RE/MAX: Q4 Earnings Snapshot

Associated Press Finance
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DENVER (AP) — DENVER (AP) — RE/MAX Holdings Inc. (RMAX) on Thursday reported a loss of $10.9 million in its fourth quarter.

On a per-share basis, the Denver-based company said it had a loss of 60 cents. Earnings, adjusted for one-time gains and costs, came to 30 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The franchisor of residential real estate brokerages posted revenue of $76.6 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $77.2 million.

For the year, the company reported a loss of $69 million, or $3.81 per share. Revenue was reported as $325.7 million.

For the current quarter ending in March, RE/MAX said it expects revenue in the range of $75 million to $80 million.

The company expects full-year revenue in the range of $300 million to $320 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMAX at https://www.zacks.com/ap/RMAX

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