Q3 Earnings Outperformers: CBRE (NYSE:CBRE) And The Rest Of The Real Estate Services Stocks

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the real estate services stocks, including CBRE (NYSE:CBRE) and its peers.

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The 14 real estate services stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 1.6% while next quarter’s revenue guidance was 7.8% below.

Luckily, real estate services stocks have performed well with share prices up 14.3% on average since the latest earnings results.

CBRE (NYSE:CBRE)

CBRE reported revenues of $9.04 billion, up 14.8% year on year. This print exceeded analysts’ expectations by 2.7%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ adjusted operating income.

“Our performance in the third quarter was highlighted by our second-highest third quarter core earnings per share in company history, driven by double-digit revenue and profit growth and significant operating leverage in all three business segments. In addition, we achieved operational gains across key parts of our business and continued to advance our strategic positioning,” said Bob Sulentic, chair and chief executive officer of CBRE.

Interestingly, the stock is up 14.3% since reporting and currently trades at $140.71.

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Best Q3: The Real Brokerage (NASDAQ:REAX)

The Real Brokerage reported revenues of $372.5 million, up 73.5% year on year, outperforming analysts’ expectations by 7.4%. The business had an incredible quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The Real Brokerage scored the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.7% since reporting. It currently trades at $5.49.

Slowest Q3: Anywhere Real Estate (NYSE:HOUS)

Anywhere Real Estate reported revenues of $1.54 billion, down 3.1% year on year, falling short of analysts’ expectations by 5.7%. It was a disappointing quarter as it posted a miss of analysts’ transacted dollars estimates.

Anywhere Real Estate delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 26.2% since the results and currently trades at $5.05.

Marcus & Millichap (NYSE:MMI)

Marcus & Millichap reported revenues of $168.5 million, up 4% year on year. This print topped analysts’ expectations by 4.7%. It was a stunning quarter as it also put up an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ EPS estimates.

The stock is up 2% since reporting and currently trades at $40.99.

eXp World (NASDAQ:EXPI)

eXp World reported revenues of $1.23 billion, up 1.5% year on year. This number lagged analysts' expectations by 3.4%. Overall, it was a softer quarter as it also recorded a significant miss of analysts’ adjusted operating income and EPS estimates.

The stock is flat since reporting and currently trades at $14.35.

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This content was originally published on Stock Story