RLGY - Realogy targets 2026 revenue of $11.5B reaffirms 2022 operating EBITDA guidance

Realogy Holdings (NYSE:RLGY) stock is gaining 5.1% in Thursday morning trading after the real estate brokerage and services company introduced 2026 financial targets for revenue of $11.5B and operating EBITDA of $1.2B. So far, there's only one analyst estimate for 2026 revenue, at $9.47B. Other targets include 2022-2026 cumulative free cash flow of ~$2.0B, 2026 free cash flow exceeding $600M, and 2026 market share of 20% or greater. By way of comparison, Realogy (RLGY), which owns the Better Homes and Gardens Real Estate and Century 21 brands, generated $8B of revenue in 2021, operating EBITDA of $902M, and free cash flow of $553M. Market share stood at 16.4%, up 100 basis points from 2020. Management also reaffirmed 2022 operating EBITDA guidance at $750M-$800M. In April, Realogy (RLGY) trimmed its 2022 operating EBITDA guidance from $800M-$850M due to the rising interest rate environment.

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Realogy targets 2026 revenue of $11.5B, reaffirms 2022 operating EBITDA guidance