OPAD - Offerpad Solutions sees Q3 EBITDA loss after Q2 earnings miss

• Offerpad Solutions ( NYSE: OPAD ) stock is slipping 1.9% in Wednesday afterhours trading after the real estate platform posted downbeat guidance for the third quarter after Q2 earnings miss the Wall Street consensus.
• The company sees revenue of $600M-800, compared with the consensus of $1.21B.
• The number of homes sold for Q3 is expected to be 1.7K-2.2K.
• And it anticipates adjusted EBITDA to be -$40M to -$20M in Q3.
• Looking at Q2 results, adjusted EPS of four cents missed the average analyst estimate of five cents remained unchanged from a year ago.
• Likewise, revenue of $1.08B missed the consensus of $1.15B, but jumped from $378.65M in Q2 2021.
• Homes sold were 2,888 at the end of June, up from 1,259 at June 30, 2021.
• Q2 adjusted EBITDA increased to $13.73M from $13.1M in Q2 of last year.
• In July, Wedbush initiated Offerpad Solutions with an Outperform rating .

For further details see: