Earnings to Watch: RE/MAX (RMAX) reports Q1 results tomorrow

Real estate franchise company RE/MAX (NYSE:RMAX) will report results tomorrow after the bell. Here’s what you need to know.

RE/MAX met analysts’ revenue expectations last quarter, reporting revenue of $76.6 million, down 5.7% from last year. It was a weak quarter for the company, with revenue guidance for the next quarter missing analysts’ expectations.

Is RE/MAX a buy or sell going into earnings? Read our full review here, it’s free.

This quarter, analysts expect RE/MAX’s revenue to decline 9.5% year-over-year to $77.26 million, a further deceleration from the 6.2% decline seen in the same quarter of last year. Adjusted earnings are expected to come in at $0.19 per share.

Analysts covering the company have generally reconfirmed their estimates over the past 30 days, suggesting that they anticipate the business to maintain its earnings trajectory. RE/MAX has missed Wall Street’s earnings estimates six times in the past two years.

Looking at RE/MAX peers in the consumer discretionary segment, some have already reported their Q1 results, giving us an indication of what to expect. Anywhere Real Estate posted flat year-over-year revenue, missing analysts’ expectations by 1.8 percent, and Cushman & Wakefield reported a 2.9 percent decline in revenue, in line with consensus estimates. Anywhere Real Estate fell 4.6% following the results, while Cushman & Wakefield also fell 2.7%.

Read our full analysis of Anywhere Real Estate’s results here and Cushman & Wakefield’s results here.

Growth stocks have been quite volatile since the start of 2024, and while some of the consumer discretionary stocks have fared a bit better, they haven’t been spared, with share prices down an average of 5.9% over the past month. RE/MAX is down 10.5% over the same time and is headed for earnings with an average analyst price target of $9.3 (compared to the current stock price of $7.02).

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