Real estate technology company eXp World (NASDAQ: EXPI) will be reporting earnings this Thursday after market close. Here’s what to expect.
eXp World missed analysts’ revenue expectations by 4% last quarter, reporting revenues of $954.9 million, up 1.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates. It reported 81,904 agents and brokers, down 4.5% year on year.
Is eXp World a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting eXp World’s revenue to be flat year on year at $1.30 billion, slowing from the 5.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. eXp World has missed Wall Street’s revenue estimates three times over the last two years.
Looking at eXp World’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. CBRE delivered year-on-year revenue growth of 16.2%, beating analysts’ expectations by 4.3%, and RE/MAX reported a revenue decline of 7.3%, falling short of estimates by 1.2%.
Read our full analysis of CBRE’s results here and RE/MAX’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 7.5% on average over the last month. eXp World is up 24% during the same time and is heading into earnings with an average analyst price target of $12 (compared to the current share price of $11.28).
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