Realogy Holdings Corp. (RLGY) 10-Q Quarterly Report August 2017

MADISON, N.J. (August 3, 2017) - Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today reported financial results for the second quarter ended June 30, 2017, including the following highlights:


•	Revenue was $1.8 billion, an increase of 8% as compared with the second quarter in 2016, driven by increases in homesale transaction volume at the Company-owned brokerage segment (NRT) and Realogy Franchise Group (RFG).


•	The Company's combined homesale transaction volume increased 9% year-over-year, consisting of a 12% volume gain at NRT and a 7% volume gain at RFG.


•	Net income increased 18% to $109 million for the period, compared to $92 million in the same period in the prior year. Basic earnings per share was $0.79 compared with basic earnings per share of $0.63 in the second quarter of 2016.


•	Adjusted net income per share was $0.78 compared with adjusted net income per share of $0.74 in the second quarter of 2016. (See Table 1a).¹


•	Operating EBITDA was $269 million, compared with $275 million in the second quarter of 2016. (See Table 6).² The $269 million includes an $8 million reserve to settle a pending legal matter. Excluding the reserve, Operating EBITDA would have been up $2 million year-over-year.


•	Free Cash Flow for the second quarter was $229 million compared with $209 million in Q2 2016, an increase of $20 million due to favorable working capital movements. Year to date Free Cash Flow was $157 million, up from $96 million in the first half of 2016. (See Table 7).³


•	In the first half of 2017, Realogy returned $145 million of capital to shareholders through share repurchases and dividends.

“We delivered another quarter of strong results," said Richard A. Smith, Realogy’s chairman, chief executive officer and president. “Our residential real estate business outperformed our expectations during the second quarter, driven by stronger average homesale price gains and the strengthening of high end markets across the nation. We are pleased with the progress we are making on our strategic initiatives, the most important of which are designed to strengthen the recruitment and retention of sales agents at NRT. We remain focused on maintaining our business momentum and continuing to generate sustainable organic growth."

In the second quarter of 2017, RFG and NRT achieved a combined homesale transaction volume (transaction sides multiplied by average sale price) of approximately $147 billion, an increase of 9% compared with the second quarter of 2016, which exceeded the Company's guidance range based on stronger than expected average sales price at both business units. NRT reported a homesale transaction sides increase of 3% and an average homesale price increase of 9%, while RFG reported a homesale transaction sides increase of 1% and an average homesale price increase of 6%.

In the title and settlement services sector, TRG was involved in the closing of approximately 53,000 transactions in the second quarter of 2017, reflecting a 7% increase in purchase units compared with the second quarter of 2016, and a 44% decrease in refinance units, which is consistent with industry trends.

In the relocation segment, while Cartus' performance in the second quarter was slightly below last year, Cartus continues to be an important part of our value proposition, generating highly qualified leads for our network of

The following information was filed by Realogy Holdings Corp. (RLGY) on Thursday, August 3, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Realogy Holdings Corp. provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Supplemental Indenture No. 8 To The 4.500% Senior Note Indenture

Exhibit 4.2: Supplemental Indenture No. 2 To The 4.875% Senior Note Indenture

Exhibit 4.3: Supplemental Indenture No. 5 To The 5.250% Senior Note Indenture

Exhibit 15.1: Letter Regarding Unaudited Interim Financial Statements

Exhibit 31.1: Certification Of The Chief Executive Officer Of Realogy Holdings Corp.

Exhibit 31.2: Certification Of The Chief Financial Officer Of Realogy Holdings Corp.

Exhibit 31.3: Certification Of The Chief Executive Officer Of Realogy Group Llc.

Exhibit 31.4: Certification Of The Chief Financial Officer Of Realogy Group Llc.

Exhibit 32.1: Certification Of Realogy Holdings Corp.

Exhibit 32.2: Certification Of Realogy Group Llc

Ticker: RLGY
CIK: 1398987
Form Type: 10-Q Quarterly Report
Accession Number: 0001398987-17-000163
Submitted to the SEC: Thu Aug 03 2017 7:34:09 AM EST
Accepted by the SEC: Thu Aug 03 2017
Period: Friday, June 30, 2017
Industry: Real Estate Agents And Managers For Others

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Realogy Holdings Corp. (RLGY) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

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