Q1 revenue down 31% to $1.1B; net loss $138M; guides FY volumes down 15-20%

Anywhere Real Estate Group LLC

Q1 revenue $1,131M (-31% YoY), net loss $138M, adjusted net loss $106M; EPS loss $1.26.
Operating EBITDA loss $52M vs +$69M in Q1 2022, a $121M decline.
Cost savings of $50M realized in Q1, on track for full-year $200M target.
Guides Q2 transaction volume down ~25% and full-year volume down 15-20% YoY; FY free cash flow expected modestly positive.
Stockholders approved Second Amended 2018 LTIP and charter amendment limiting officer liability.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Anywhere Real Estate Group LLC reported first quarter ended March 31, 2023 results: revenue $1,131, net income $(138), EPS (1.26).

Period: first quarter ended March 31, 2023
Revenue: $1,131
Net income: $(138)
EPS: (1.26)
Result: reported results

Exact text from the filing

the Company’s financial highlights for the periods presented (in millions, except per share data) (unaudited): Three Months Ended March 31, 2023 2022 Change % Change Revenue $ 1,131 $ 1,635 $ (504) (31) % Operating EBITDA 1 (52) 69 (121) (175) Net (loss) income attributable to Anywhere (138) 23 (161) (700) Adjusted net loss 2 (106) (22) (84) (382) (Loss)

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Anywhere Real Estate Group LLC: Stockholders approved an amendment to limit officer liability; charter filed as Seventh Amended and Restated Certificate of Incorporation (effective 2023-05-03).

Change: charter amendment
Effective: 2023-05-03

Exact text from the filing

stockholders approved an amendment to the Company’s Restated Certificate of Incorporation (the "Charter Amendment") to limit the liability of certain officers of the Company as permitted by Delaware law. The Charter Amendment became effective upon the filing of the Company's Seventh Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware on May 3, 2023.

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Source: SEC EDGAR

accession 0001398987-23-000083

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