AgentBrokerage

Re/Max agent fleet soars to highest numbers in a decade

Global franchisor raises outlook for Q4 and FY 2015 as housing market continues to improve
  • Total agent count at the end of the quarter was 103,491 agents, a 6-percent increase over the agent count it reported in the same quarter last year.
  • Thanks to higher operating income and lower foreign currency transaction losses, net income increased 8.1 percent year-over-year to $15.2 million.
  • Adjusted net income increased 7.9 percent year-over-year to $13.9 million. Adjusted basic and diluted earnings per share (EPS) were both 46 cents, compared to the 44 cents and 43 cents, respectively, seen in Q3 2014.

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Fueled by its best agent growth in a decade and continuing strengthening of the housing market, Re/Max Holdings Inc. announced strong revenue and operating income results for the third quarter and raised its full-year outlook for both agent count and adjusted EBITDA (earnings before interest, taxes, deductions and amortization). The global franchisor of real estate brokerage services in the United States, Canada and 95 other countries said in its Q3 earnings call today that total agent count at the end of the quarter was 103,491 agents, a 6-percent increase over the agent count it reported in the same quarter last year. Thanks to higher operating income and lower foreign currency transaction losses, net income increased 8.1 percent year-over-year to $15.2 million. Adjusted net income increased 7.9 percent year-over-year to $13.9 million. Adjusted basic and diluted earnings per share (EPS) were both 46 cents, compared to the 44 cents and 43 cents, respectively, seen in Q3 2014. A...