Realogy’s first-quarter loss larger than expected

But much of the red ink came from one-time charges

New York /
May.May 05, 2014 10:05 AM

Realogy Holdings — the public real estate conglomerate whose brands include the Corcoran Group, Citi Habitats and Sotheby’s International Realty – saw a $46 million loss in the first quarter that was larger than analysts expected.

The company reported $1 billion in net revenue, up 5 percent year-over-year. Analysts expected a loss of $0.21 per share, when it turned out to be $0.32 per share. Included in the loss is $70 million in interest expenses and $46 million in depreciation expenses.

Realogy does not foresee the slowdown in revenue easing up anytime soon.

“This trend, which is expected to continue for much of 2014, along with a pause in the rate of growth in the housing recovery we are seeing this year, could make for challenging near-term comparisons, although current industry forecasts for 2015 are more favorable,” Realogy CEO Richard Smith said in a statement cited by HousingWire. [HousingWire]Mark Maurer


Related Articles

arrow_forward_ios
Redfin CEO Glenn Kelman, Compass CEO Robert Reffkin and eXp CEO Jason Gesing. (Getty, Redfin, eXp)
Compass, eXp rise in Real Trends’ annual brokerage rankings
Compass, eXp rise in Real Trends’ annual brokerage rankings
Realogy CEO Ryan Schneider
Realogy’s revenue hits $6.2B after housing rebound
Realogy’s revenue hits $6.2B after housing rebound
Compass CEO Robert Reffkin and Realogy CEO Ryan Schneider (Reffkin via Getty Images;/Illustration by Kevin Rebong for The Real Deal)
Compass accuses Realogy of lying, cheating and stealing
Compass accuses Realogy of lying, cheating and stealing
Realogy CEO Ryan Schneider (iStock)
Realogy’s iBuying program expands after pausing in spring
Realogy’s iBuying program expands after pausing in spring
The Corcoran Group founder Barbara Corcoran (Getty)
Extortion, 9/11 and a toy gun: The story behind Barbara Corcoran’s brokerage sale
Extortion, 9/11 and a toy gun: The story behind Barbara Corcoran’s brokerage sale
Realogy CEO Ryan Schneider 
Realogy profit surges to $98M as sales rebound
Realogy profit surges to $98M as sales rebound
Thomas Oberdorf, CEO of Sirva, and Ryan Schneider, CEO & President of Realogy (Credit: Jhila Farzaneh)
Realogy settled part of its $400M Cartus lawsuit. Now what?
Realogy settled part of its $400M Cartus lawsuit. Now what?
Realogy CEO Ryan Schneider (iStock)
Realogy’s Q2 profits plunge after “unprecedented” drop in sales
Realogy’s Q2 profits plunge after “unprecedented” drop in sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...