RE/MAX Holdings Inc (NYSE:RMAX)
$ 12.55 -0.22 (-1.72%) Market Cap: 236.66 Mil Enterprise Value: 652.33 Mil PE Ratio: 0 PB Ratio: 0.57 GF Score: 77/100
Back to the Transcripts List

Q2 2024 Re/Max Holdings Inc Earnings Call Transcript

Aug 09, 2024 / 12:30PM GMT
Release Date Price: $9.48 (+9.47%)

Key Points

Positve
  • Stronger-than-expected financial performance in Q2 2024.
  • Successful conversions of several real estate brokerages and teams, adding significant agent count.
  • Effective cost management efforts, resulting in a 13.3% decrease in selling, operating, and administrative expenses.
  • Positive reception and potential of the newly launched MAX/Tech Lead Concierge program.
  • International agent count rebounded in Q2, with notable growth in India, Central, and South America.
Negative
  • Revenue excluding marketing funds decreased by 4.8% compared to the same period last year.
  • US agent count has not yet stabilized, with ongoing challenges in the macroeconomic environment.
  • Negative organic growth driven by reduced US agent count and adverse foreign currency movements.
  • Ongoing industry-wide and macroeconomic forces continue to impact growth initiatives.
  • Litigation settlement is currently being appealed, adding uncertainty to future financial planning.
Operator

Good morning, and welcome to the RE/MAX Holdings second-quarter 2024 earnings conference call and webcast. My name is Sarah, and I will be facilitating the audio portion of today's call.

At this time, I would like to turn the call over to, Andy Schulz, Senior Vice President of Investor Relations. Mr. Schulz?

Andy Schulz;Max Holdings Inc;Senior Vice President;Investor Relations
Re

/--

Thank you, operator, and good morning, everyone. And welcome to RE/MAX Holdings second-quarter 2024 earnings conference call. Please visit the Investor Relations section of www.remaxholdings.com for all earnings-related materials including our standard earnings presentation and to access the live webcast and the replay of the call today.

Our prepared remarks and answers to your questions on today's call may contain forward-looking statements. Forward-looking statements include those related to agent count, franchise sales and open offices,

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.