Real estate technology company eXp World (NASDAQ:EXPI) will be announcing earnings results tomorrow after market close. Here’s what investors should know.
eXp World met analysts’ revenue expectations last quarter, reporting revenues of $1.30 billion, up 5.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ operating margin estimates but a miss of analysts’ earnings estimates. It reported 87,111 agents and brokers, down 1.3% year on year.
Is eXp World a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting eXp World’s revenue to grow 5% year on year to $1.27 billion, a reversal from the 2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. eXp World has missed Wall Street’s revenue estimates four times over the last two years.
Looking at eXp World’s peers in the real estate services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Compass delivered year-on-year revenue growth of 11.7%, meeting analysts’ expectations, and CBRE reported revenues up 14.8%, topping estimates by 2.7%. Compass traded up 14.3% following the results while CBRE was also up 7.7%.
Read our full analysis of Compass’s results here and CBRE’s results here.
There has been positive sentiment among investors in the real estate services segment, with share prices up 3.3% on average over the last month. eXp World is up 8.9% during the same time and is heading into earnings with an average analyst price target of $14.75 (compared to the current share price of $14.63).
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