Realogy Holdings Corp. recently reported financial results for the full year ended December 31, 2016, including the following highlights:
- Revenue was $5.81 billion, an increase of 2 percent compared with the full year 2015, driven by organic and acquisition revenue increases at Title Resource Group (TRG).
- The company’s combined home-sale transaction volume increased 4 percent in the year, consisting of a 6 percent volume gain at the Realogy Franchise Group (RFG) and flat volume at the company-owned brokerage segment (NRT).
- Net income was $213 million, a 16 percent increase compared with $184 million in 2015. Basic earnings per share (EPS) was $1.47, a 17 percent increase compared with $1.26 in 2015.
- Adjusted net income was $239 million, an 8 percent increase compared with $222 million in 2015. Adjusted basic EPS was $1.65, a 9 percent increase compared with $1.52 in 2015.
- Operating EBITDA was $770 million, compared with $769 million in 2015.
- The company returned $225 million of capital to shareholders through repurchases and dividends in 2016.
“Our 2016 results continued to reflect the operating challenges of strong competition for sales agents and soft demand at the high end of the housing market for NRT,” says Richard A. Smith, Realogy’s chairman, CEO and president. “While we still have work to do, we have made good progress. Our strategic priorities are to continue strengthening our core businesses while further investing capital to drive future growth. Reflecting our strong free cash flow, we are pleased to expand on our capital return program through an additional $300 million share repurchase authorization. We are confident that over the long term we are well-positioned to capitalize on favorable demand conditions and existing home sale volume growth within the industry.”
For more information, please visit www.realogy.com.
For the latest real estate news and trends, bookmark RISMedia.com.
