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nywhere Real Estate Inc. (NYSE: HOUS) released its third‑quarter 2025 results and confirmed the status of its all‑stock merger with Compass, slated to close in the second half of 2026 once shareholder and regulatory approvals are obtained.
**Executive Commentary**
Ryan Schneider, President and CEO, said the merger will create a premier platform that empowers agents, franchisees and employees to innovate and excel across the real‑estate experience.
Charlotte Simonelli, CFO, highlighted the company’s Q3 momentum, noting that it is on track to deliver $100 million in cost savings for 2025 and remains committed to enhancing its strategic vision while improving customer experience and reducing costs.
**Key Highlights – Q3 2025**
- Revenue: $1.626 billion, up 6 % YoY (+$91 million).
- Net loss attributable to Anywhere: $13 million, a $20 million improvement from the prior year.
- Adjusted net income: $0 (down $16 million from Q3 2024).
- Operating EBITDA: $100 million (after $24 million mark‑to‑market stock‑unit expense).
- Closed transaction volume: +7 % YoY; units +2 %, price +5 %.
- Luxury brands (Coldwell Banker Global Luxury, Corcoran, Sotheby’s International Realty) outperformed the market with a 12 % YoY increase in closed volume.
- Open volume rose 9 % YoY; closed volume increased 9 % and open volume 6 % through October 27.
- New franchise additions: 13 U.S. and 1 international high‑margin franchise.
- Cost savings: $28 million in Q3, on track for $100 million in 2025; additional temporary controls yielded $6 million.
- Free cash flow: $92 million (vs. $99 million in Q3 2024).
**Financial Summary (Unaudited)**
| Metric | Q3 2025 | Q3 2024 | % Change |
|--------|---------|---------|----------|
| Revenue | $1,626 M | $1,535 M | +6 % |
| Operating EBITDA | $100 M | $108 M | –8 % |
| Net loss | $13 M | $7 M | –20 % |
| Adjusted net income | $0 | $16 M | –100 % |
| EPS (loss) | –$0.12 | $0.06 | –300 % |
| Free cash flow | $92 M | $99 M | –7 % |
| Cash & equivalents | $139 M | $118 M | +18 % |
| Net debt (incl. short‑term) | $2.5 B | – | – |
**Segment Performance**
- **Franchise Group**: Revenue $273 M, EBITDA $155 M, margin 57 %.
- **Owned Brokerage Group**: Revenue $1,340 M, EBITDA –$11 M, margin –1 %.
- **Title Group**: Revenue $103 M, EBITDA $1 M, margin –3 %.
- **Corporate & Other**: Revenue –$90 M, EBITDA –$43 M, margin –26 %.
**Guidance**
The merger with Compass has led Anywhere to suspend its forward guidance and will no longer publish updates against prior targets.
**Balance Sheet Highlights**
- Net debt: $2.5 B (including short‑term).
- Senior secured leverage ratio: 0.85× (covenant limit 4.75×).
- Net debt leverage ratio: 6.7×.
- Revolving credit facility: $425 M; senior secured notes: $1,140 M; unsecured notes: $1,008 M; exchangeable notes: $36 M.
**Investor Conference Call**
On November 4 at 8:00 a.m. ET, Ryan Schneider and Charlotte Simonelli will host a webcast to discuss Q3 results and business updates. The call is available live and on replay at https://ir.anywhere.re/, or via the Event Registration Page for dial‑in details.
**About Anywhere Real Estate Inc.**
Anywhere Real Estate Inc. (NYSE: HOUS) is a global leader in residential real‑estate services, offering franchise, brokerage, relocation, title, settlement, mortgage and title‑insurance solutions under well‑known brands such as Better Homes and Gardens®, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA®, and Sotheby’s International Realty®. The company serves over 300,000 agents and franchise owners worldwide, driving innovation and integrity in the industry.
**Forward‑Looking Statements**
This release contains forward‑looking statements regarding the merger, cost‑saving initiatives, financial performance, and regulatory approvals. These statements are subject to risks and uncertainties that could cause actual results to differ materially.
**Non‑GAAP Measures**
Operating EBITDA, adjusted net income, and free cash flow are non‑GAAP metrics used to assess operating performance. Definitions and reconciliations are provided in the company’s filings.
