Douglas Elliman restates Q1 2023 results; net loss widens to $0.23 per share

Douglas Elliman Inc.

Real estate agent commission expense increased by $3.2M, raising operating loss to $23.8M.
Net loss attributed to Douglas Elliman increased by $2.5M to $17.6M ($0.23 per diluted share).
Adjusted EBITDA loss widened to $17.6M from previously reported $14.4M.
Revenue unchanged at $214.0M, down from $308.9M in Q1 2022.
Quarterly Report on Form 10-Q to be filed shortly with adjustments.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Douglas Elliman Inc. reported three months ended March 31, 2023 results: revenue $214.0 million, net income $17.6 million, EPS $0.23 per diluted common share.

Period: three months ended March 31, 2023
Revenue: $214.0 million
Net income: $17.6 million
EPS: $0.23 per diluted common share
Result: reported results

Exact text from the filing

First quarter 2023 revenues were $214.0 million, compared to revenues of $308.9 million for the first quarter of 2022. The Company recorded an operating loss of $23.8 million for the first quarter of 2023, compared to operating income of $7.9 million for the first quarter of 2022. Net loss attributed to Douglas Elliman for the first quarter of 2023 was $17.6 million, or $0.23 per diluted common share, compared to net income of $6.5 million, or $0.08 per diluted common share, for the first quarter of 2022.

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Source: SEC EDGAR

accession 0001878897-23-000015

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