RE/MAX Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 03, 2022 at 04:32 pm EDT
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RE/MAX Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 88.94 million compared to USD 91 million a year ago. Net income was USD 0.14 million compared to net loss of USD 25.15 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 1.34 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 1.34 a year ago.
For the nine months, revenue was USD 272.12 million compared to USD 240.54 million a year ago. Net income was USD 7.42 million compared to net loss of USD 18.73 million a year ago. Basic earnings per share from continuing operations was USD 0.39 compared to basic loss per share from continuing operations of USD 1 a year ago. Diluted earnings per share from continuing operations was USD 0.39 compared to diluted loss per share from continuing operations of USD 1 a year ago.
RE/MAX Holdings, Inc. is a franchisor in the real estate industry. The Company is engaged in franchising real estate brokerages globally under the RE/MAX brand, and mortgage brokerages within the United States under the Motto Mortgage (Motto) brand. The Company operates through three segments: Real Estate, Mortgage and Marketing Funds. The Real Estate segment comprises the operations of the Companyâs owned and independent global franchising operations under the RE/MAX brand, along with corporate-wide shared services expenses. The Mortgage segment comprises the operations of the Companyâs mortgage brokerage franchising operations under the Motto brand and mortgage loan processing services under the wemlo brand. The Marketing Funds segment comprises the operations of the Companyâs marketing campaigns designed to build and maintain brand awareness and the development and operation of agent marketing technology. The Company operates in more than 110 countries and territories.