Realogy Holdings Q2 Profit Rises, But Misses View - Quick Facts

(RTTNews) - Realogy Holdings Corp. (RLGY) reported second-quarter net income attributable to company of $97 million or $0.66 per share, up from $68 million or $0.46 per share in the year-ago period.

Adjusted earnings for the quarter were $0.66 per share, compared to $0.58 per share last year. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.69 for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased to $1.65 billion from $1.51 billion last year, driven by higher homesale transaction volume. Analysts expected revenue of $1.65 billion for the quarter.

Richard Smith, Realogy's chairman, chief executive officer and president said, "The fundamentals of the housing market continue to gain strength, and our results reflect these improving conditions along with the impact of our strategic growth initiatives."

Looking ahead to the third quarter, Realogy expects homesale transaction volume gains in the range of 7 percent to 10 percent year-over-year on a company-wide basis. The company also expects homesale transaction sides to be up 5 percent to 7 percent year-over-year and average homesale price to increase 2 percent to 3 percent for RFG and NRT combined.

For fiscal 2015, Reaology forecasts adjusted EBITDA between $810 million to $840 million and adjusted EBITDA margins between 14.1 percent to 14.3 percent.