RE/MAX Holdings corrects Q4 and FY2022 results, reducing tax expense by $1.3M

RE/MAX Holdings, Inc.

Overstated income tax expense by $1.3M due to foreign tax credit carryforwards; net income (loss) and EPS adjusted accordingly.
Q4 2022 net loss attributable to RE/MAX now $1.3M ($0.07 loss per share) vs. previously $2.6M loss ($0.14 loss per share).
Full-year 2022 net income attributable to RE/MAX now $6.1M ($0.32 diluted EPS) vs. previously $4.8M ($0.26 diluted EPS).
No impact on revenue, Adjusted EBITDA, Adjusted EPS, cash, or operating cash flow.
Deferred tax assets increased by $1.3M to $51.4M as of Dec 31, 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RE/MAX Holdings, Inc. reported the quarter ended December 31, 2022 results: revenue $81.3 million, net income $1.3 million, EPS $0.07.

Period: the quarter ended December 31, 2022
Revenue: $81.3 million
Net income: $1.3 million
EPS: $0.07
Result: reported results

Exact text from the filing

press release and posted the updated release to its investor relations website: Updated RE/MAX HOLDINGS, INC. REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS Total Revenue of $81.3 Million, Adjusted EBITDA of $26.5 Million, Share Buyback Accelerated DENVER, February 16, 2023 Fourth Quarter 2022 Highlights (Compared to fourth quarter 2021 unless otherwise noted) •

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RE/MAX Holdings, Inc. reported the year ended December 31, 2022 results: revenue $353.4 million, net income $6.1 million, EPS $0.32.

Period: the year ended December 31, 2022
Revenue: $353.4 million
Net income: $6.1 million
EPS: $0.32
Result: reported results

Exact text from the filing

open Motto Mortgage franchises increased 23.5% to 231 offices 4 Full-Year 2022 Highlights (Compared to full-year 2021 unless otherwise noted) • Total Revenue incre ased 7.2% to $353.4 million • Revenue excluding the Marketing Funds 1 increased 6.4% to $263.1 million, driven by 7.8% growth attributable to acquisitions, partially offset by negative 0.8% organic growth

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RE/MAX Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-026716

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