Real estate broker eXp posts Q2 revenue in line with expectations
Overview
eXp World Holdings Q2 revenue rises 1% to $1.3 bln, almost in line with analyst expectations, per LSEG data
Adjusted EBITDA of $11.2 mln missed analyst estimates, per LSEG data
Company reported a net loss of $2.3 mln
Result Drivers
AGENT-FIRST MODEL - eXp attributes resilience to its agent-first model and commitment to innovation
INTERNATIONAL GROWTH - Rapid growth in international business with robust agent productivity and expanding global reach, according to the company
STRATEGIC INVESTMENTS - Increased operating expenses driven by strategic investments to streamline operations and severance costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $1.30 bln | $1.30 bln (2 Analysts) |
Q2 Net Income | -$2.30 mln | ||
Q2 Adjusted EBITDA | Miss | $11.20 mln | $25.90 mln (2 Analysts) |
Q2 Dividend | $0.05 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "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 eXp World Holdings Inc is $12.00, about 9.7% above its July 30 closing price of $10.84
The stock recently traded at 155 times the next 12-month earnings vs. a P/E of 48 three months ago
Press Release:
