Realogy Holdings Earnings: Here’s Why Investors are Selling Shares Now
Realogy Holdings Corp (NYSE:RLGY) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.89%.
Realogy Holdings Corp Earnings Cheat Sheet
Revenue: Decreased 0% to $957 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $0.52 per share. By that measure, the company missed the mean analyst estimate of $-0.43. It missed the average revenue estimate of $964.53 million.
Quoting Management: “Our transaction volume, which was at the top end of the range of the guidance we provided in February, and our first quarter performance continue to support our firm belief in the strength of the housing recovery,” said Richard A. Smith, Realogy’s chairman, chief executive officer and president. “The first quarter results were particularly encouraging given the seasonally lower transaction volume typically seen in the first quarter of any year.”
Key Stats (on next page)…