Costs associated with its October initial public offering pushed Realogy Holdings Corp. into the red during the fourth quarter, although adjusted earnings were up 61 percent from a year ago, to $167 million.
Realogy’s IPO helped the real estate brokerage and franchising giant reduce its debt by $3.1 billion. But the company posted a $292 million fourth-quarter loss after recognizing $400 million in IPO-related costs, $18 million in debt extinguishment charges, and $42 million in depreciation and amortization.
ICNY 2020
Comments