Overview

* Anywhere Q2 revenue rises to $1.7 bln, missing analyst expectations

* Net income for Q2 improves by $3 mln year-over-year

* Co issued $500 mln in new debt, enhancing financial flexibility

Outlook

* Company expects 2025 Operating EBITDA to be about $350 mln

* Company anticipates $100 mln in cost savings for 2025

* Company projects 2025 Free Cash Flow, excluding one-time items, at $70 mln

Result Drivers

* LUXURY BRAND PERFORMANCE - Coldwell Banker Global Luxury, Corcoran, and Sotheby's International Realty brands outperformed market with 3.5% increase in closed transaction volume

* COST SAVINGS - Achieved $25 mln in cost savings in Q2, on track for $100 mln in savings for full yr

* FRANCHISE EXPANSION - Welcomed 13 new US franchisees and added three international expansions in Q2

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $1.70 $1.71

Revenue bln bln (2

Analysts

)

Q2 EPS $0.24

Q2 $36 mln

Adjusted

Net

Income

Q2 Net $27 mln

Income

Q2 $133 mln

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the real estate services peer group is "buy."

* Wall Street's median 12-month price target for Anywhere Real Estate Inc ( HOUS ) is $3.75, about 25.1% below its July 28 closing price of $4.69

* The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)