywhere | $ (78) | | $ (101) |
| Income tax benefit | (24) | | (28) |
| Loss before income taxes | (102) | | (129) |
| Add: Depreciation and amortization | 46 | | 55 |
| Interest expense, net | 36 | | 39 |
| Stock-based compensation (a) | 5 | | 4 |
| Restructuring costs, net (b) | 12 | | 11 |
| Impairments (c) | 6 | | 6 |
| Former parent legacy (benefit) cost, net (d) | (3) | | 1 |
| Legal contingencies (e) | — | | — |
| Gain on the sale of businesses, investments or other assets, net | (1) | | — |
| Operating EBITDA | $ (1) | | $ (13) |
| _______________ | |
| (a) | Stock-based compensation is a non-cash expense that is based on grant date fair value, which is influenced by the Company's stock price, |
| (b) | Restructuring costs include personnel-related, facility-related and other costs related to professional fees and consulting fees. |
| | Restructuring charges incurred for the three months ended March 31, 2025 include $7 million at Owned Brokerage Group and $5 million in |
| (c) | Non-cash impairments primarily related to leases and other assets. |
| (d) | Former parent legacy items are recorded in Corporate and Other and relate to legacy tax matters. |
| (e) | Legal contingencies do not include cases that are part of our normal operating activities or legal expenses incurred in the ordinary course of |
| The following table reflects Revenue, Operating EBITDA and Operating EBITDA margin, both as defined in Table 9, for each of the | |||||||||||||||||||||
| | |||||||||||||||||||||
| | Revenues (b) | | $ | | % Change | | Operating | | $ | | % | | Operating | | Change | ||||||
| | 2025 | | 2024 | | | | 2025 | | 2024 (c) | | | | 2025 | | 2024 (c) | | |||||
| Franchise Group | $ 204 | | $ 200 | | $ 4 | | 2 % | | $ 97 | | $ 90 | | $ 7 | | 8 % | | 48 % | | 45 % | | 3 |
| Owned Brokerage Group | 990 | | 919 | | 71 | | 8 | | (47) | | (59) | | 12 | | 20 | | (5) | | (6) | | 1 |
| Title Group | 78 | | 71 | | 7 | | 10 | | (18) | | (15) | | (3) | | (20) | | (23) | | (21) | | (2) |
| Corporate and Other (a) | (68) | | (64) | | (4) | | (b) | | (33) | | (29) | | (4) | | (14) | | | | | | |
| Total Company | $ 1,204 | | $ 1,126 | | $ 78 | | 7 % | | $ (1) | | $ (13) | | $ 12 | | 92 % | | — % | | (1) % | | 1 |
| _______________ | |
| (a) | Corporate and Other includes the Company's intersegment revenues which are eliminated and various unallocated corporate expenses. |
| (b) | Revenues include the elimination of transactions between segments, which consists of intercompany royalties and marketing fees paid by |
| (c) | 2024 amounts have been updated to reflect our definition of Operating EBITDA (see Table 9 for definition). |
| Table 6a | |
| | |
| ANYWHERE REAL ESTATE INC. | |
| | |
| | Three Months Ended |
| | March 31, 2025 |
| Net revenues (a) | |
| Franchise Group | $ 204 |
| Owned Brokerage Group | 990 |
| Title Group | 78 |
| Corporate and Other (b) | (68) |
| Total Company | $ 1,204 |
| | |
| Operating EBITDA | |
| Franchise Group | $ 97 |
| Owned Brokerage Group | (47) |
| Title Group | (18) |
| Corporate and Other (b) | (33) |
| Total Company | $ (1) |
| | |
| Non-GAAP Reconciliation - Operating EBITDA | |
| Total Company Operating EBITDA | $ (1) |
| | |
| Less: Depreciation and amortization | 46 |
| Interest expense, net | 36 |
| Income tax benefit | (24) |
| Stock-based compensation (c) | 5 |
| Restructuring costs, net (d) | 12 |
| Impairments (e) | 6 |
| Former parent legacy benefit, net (f) | (3) |
| Gain on the sale of businesses, investments or other assets, net | (1) |
| Net loss attributable to Anywhere | $ (78) |
| _______________ | |
| (a) | Transactions between segments are eliminated in consolidation. Revenues for Franchise Group include intercompany royalties |
| (b) | Corporate and Other includes the Company's intersegment revenues which are eliminated and various unallocated corporate expenses. |
| (c) | Stock-based compensation is a non-cash expense that is based on grant date fair value, which is influenced by the Company's stock price, |
| (d) | Includes restructuring charges broken down by business unit as follows: |
| | Three Months Ended |
| | March 31, 2025 |
| Owned Brokerage Group | $ 7 |
| Corporate and Other | 5 |
| Total Company | $ 12 |
| | |
| (e) | Non-cash impairments primarily related to leases and other assets. |
| (f) | Former parent legacy items are recorded in Corporate and Other and relate to legacy tax matters. |
| Table 6b | |||||||||
| | |||||||||
| ANYWHERE REAL ESTATE INC. | |||||||||
| | |||||||||
| | Three Months Ended | | Year Ended | ||||||
| | March 31, | | June 30, | | September 30, | | December 31, | | December 31, |
| | 2024 | | 2024 | | 2024 | | 2024 | | 2024 |
| Net revenues (a) | | | | | | | | | |
| Franchise Group | $ 200 | | $ 265 | | $ 267 | | $ 229 | | $ 961 |
| Owned Brokerage Group | 919 | | 1,393 | | 1,258 | | 1,118 | | 4,688 |
| Title Group | 71 | | 103 | | 96 | | 92 | | 362 |
| Corporate and Other (b) | (64) | | (92) | | (86) | | (77) | | (319) |
| Total Company | $ 1,126 | | $ 1,669 | | $ 1,535 | | $ 1,362 | | $ 5,692 |
| | | | | | | | | | |
| Operating EBITDA | | | | | | | | | |
| Franchise Group | $ 90 | | $ 159 | | $ 151 | | $ 121 | | $ 521 |
| Owned Brokerage Group | (59) | | 4 | | (11) | | (27) | | (93) |
| Title Group | (15) | | 9 | | 2 | | (9) | | (13) |
| Corporate and Other (b) | (29) | | (29) | | (34) | | (33) | | (125) |
| Total Company | $ (13) | | $ 143 | | $ 108 | | $ 52 | | $ 290 |
| | | | | | | | | | |
| Non-GAAP Reconciliation - Operating EBITDA | | | | | | | | | |
| Total Company Operating EBITDA | $ (13) | | $ 143 | | $ 108 | | $ 52 | | $ 290 |
| | | | | | | | | | |
| Less: Depreciation and amortization | 55 | | 48 | | 48 | | 47 | | 198 |
| Interest expense, net | 39 | | 40 | | 38 | | 36 | | 153 |
| Income tax (benefit) expense | (28) | | 11 | | 2 | | 13 | | (2) |
| Stock-based compensation (c) | 4 | | 4 | | 4 | | 5 | | 17 |
| Restructuring costs, net (d) | 11 | | 7 | | 6 | | 8 | | 32 |
| Impairments (e) | 6 | | 2 | | 1 | | 11 | | 20 |
| Former parent legacy cost (benefit), net (f) | 1 | | 1 | | (1) | | 1 | | 2 |
| Legal contingencies (g) | — | | — | | 10 | | (8) | | 2 |
| Gain on the early extinguishment of debt (h) | — | | — | | (7) | | — | | (7) |
| Loss on the sale of businesses, investments or other | — | | — | | — | | 3 | | 3 |
| Net (loss) income attributable to Anywhere | $ (101) | | $ 30 | | $ 7 | | $ (64) | | $ (128) |
| _______________ | |
| (a) | Transactions between segments are eliminated in consolidation. Revenues for Franchise Group include intercompany royalties and |
| (b) | Corporate and Other includes the Company's intersegment revenues which are eliminated and various unallocated corporate expenses. |
| (c) | Stock-based compensation is a non-cash expense that is based on grant date fair value, which is influenced by the Company's stock price, |
| (d) | Includes restructuring charges broken down by business unit as follows: |
| | Three Months Ended | | Year Ended | ||||||
| | March 31, | | June 30, | | September 30, | | December 31, | | December 31, |
| | 2024 | | 2024 | | 2024 | | 2024 | | 2024 |
| Franchise Group | $ 1 | | $ 2 Für dich aus unserer Redaktion zusammengestelltHinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Weitere Artikel des AutorsThemen im Trend | ||||||
