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Stock Monitor: Optibase Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 11, 2018 / Active-Investors.com has just released a free earnings report on Realogy Holdings Corp. (NYSE: RLGY) ("RLGY'"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RLGY. On February 27, 2018, RLGY reported financial results for the fourth quarter and full year ended December 31, 2017. The Company surpassed analysts' estimates for earnings but missed revenue forecasts for Q4 FY17. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Realogy Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
RLGY's total revenues reached $1.44 billion for Q4 FY17, up 5.4% from $1.37 billion in Q4 FY16. This was behind analysts' consensus forecasts of $1.48 billion. Gross commission income advanced 8.29% to $1.07 billion y-o-y, service revenue declined 5% to $228 million y-o-y, and franchise fees increased 8.70% to $100 million y-o-y in Q4 FY17.
RLGY's incurred total expenses of $1.4 billion in Q4 FY17, 8.64% higher than $1.28 billion in Q4 FY16. The Company had commission and other agent-related costs of $768 million in the reported quarter, up 11.47% from $689 million in the previous year's corresponding quarter. RLGY's operating earnings before interest, tax, depreciation, and amortization (EBITDA) declined 4.64% to $144 million y-o-y in the quarter under review.
Net income attributable to RLGY was $255 million for Q4 FY17, an increase of 347.37% from $57 million in Q4 FY16. The Company's basic earnings per share surged 377.50% to $1.91 in the quarter under review from $0.4 in the year ago same quarter. RLGY's results for the reported quarter included mark-to-market interest rate swap gains, restructuring costs, benefit from 2017 Tax Act, and a reduction in the reserve for uncertain tax positions. The Company's diluted earnings per share (DEPS), after adjusting for non-recurring items, was $0.26 in Q4 FY17, same as in Q4 FY16. This was higher than analysts' consensus estimates of $0.24 per share.
For the year ending December 31, 2017, RLGY's total revenues were $6.11 billion, up 5.23% from $5.81 billion in FY16 driven by increases in homesale transaction volume. The Company's operating EBITDA declined 4.94% to $732 million y-o-y in FY17, due to higher agent commission rates, reduced earnings in its relocation segment, and several non-recurring charges. Net income attributable to RLGY was $431 million in FY17, which is 2.02 times the net income of $213 million in FY16. The basic EPS rose 114.29% to $3.15 in the reported year from $1.47 in the previous year. RLGY's adjusted EPS, excluding special items, was $1.59, 3.05% lower than $1.64 in FY16.
Realogy Holdings' Segment Details
During Q4 2017, the RFG segment's net revenues were $199 million, up 5.85% y-o-y. The segment reported an operating EBITDA of $132 million in Q4 FY17, an increase of 8.20% from $122 million.
For Q4 FY17, the NRT segment's net revenues advanced 8.27% to $1.09 billion on a y-o-y basis. This segment had an operating EBITDA of $14 million in Q4 FY17 compared to $13 million in Q4 FY16, reflecting an increase of 7.69%.
During Q4 FY17, the Cartus segment's net revenues declined 5.15% to $92 million on a y-o-y basis. This segment's operating EBITDA was $20 million for the quarter under review, a decrease of 9.09% from $22 million in the previous year's corresponding quarter.
The TRG segment generated net revenues of $139 million in Q4 FY17, a y-o-y decline of 6.71%. This segment had an operating EBITDA of $10 million in the reported quarter, 23.08% lower than $13 million in the year ago same quarter.
RLGY had cash and cash equivalents of $227 million as on December 31, 2017, 17.15% lower than $274 million as on December 31, 2016.
RLGY's net cash flow from operating activities was $667 million in FY17, 13.82% higher than the $586 million reported in FY16. The Company had a free cash flow of $559 million at the end of FY17 compared to $456 million at the end of FY16.
RLGY's long-term debt reduced 1.35% to $3.22 billion at the end of Q4 FY17 from $3.27 billion at the end of Q4 FY16. The Company increased its revolving credit facility by $350 million to a $1.4 billion and extended its maturity by three years to February 2023. The Company also combined its existing two tranches of term loan A and term loan A-1 into a new single tranche of $750 million.
In FY17, RLGY returned $325 million to shareholders through share repurchases and dividends. Besides, the Company's Board also approved a new share repurchase authorization of $350 million. On February 26, 2018, RLGY's Board of Directors declared a quarterly cash dividend of $0.09 per share, which was paid on March 26, 2018, to shareholders of record as of the close of business on March 12, 2018.
Stock Performance Snapshot
April 10, 2018 - At Tuesday's closing bell, Realogy's stock rose 1.32%, ending the trading session at $27.61.
Volume traded for the day: 890.13 thousand shares.
Stock performance in the last month – up 5.50%; previous three-month period – up 3.41%; and year-to-date – up 4.19%
After yesterday's close, Realogy's market cap was at $3.64 billion.
Price to Earnings (P/E) ratio was at 13.58.
The stock has a dividend yield of 1.30%.
The stock is part of the Financial sector, categorized under the Property Management industry. This sector was up 1.3% at the end of the session.
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