Re/Max Holdings reports Q2 adjusted EPS 40c, consensus 40c

Reports Q2 revenue $82.4M, consensus $82.46M. “We were pleased to see continued RE/MAX agent count growth in Canada and our global regions during Q2. Despite industry headwinds, agent count in Canada has increased each month since February, and our overall international agent growth also accelerated in the second quarter,” said Steve Joyce, CEO. “In the U.S., we remain focused on our growth initiatives, and we continue to build our related pipelines. The combination of higher interest rates and tight inventory has made for a challenging housing market and agent-recruiting-and-retention environment. On a positive note, the pace of our U.S. agent count losses slowed quarter over quarter – which is encouraging, given the market conditions. On the mortgage side, wemlo is ramping up, and we continue to expand our Motto franchise sales operation. The addition of experienced personnel with in-depth franchise experience to our inside sales team is just one reason we are optimistic about increasing the pace of Motto franchise sales in the second half of 2023 and beyond”.