Douglas Elliman Q4 swings to net profit on asset sale
Overview
U.S. residential brokerage's Q4 revenue rose marginally from prior year
Company reported net profit for the quarter, helped by gain on sale of property management unit
Q4 adjusted net loss and adjusted EBITDA loss both widened yr/yr
Outlook
Douglas Elliman did not provide specific financial guidance for future qtrs or yr
Result Drivers
PROPERTY MANAGEMENT SALE - Gain from sale of property management business drove Q4 net income improvement
EXPENSE REDUCTIONS - Co said ongoing expense reductions and operational efficiency initiatives supported profitability
LUXURY MARKET FOCUS - Expansion in key luxury markets and investments in technology and talent contributed to revenue base
Company press release: ID:nBw6M3NKra
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue |
| $245.4 mln |
|
Q4 Adjusted Net Income |
| -$14.2 mln |
|
Q4 Net Income |
| $68.6 mln |
|
Q4 Adjusted EBITDA |
| -$10.6 mln |
|
Q4 Operating Income |
| $67 mln |
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