Core Insights - Sotheby's International Realty achieved a global sales volume of US$157 billion in 2024, reflecting a 9.4% year-over-year increase, significantly outperforming the National Association of Realtors' overall market growth of 5.2% [1][2] - The brand's strategic global expansion included the opening of 37 new offices, bringing its total to over 1,100 offices in 84 countries and territories, with more than 26,100 independent sales associates [2][3] - Record sales were noted in key markets, including a US$25 million sale in Washington, D.C., and a US$65.5 million villa sale in Dubai, marking the highest prices ever recorded in those locations [4] Strategic Expansion - Sotheby's International Realty expanded its domestic presence to 46 states, with significant growth in California and Michigan, and facilitated mergers and acquisitions in North Carolina, South Carolina, and New York [3] - Internationally, the brand entered significant markets such as Anguilla and Poland, while strengthening its presence in Portugal, New Zealand, Australia, and London [3][4] Market Positioning - The brand's referral volume reached US$4.6 billion, showcasing its extensive network's ability to connect luxury buyers and sellers globally [5] - Sotheby's International Realty is recognized for its commitment to innovation and marketing excellence, which drives its performance in the luxury real estate market [6][7] Digital Engagement - In 2024, the brand's website attracted over 33 million visitors, and its video content was viewed more than 65 million times, with social media engagement 165% higher than the competitor average [8] - The launch of the "1 of 1" advertising campaign emphasizes the uniqueness of each property and positions agents as curators of exceptional homes, targeting a new generation of affluent buyers [9][10]

Core Viewpoint - Anywhere Real Estate (HOUS) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system is based on changes in a company's earnings picture, with the Zacks Consensus Estimate reflecting EPS estimates from sell-side analysts [1][2]. - A strong correlation exists between earnings estimate revisions and near-term stock price movements, making the Zacks rating system valuable for investors [4][6]. - The recent upgrade for Anywhere Real Estate suggests an improvement in the company's underlying business, which could lead to higher stock prices as investors respond positively [5][10]. Earnings Estimate Revisions - For the fiscal year ending December 2025, Anywhere Real Estate is expected to earn $0.05 per share, representing a 107.1% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Anywhere Real Estate has increased by 233.3%, indicating a significant upward revision in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Anywhere Real Estate to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10].

Company Expansion - Sotheby's International Realty has expanded its network by incorporating Realty Center of Chattanooga, which will now operate as Horizon Sotheby's International Realty, marking the brand's growth in Tennessee with a total of six offices in the state [1][4] Regional Focus - Horizon Sotheby's International Realty will serve communities from Athens, Tennessee, to Dalton, Georgia, including areas across the Blue Ridge Mountains such as Monteagle Mountain, Ocoee, and Tellico [2] Leadership and Expertise - The firm is owned by Byron Kelly and Vanessa Mercer, who collectively bring 35 years of real estate experience, emphasizing their commitment to providing premier service to clients [2][3] Market Positioning - Chattanooga is highlighted as a desirable location for families seeking distinctive homes, with luxury properties that blend authenticity and tradition, according to Philip White, president and CEO of Sotheby's International Realty [3] Growth and Development - Horizon Sotheby's International Realty currently has 92 real estate agents and plans for continued growth, aiming to deliver top-tier professionalism in property sales across Southeast Tennessee and Northwest Georgia [3] Global Network - The Sotheby's International Realty network includes over 26,100 affiliated independent sales associates in more than 1,100 offices across 83 countries and territories, providing extensive marketing and referral opportunities [4][5] Historical Context - Sotheby's International Realty was founded in 1976 as a real estate service for clients of Sotheby's auction house, and has since developed a franchise system that supports independent offices [5][6]

Financial Data and Key Metrics Changes - The company generated $290 million of operating EBITDA in 2024, an increase of $35 million from the prior year, and delivered $50 million of free cash flow, $70 million excluding a $20 million litigation settlement payment [14][34] - Q4 revenue was $1.4 billion, up 9% year-over-year, and operating EBITDA was $52 million, an increase of 86% year-over-year [34] - Full year revenue was $5.7 billion, up 1% year-over-year, and operating EBITDA was $290 million, an increase of 14% year-over-year [34][35] Business Line Data and Key Metrics Changes - The Anywhere Brands business generated $521 million in operating EBITDA, down $6 million primarily due to foreign currency impacts [40] - Anywhere Advisors had an operating EBITDA of negative $93 million, an improvement of $42 million year-over-year, driven by higher revenue and lower operating costs [41] - Anywhere Integrated Services reported an operating EBITDA of negative $13 million, an improvement of $3 million year-over-year [43] Market Data and Key Metrics Changes - Closed transaction volume grew by 13% year-over-year, with luxury volume up nearly 10% for the year and approximately 20% in Q4 [14][19] - The company sold over 1,000 homes priced at $10 million or more in 2024, indicating strong performance in the luxury market [20] - January 2025 saw a 12% closed volume growth year-over-year, driven by price gains, while open volume was positive at 4% [25] Company Strategy and Development Direction - The company is focused on new technologies and automation to unlock cost-saving opportunities, targeting another $100 million in savings for 2025 [15] - The Reimagine '25 initiative aims to transform operations and leverage generative AI and other technologies to enhance customer experiences and reduce costs [24][39] - The company is exploring M&A opportunities to augment growth, emphasizing a disciplined approach to profitability [29] Management's Comments on Operating Environment and Future Outlook - Management noted that the housing market remains challenged, particularly due to a lack of supply and pressure on unit transactions [25] - The company expects operating EBITDA for 2025 to be about $350 million, with the housing market being the biggest swing factor [46] - Management expressed confidence in the company's ability to deliver results regardless of market conditions, highlighting industry-leading profitability and solid cash flow generation [49] Other Important Information - The company updated its definition of operating EBITDA to include adjustments for noncash stock-based compensation and certain legal matters, enhancing comparability with industry peers [5] - The company is actively monitoring the impact of California wildfires on its operations and employees, with about 1,000 agents affected [44][45] Q&A Session Summary Question: What are the underlying assumptions for the $350 million operating EBITDA outlook for 2025? - Management indicated that the housing market is the biggest swing factor and will provide updates quarterly as conditions evolve [54][56] Question: What is the company's position on the Clear Cooperation Policy? - Management advocates for a relaxed version of the policy to provide more flexibility for sellers while maintaining transparency and access to inventory [26][61] Question: Can you discuss the franchise pipeline heading into 2025? - Management noted a strong pipeline with interest from both established independent brokerages and new players, highlighting the value proposition offered to franchisees [70][75] Question: How does the tax refund timing impact free cash flow? - The tax refund will benefit free cash flow but does not impact EBITDA, with the refund expected in the first half of 2025 [78] Question: How does the adjustment for noncash compensation impact the 2025 guidance? - The adjustments have a relatively small impact on past years, with no significant headwind or tailwind expected in the $60 million growth for 2025 [122][123]

Earnings Call Q4 and FY 2024 1 Management Presenters Charlotte Simonelli Executive Vice President and Chief Financial Officer Alicia Swift Senior Vice President, Investor Relations and Treasury 2 Ryan Schneider Chief Executive Officer and President Important Disclosures Forward-Looking Statements This presentation contains forward-looking statements. The Company desires to take advantage of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 and is including this statement for ...

Financial Performance - Generated Revenue of $1.4 billion in Q4 2024, an increase of $112 million (9%) year-over-year[3] - Reported Net Loss of $64 million in Q4 2024, an improvement of $43 million compared to Q4 2023[3] - Operating EBITDA of $52 million in Q4 2024, up $24 million (86%) year-over-year[3] - Full Year 2024 Revenue reached $5.7 billion, an increase of $56 million (1%) year-over-year[4] - Full Year 2024 Operating EBITDA was $290 million, a $35 million (14%) increase year-over-year[4] - Gross commission income for Q4 2024 was $1,104 million, up from $1,011 million in Q4 2023, representing an increase of 9.2%[27] - Net revenues for the full year 2024 reached $5,692 million, compared to $5,636 million in 2023, reflecting a growth of 1%[27] - Total revenue for the company in Q4 2024 was $1.362 billion, a 9% increase from $1.250 billion in Q4 2023[47] - Operating EBITDA for Q4 2024 was $52 million, up 86% from $28 million in Q4 2023[47] - For the full year 2024, the company reported a net loss of $128 million, compared to a loss of $97 million in 2023[50] - Total revenue for the year ended December 31, 2024, was $5.692 billion, a slight increase of 1% from $5.636 billion in 2023[54] Cost Management - The company realized cost savings of approximately $125 million in 2024, exceeding the initial target by 25%[4] - The company plans to achieve further cost savings of approximately $100 million in 2025, offset by inflationary pressures and investments[8] - Restructuring costs for the year ended December 31, 2024, totaled $32 million, down from $49 million in 2023[50] - The company incurred non-cash impairments of $20 million in 2024, significantly lower than the $65 million in impairments recorded in 2023[50] - The company incurred restructuring costs of $32 million for the year ended December 31, 2024[73] Debt and Liabilities - Total corporate debt was $2.4 billion as of December 31, 2024, with a Senior Secured Leverage Ratio of 1.22x[12] - For the year ended December 31, 2024, Anywhere reported a total senior secured net debt of $411 million and a senior secured leverage ratio of 1.22x[72] - The net debt leverage ratio as of December 31, 2024 was 7.2x, with net corporate debt (excluding securitizations) amounting to $2.437 billion[79] - Total current liabilities increased to $1,389 million in 2024 from $1,207 million in 2023, an increase of 15.1%[35] Market Conditions - The company anticipates continued challenges in the residential real estate market due to high mortgage rates and inflation, which may impact future performance[20] - Combined closed transaction volume increased 13% year-over-year in Q4 2024, with units up about 3% and price up 9%[3] - Closed homesale sides for the year totaled 700,589, a decrease from 720,853 in 2023, reflecting a decline of 2.8%[39] - Average homesale price increased to $497,494 in 2024 from $462,277 in 2023, an increase of 7.6%[39] Shareholder Information - Basic loss per share for Q4 2024 was $0.58, improved from $0.97 in Q4 2023[27] - The company reported a total of 111.3 million weighted average common shares outstanding for both Q4 2024 and Q4 2023[27] - The weighted average diluted shares outstanding for the year was 110.3 million[69] Cash Flow and Investments - Net cash provided by operating activities decreased to $104 million in 2024 from $187 million in 2023, a decline of 44.4%[37] - Net cash provided by operating activities for Q4 2024 was $67 million, up from $62 million in Q4 2023[71] - Free Cash Flow for Q4 2024 was $33 million, a significant improvement from a negative $13 million in Q4 2023[71] - Capital expenditures for the year ended December 31, 2024 totaled $78 million, compared to $72 million in 2023[71] - Net cash used in financing activities was $21 million in 2024, a significant improvement compared to $227 million in 2023[37] - The company reported a net increase in cash, cash equivalents, and restricted cash of $5 million in 2024, compared to a decrease of $99 million in 2023[37] Strategic Initiatives - The company is focusing on recruiting and retaining productive independent sales agents as part of its business strategy[20] - The company plans to integrate artificial intelligence into its products and services to enhance operational efficiency[20]

MADISON, N.J., Feb. 13, 2025 /PRNewswire/ -- Anywhere Real Estate Inc. (NYSE: HOUS) ("Anywhere" or the "Company"), a global leader in residential real estate services, today reported financial results for the fourth quarter and full year ended December 31, 2024. "Anywhere showed up as a leader in 2024, delivering industry-leading Operating EBITDA and seizing opportunities to invest in our strategy and accelerate growth while proactively navigating change," said Ryan Schneider, Anywhere president and CEO. "W ...

NEW YORK, Feb. 11, 2025 /PRNewswire/ -- Major League Soccer (MLS) and Century 21 Real Estate LLC, a subsidiary of Anywhere Real Estate Inc. (NYSE: HOUS), today announced a new multiyear partnership.*Media assets can be found here* The new partnership between Major League Soccer and CENTURY 21 not only celebrates the growth of soccer in the region but also creates powerful opportunities for both brands to engage with fans and communities across the country. As the league kicks off its 30th season and t ...

The brand recognizes and celebrates the top affiliated award winners across multiple categories in the past year MADISON, N.J., Feb. 6, 2025 /PRNewswire/ -- Coldwell Banker Commercial®, an Anywhere® (NYSE: HOUS) brand, today announced its annual year-end ranking across the Coldwell Banker Commercial network. These top performers will be recognized at the 2025 Coldwell Banker Commercial Global Conference on March 18 in Plano, Texas. "I am thrilled to congratulate our top-performing professionals for their ou ...

MADISON, N.J., Jan. 30, 2025 /PRNewswire/ -- Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in residential real estate services, will release its financial results for the full year ended December 31, 2024, on Thursday, February 13, 2025. The company will host a conference call and webcast to discuss its results and provide a business update that morning at 8:30 a.m. ET.To access the live webcast of the conference call or to view a replay, visit the company's investor relations website at https://i ...