HOUS - Anywhere Real Estate Inc. (HOUS) Q1 2024 Earnings Call Transcript
2024-04-25 14:12:06 ET
Anywhere Real Estate, Inc. (HOUS)
Q1 2024 Earnings Conference Call
April 25, 2024 8:30 AM ET
Company Participants
Alicia Swift - Senior Vice President
Ryan Schneider - President and Chief Executive Officer
Charlotte Simonelli - Chief Financial Officer
Conference Call Participants
Matthew Bouley - Barclays
Anthony Paolone - JP Morgan
Soham Bhonsle - BTIG
Tommy McJoynt - KBW
Ryan McKeveny - Zelman & Associates
Jonathan Bass - Stephens Inc
Presentation
Operator
Good morning, and welcome to the Anywhere Real Estate First Quarter 2024 Earnings Conference Call Via Webcast. Today’s call is being recorded and a written transcript will be made available in the Investor Information section of the company’s website tomorrow. A webcast replay will also be available on the company’s website.
At this time, I would like to turn the conference over to Anywhere’s Senior Vice President, Alicia Swift. Please go ahead, Alicia.
Alicia Swift
Thank you, Gaven. Good morning and welcome to the first quarter 2024 earnings conference call for Anywhere Real Estate. On the call with me today are Anywhere’s CEO and President, Ryan Schneider; and Chief Financial Officer, Charlotte Simonelli.
As shown on Slide 3 of the presentation, the company will be making statements about its future results and other forward-looking statements during this call. These statements are based on current expectations and the current economic environment. Forward-looking statements, estimates and projections are inherently subject to significant, economic, competitive, antitrust and other litigation, regulatory and other uncertainties and contingencies, many of which are beyond the control of management, including among others, industry and macroeconomic developments.
Actual results may differ materially from those expressed or implied in the forward-looking statements. The references made to April month to-date in these remarks reflects data through April 21 st 2024. Our discussion on an open volume basis reflects like-for-like number of business dates. The timing of the referenced litigation payments can be impacted by developments in the proceedings. The reference to core franchise in these remarks is the franchise segment excluding relocation and leads.
Finally, Charlotte’s pro forma 2024 illustration financial range is not a financial forecast or guidance for 2024. It is provided purely to illustrate Anywhere’s financial octane, its home sale market for 2024 was $5 million to $5.5 million, compared to the $4.1 million existing home sale market in 2023 as reported by the National Association of Realtors.
The illustration includes higher mortgage joint venture earnings, higher variable expenses related to a higher existing home sales environment including increasing commission splits and royalty rates, but makes no adjustment in performance of our underwriter joint venture, refinance volumes or relocation business. ...
Anywhere Real Estate, Inc. (HOUS) Q1 2024 Earnings Call Transcript