RDFN Earnings Prediction
The chart below shows how RDFN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RDFN sees a +9.54% change in stock price 10 days leading up to the earnings, and a +14.99% change 10 days following the report. On the earnings day itself, the stock moves by -1.35%. This data can give you a slight idea of what to expect for the next quarter's release.
RDFN Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
278.01M
3.37%
-5.82%
Gross Margin
36.64%
0.22%
-1.29%
Operating Margin
-8.47%
-10.75%
-9.41%
Net Margin
-12.15%
72.34%
28.71%
EPS
-0.28
-64.71%
21.74%
No Data Available
RDFN Earnings Analysis
Redfin Corporation Common Stock Corporation (RDFN.O) Earnings Conference Call
Positive
Quarterly Revenue Increase: Redfin's third-quarter revenues grew three percent year-over-year to $278 million, marking the company's third straight quarter of organic revenue growth.
Gross Profit Increase: Gross profit of $102 million was up 4% year-over-year, and total gross margin remained unchanged at 37%.
Rental Segment Growth: The rental segment posted its eighth straight quarter of growth, with revenue of $52 million and growth of 9%.
Mortgage Segment Performance: The mortgage segment generated $36 million in revenue, up 8% year-over-year, with gross margin increasing from 10% to 15.2%.
Net Income and EBITDA Growth: Total net income was $7 million compared to $2 million in the prior year, and adjusted EBITDA was $7 million compared to $3 million in the prior year.
Negative
EBITDA Performance and Expenses: Our adjusted EBITDA profits of $4 million were at the bottom of our guidance range, in part due to $4 million of one-time expenses that we didn't anticipate in our guidance.
Home Sales Brokered Share Decline: From the second quarter of 2024 to the third, the share of home sales brokered by our own agents and through referrals to our partner agents fell by 1 basis point; year-over-year, third-quarter share fell by 2 basis points.
Adjusted EBITDA Loss Forecast: 2024 adjusted EBITDA loss between $15 million and $22 million. This full-year loss is larger than we expected.
Sales Forecast Shortfall: August and September mortgage and brokerages sales were $7 million lower than we forecast.
Increased Net Loss: Our net loss was $34 million, compared to a net loss of $19 million in the prior year. This was slightly worse than our loss guidance range of $30 million to $22 million, primarily due to $3 million in restructuring expenses that were not contemplated at the time of guidance.
RDFN FAQs
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RDFN Earning Call Sentiment
Redfin Corporation (RDFN) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
RDFN.O
-8.83%Positive
The earnings call reveals mixed signals. While revenue growth is positive, net losses and unexpected expenses are concerning. The Q&A highlights optimism about Redfin Next and agent recruitment, yet market share loss and economic uncertainties pose risks. Guidance for breakeven EBITDA and no share repurchase program add to the neutral sentiment. Overall, the mixed financial performance and cautious market outlook suggest a neutral stock price movement in the short term.
