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ompass has upgraded its earnings forecast for Q4 and full-year 2024, citing strong growth in revenue and adjusted EBITDA. The company now expects to exceed previous projections, with revenue ranging from $1.36 billion to $1.39 billion in the fourth quarter and $5.61 billion to $5.64 billion for the year. Adjusted EBITDA is expected to be between $124 million and $127 million for 2024, up from a previous forecast of $109 million to $119 million.

    Compass also reported significant gains in agent count, with over 650 principal agents joining the brokerage in Q4 through organic recruitment efforts. This represents a 50% improvement over the same quarter last year and marks a notable increase from the 545 agents added in Q3 2024. The company's technology platform is cited as a key factor attracting new agents.

    The revised forecasts come after Compass closed its acquisition of @properties Christie's International Real Estate, which was announced in early December for $444 million. Despite remaining below peak levels achieved around its IPO in 2021, the company's stock jumped 21% following the news and is now up 3% year-over-year.

    Compass' Founder and CEO Robert Reffkin attributed the revisions to the company's ability to outperform the market at a time when transactions are near 29-year lows. The company remains on track to achieve its goal of ending 2024 with positive cash flow, a target first announced after reporting negative cash flow for 2023.