Marcus & Millichap Q2 revenue $158.4M, net loss narrows to $5.5M; sequential improvement

Marcus & Millichap, Inc.

2024-Q2 EPS reported -$0.40 revenue$287,471,000

Total revenue $158.4M, down 2.8% YoY; brokerage commissions $135.4M (-3.5%).
Net loss $5.5M ($0.14 diluted) vs loss $8.7M ($0.23) a year ago; Adjusted EBITDA $1.4M vs -$1.1M.
Private Client Market brokerage fell 11.9% to $84.8M; Middle Market & Larger Transaction rose 14.8% to $45.3M.
Board declared semi-annual dividend $0.25/share, payable Oct 4 to holders of record Sep 16.
Company repurchased 16,900 shares in H1 2024; $71M remaining under buyback program.

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