Compass reports Q3 EPS (1c) vs. (0c) last year

Reports Q3 revenue $1.85B, consensus $1.79B. “Compass (COMP) delivered the strongest Q3 results in our history, marked by several quarterly records including Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, T&E attach, mortgage JV profitability, and weekly agent sessions on the platform” said CEO Robert Reffkin. “A record 851 principal agents joined Compass organically in Q3, marking an all-time high. This, combined with our 97.3% quarterly principal agent retention rate, demonstrates that Compass’ value proposition remains strong. In Q3, we also continued to outperform the industry as we grew organic transactions4 by 7% and total transactions by 22%, while market transactions increased by 2% year-over-year. This means organic and total transactions outgrew the market by five and twenty percentage points, respectively. For 18 consecutive quarters, spanning our entire history as a public company, Compass has outperformed the market on an organic basis. Organic quarterly market share grew 32 basis points year-over-year and total quarterly market share grew 83 basis points year-over-year to 5.63%.”