Anywhere Real Estate (HOUS) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10%. A quarter ago, it was expected that this real estate brokerage operator would post a loss of $0.68 per share when it actually produced a loss of $0.79, delivering a surprise of -16.18%. Over the last fou ...

Economic Environment - The company reported a significant impact from high mortgage rates, inflation, and housing affordability issues, which could lead to a decline in homesale transaction volume[7]. - The residential real estate market is experiencing cyclical challenges, with potential declines in home sales and stagnant or declining home prices affecting overall performance[8]. - The company faces risks from macroeconomic conditions, including economic instability and potential government shutdowns, which could adversely affect operations[8]. - The average mortgage rate for a 30-year fixed-rate mortgage was 6.78% as of July 25, 2024, reflecting a high interest rate environment impacting housing affordability[122]. - The residential real estate market saw a 3% decrease in existing homesale transactions for the first half of 2024 compared to the same period in 2023[118]. Financial Performance - Gross commission income for the three months ended June 30, 2024, was $1,376 million, a slight increase from $1,363 million in the same period of 2023[21]. - Net revenues for the six months ended June 30, 2024, were $2,795 million, compared to $2,802 million for the same period in 2023, reflecting a decrease of 0.25%[21]. - Total expenses for the three months ended June 30, 2024, were $1,631 million, down from $1,649 million in the prior year, indicating a reduction of approximately 1.1%[21]. - Net income attributable to Anywhere and Anywhere Group for the three months ended June 30, 2024, was $30 million, compared to $19 million in the same period of 2023, representing a growth of 57.9%[22]. - Basic earnings per share for the three months ended June 30, 2024, were $0.27, up from $0.17 in the same period of 2023, an increase of 58.8%[21]. - Net loss for the six months ended June 30, 2024, was $71 million, compared to a net loss of $119 million for the same period in 2023[25]. - Total Company revenues for the three months ended June 30, 2024, were $1,669 million, a slight decrease from $1,671 million in the same period of 2023[111]. - For the six months ended June 30, 2024, net revenues decreased by $7 million to $2,795 million compared to the same period in 2023[160]. Operational Efficiency - There is a focus on recruiting and retaining productive independent sales agents, which is critical for maintaining competitive advantage and operational success[9]. - The company is investing in artificial intelligence and machine learning technologies to enhance product offerings and improve operational efficiency[9]. - The company aims to simplify the transaction process for agents and consumers, which is essential for improving customer experience and operational efficiency[9]. - The company realized cost savings of approximately $30 million during the second quarter of 2024, contributing to a total of approximately $60 million year to date[122]. - Total expenses decreased by $18 million or 1% in Q2 2024 compared to Q2 2023, primarily due to a $25 million decrease in operating and administrative expenses[151]. Debt and Liabilities - The financial condition may be adversely impacted by substantial indebtedness, particularly during industry downturns or broader economic recessions[9]. - Current liabilities rose to $1,498 million as of June 30, 2024, compared to $1,207 million at December 31, 2023, an increase of 24.1%[23]. - Long-term debt decreased to $2,054 million as of June 30, 2024, from $2,235 million at December 31, 2023, a reduction of 8.1%[23]. - Total indebtedness as of June 30, 2024, is $2,660 million, an increase from $2,542 million as of December 31, 2023[57]. - The company has a borrowing capacity of $1,100 million under its Revolving Credit Facility, with $410 million outstanding as of June 30, 2024[58]. Legal and Regulatory Risks - The company is subject to legal and regulatory risks that could result in increased costs and operational challenges, including compliance with antitrust laws and consumer protection regulations[9]. - The Company has a pending motion to dismiss in the Batton case, which challenges NAR policies related to buyer-broker compensation[82]. - The Company believes additional antitrust litigation may arise, particularly regarding broker commission practices and MLS operations[83]. - The Anywhere Settlement includes monetary relief of $83.5 million, of which $30 million has been paid, with the remaining $53.5 million due after appellate rights are exhausted[76]. - The NAR Settlement involves a payment of $418 million and mandates practice changes affecting the entire industry, including prohibiting certain compensation offers to buyer brokers[78]. Market Presence and Growth Strategy - The company is focused on expanding its market presence and exploring potential acquisitions to drive growth and enhance service offerings[9]. - The Company operates in three business segments: Anywhere Brands, Anywhere Advisors, and Anywhere Integrated Services[30]. - The company acknowledges the potential for significant fluctuations in its common stock price, which could impact investor confidence and market perception[10]. Stock and Shareholder Information - The company has $203 million remaining available for share repurchase under the $300 million program authorized in February 2022[102]. - The company has not repurchased any shares under the share repurchase program since 2022[102]. - The weighted average common shares outstanding for diluted earnings per share calculation was 111.9 million for the three months ended June 30, 2024[109]. - The accumulated deficit as of June 30, 2024, was $3,162 million, compared to $3,113 million at June 30, 2023[98]. Impairment and Amortization - Goodwill (net) as of June 30, 2024, is $2,499 million, with accumulated impairment losses totaling $2,998 million[52]. - The company recorded impairment charges that reduced goodwill by $25 million during 2023[52]. - The company expects amortization expense for intangible assets to be approximately $45 million for the remainder of 2024[54]. - The accumulated amortization for franchise agreements was $1,156 million as of June 30, 2024[53]. Tax Matters - The Company recorded a tax accrual of $40 million related to a legacy tax matter as of June 30, 2024, following a decision by the California Office of Tax Appeals[92]. - The provision for income taxes was an expense of $11 million for Q2 2024, up from $8 million in Q2 2023, with effective tax rates of 27% and 30% respectively[150]. - The provision for income taxes was a benefit of $17 million for the six months ended June 30, 2024, compared to a benefit of $38 million for the same period in 2023[164].

Exhibit 99.1 ANYWHERE REAL ESTATE INC. REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS MADISON, N.J. (August 1, 2024) - Anywhere Real Estate Inc. (NYSE: HOUS) ("Anywhere" or the "Company"), a global leader in residential real estate services, today reported financial results for the second quarter ended June 30, 2024. "Anywhere leveraged our distinct advantages to deliver strong results in the quarter, accelerating our transformation and building our future financial octane," said Ryan Schneider, Anywhere pre ...

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MADISON, N.J., July 19, 2024 /PRNewswire/ -- Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in residential real estate services, will release its financial results for the second quarter ended June 30, 2024, on Thursday, August 1, 2024. 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. Investors may access the conference call live via webcast at anywhere.re under "Investors" or by dialing 800- 715-9871 (toll free); ...

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