Douglas Elliman Inc. Reports Third Quarter 2022 Financial Results

Third Quarter 2022 Highlights:

  • Consolidated revenues of $272.6 million compared to $354.2 million in the prior year period

    • For the three months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment achieved gross transaction value of approximately $11.0 billion, compared to approximately $13.4 billion for the three months ended September 30, 2021.
    • For the three months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment reported an average price per transaction of $1.530 million.
  • Consolidated operating loss of $5.2 million and real estate brokerage segment operating income of $1.5 million compared to $25.5 million and $25.5 million, respectively, in the prior year period
  • Net loss attributed to Douglas Elliman of $4.0 million, or $0.05 per diluted common share, compared to net income of $25.2 million, or $0.32 per diluted common share, in the prior year period
  • Adjusted EBITDA attributed to Douglas Elliman of $124,000 compared to $27.8 million in the prior year period, reflecting the impact of lower revenues and stand-alone public company expenses
  • Adjusted EBITDA attributed to Douglas Elliman’s real estate brokerage segment of $5.1 million compared to $27.8 million in the prior year period

Year-to-Date 2022 Highlights:

  • Consolidated revenues of $945.8 million, a decrease of 7.2% or $73.1 million compared to the prior year period

    • For the nine months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment achieved gross transaction value of approximately $36.3 billion, compared to approximately $38.6 billion for the nine months ended September 30, 2021.
    • For the nine months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment reported an average price per transaction of $1.635 million.
  • Consolidated operating income of $17.3 million and real estate brokerage segment operating income of $37.6 million compared to $82.9 million and $82.9 million, respectively, in the prior year period
  • Net income attributed to Douglas Elliman of $12.8 million, or $0.16 per diluted common share, compared to net income of $78.7 million, or $1.01 per diluted common share, in the prior year period
  • Adjusted EBITDA attributed to Douglas Elliman of $32.1 million compared to $89.4 million in the prior year period, reflecting the impact of lower revenues and stand-alone public company expenses
  • Adjusted EBITDA attributed to Douglas Elliman’s real estate brokerage segment of $47.2 million compared to $89.4 million in the prior year period

Last Twelve Months Ended September 30, 2022 Highlights:

  • Consolidated revenues of $1.3 billion

    • For the last twelve months ended September 30, 2022 and the year ended December 31, 2021, Douglas Elliman’s real estate brokerage segment achieved gross transaction value of approximately $48.9 billion and $51.2 billion, respectively.
    • For the last twelve months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment reported an average price per transaction of $1.604 million.
  • Consolidated operating income of $36.5 million and real estate brokerage segment operating income of $56.8 million
  • Net income attributed to Douglas Elliman of $33.0 million
  • Adjusted EBITDA attributed to Douglas Elliman of $53.4 million
  • Adjusted EBITDA attributed to Douglas Elliman’s real estate brokerage segment of $68.5 million

MIAMI–(BUSINESS WIRE)–Douglas Elliman Inc. (NYSE:DOUG) today announced financial results for the three and nine months ended September 30, 2022.

“After a record-setting first half of 2022, the third quarter was challenging for Douglas Elliman in an environment with limited listing inventory and significantly increased mortgage interest rates,” said Howard M. Lorber, Chairman and Chief Executive Officer of Douglas Elliman. “Despite these challenges, we are optimistic that Douglas Elliman’s strong balance sheet, our global network of best-in-class agents and our luxury brand positions us to take advantage of opportunities as financial markets stabilize. We are confident our differentiated platform and approach will enable us to deliver continued growth over the long term.”

GAAP Financial Results

Three months ended September 30, 2022. Third quarter 2022 revenues were $272.6 million, compared to revenues of $354.2 million in the third quarter of 2021. The Company recorded an operating loss of $5.2 million in the third quarter of 2022, compared to operating income of $25.5 million in the third quarter of 2021. Net loss attributed to Douglas Elliman for the third quarter of 2022 was $4.0 million, or $0.05 per diluted common share, compared to net income of $25.2 million, or $0.32 per diluted common share, in the third quarter of 2021.

Nine months ended September 30, 2022. For the nine months ended September 30, 2022, revenues were $945.8 million, compared to revenues of $1.0 billion for the nine months ended September 30, 2021. The Company recorded operating income of $17.3 million for the nine months ended September 30, 2022, compared to operating income of $82.9 million for the nine months ended September 30, 2021. Net income attributed to Douglas Elliman for the nine months ended September 30, 2022 was $12.8 million, or $0.16 per diluted common share, compared to net income of $78.7 million, or $1.01 per diluted common share, for the nine months ended September 30, 2021.

Non-GAAP Financial Measures

Non-GAAP financial measures include an adjustment for change in fair value of contingent liability (for purposes of Adjusted EBITDA and Adjusted Net Income) and income related to Tax Disaffiliation indemnification (for purposes of Adjusted Net Income, which is included in other, net for Adjusted EBITDA). For purposes of Adjusted EBITDA only, adjustments also include stock-based compensation, equity in earnings (losses) from equity method investments and other, net. Reconciliations of non-GAAP financial measures to the comparable GAAP financial results for the three and nine months ended September 30, 2022 and 2021 and the last twelve months ended September 30, 2022 are included in Tables 2, 3 and 4.

Three months ended September 30, 2022 compared to the three months ended September 30, 2021

Adjusted EBITDA attributed to Douglas Elliman (as described in Table 2 attached hereto) were $124,000 for the third quarter of 2022, compared to $27.8 million for the third quarter of 2021.

Adjusted EBITDA attributed to Douglas Elliman’s real estate brokerage segment (as described in Table 2 attached hereto) were $5.1 million for the third quarter of 2022, compared to $27.8 million for the third quarter of 2021.

Adjusted Net Loss attributed to Douglas Elliman (as described in Table 3 attached hereto) was $4.0 million, or $0.05 per diluted share, for the third quarter of 2022, compared to Adjusted Net Income attributed to Douglas Elliman of $24.9 million, or $0.32 per diluted share, for the third quarter of 2021.

Nine months ended September 30, 2022 compared to the nine months ended September 30, 2021

Adjusted EBITDA attributed to Douglas Elliman (as described in Table 2 attached hereto) were $32.1 million for the nine months ended September 30, 2022, compared to $89.4 million for the nine months ended September 30, 2021.

Adjusted EBITDA attributed to Douglas Elliman’s real estate brokerage segment (as described in Table 2 attached hereto) were $47.2 million for the nine months ended September 30, 2022, compared to $89.4 million for the nine months ended September 30, 2021.

Adjusted Net Income attributed to Douglas Elliman (as described in Table 3 attached hereto) was $12.2 million, or $0.15 per diluted share, for the nine months ended September 30, 2022, and $81.9 million, or $1.05 per diluted share, for the nine months ended September 30, 2021.

Last twelve months ended September 30, 2022

For the last twelve months ended September 30, 2022, revenues were $1.3 billion. The Company recorded operating income of $36.5 million for the last twelve months ended September 30, 2022. Net income attributed to Douglas Elliman for the last twelve months ended September 30, 2022 was $33.0 million.

For the last twelve months ended September 30, 2022, Adjusted EBITDA attributed to Douglas Elliman (as described in Table 2 attached hereto) were $53.4 million. Adjusted EBITDA attributed to Douglas Elliman’s real estate brokerage segment (as described in Table 2 attached hereto) were $68.5 million for the last twelve months ended September 30, 2022.

Gross Transaction Value

For the three months ended September 30, 2022, Douglas Elliman’s subsidiary, Douglas Elliman Realty, LLC, achieved gross transaction value of approximately $11.0 billion, compared to approximately $13.4 billion for the three months ended September 30, 2021. For the three months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment reported an average price per transaction of $1.530 million.

For the nine months ended September 30, 2022, Douglas Elliman’s subsidiary, Douglas Elliman Realty, LLC, achieved gross transaction value of approximately $36.3 billion compared to approximately $38.6 billion for the nine months ended September 30, 2021. For the nine months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment reported an average price per transaction of $1.635 million.

For the last twelve months ended September 30, 2022 and the year ended December 31, 2021, Douglas Elliman’s subsidiary, Douglas Elliman Realty, LLC, achieved gross transaction value of approximately $48.9 billion and $51.2 billion, respectively. For the last twelve months ended September 30, 2022, Douglas Elliman’s real estate brokerage segment reported an average price per transaction of $1.604 million.

Consolidated Balance Sheet

Douglas Elliman maintained a strong balance sheet with cash and cash equivalents of $192.7 million at September 30, 2022. This significant liquidity places the Company in a position of strength in the market.

Conference Call to Discuss Third Quarter 2022 Results

As previously announced, the Company will host a conference call and webcast on Friday November 4, 2022 at 8:00 AM (ET) to discuss its third quarter 2022 results. Participants should pre-register for the call using the following link: https://conferencingportals.com/event/WkZPJZxS. Registered participants will receive an email with a calendar reminder, dial-in number and conference ID that allows immediate access to the call. The call will be available via live webcast at https://events.q4inc.com/attendee/831566334. Webcast participants should join the webcast at least 10 minutes prior to start time.

An archived replay of the call will be available for one year shortly after the call ends at https://events.q4inc.com/attendee/831566334.

Non-GAAP Financial Measures

Adjusted EBITDA attributed to Douglas Elliman, Adjusted Net Income attributed to Douglas Elliman, and financial measures for the last twelve months (“LTM”) ended September 30, 2022 (referred to as the “Non-GAAP Financial Measures”) are financial measures not prepared in accordance with generally accepted accounting principles (“GAAP”). The Company believes that the Non-GAAP Financial Measures are important measures that supplement discussion and analysis of its results of operations and enhance an understanding of its operating performance.

The Company believes the Non-GAAP Financial Measures provide investors and analysts with a useful measure of operating results unaffected by differences in capital structures and ages of related assets among otherwise comparable companies.

Management uses the Non-GAAP Financial Measures as measures to review and assess operating performance of the Company’s business, and management does and investors should review both the overall performance (GAAP net income) and the operating performance (the Non-GAAP Financial Measures) of the Company’s business. While management considers the Non-GAAP Financial Measures to be important, they should be considered in addition to, but not as substitutes for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating income, net income and cash flows from operations. In addition, the Non-GAAP Financial Measures are susceptible to varying calculations and the Company’s measurement of the Non-GAAP Financial Measures may not be comparable to those of other companies. Attached hereto as Tables 2, 3 and 4 is information relating to the Company’s Non-GAAP Financial Measures for the three and nine months ended September 30, 2022 and 2021 and the last twelve months ended September 30, 2022.

About Douglas Elliman Inc.

Douglas Elliman Inc. (NYSE: DOUG, “Douglas Elliman”) owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Texas, Colorado, and Nevada. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology (“PropTech”) solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets. Additional information concerning Douglas Elliman is available on its website, investors.elliman.com.

Investors and others should note that we may post information about Douglas Elliman on our website at investors.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, Twitter, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at investors.elliman.com and on our social media accounts.

Forward-Looking and Cautionary Statements

This press release includes forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical or current facts made in this document are forward-looking. We identify forward-looking statements in this document by using words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may be,” “continue” “could,” “potential,” “objective,” “plan,” “seek,” “predict,” “project” and “will be” and similar words or phrases or their negatives. Forward-looking statements reflect our current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons.

Risks and uncertainties that could cause our actual results to differ significantly from our current expectations are described in our 2021 Annual Report on Form 10-K and, when filed, in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. We undertake no responsibility to publicly update or revise any forward-looking statement except as required by applicable law.

[Financial Tables Follow]

TABLE 1

DOUGLAS ELLIMAN INC. AND SUBSIDIARIES

CONDENSED COMBINED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in Thousands, Except Per Share Amounts)

For comparability purposes, Douglas Elliman Inc. (NYSE: DOUG) began operating as a standalone public company on December 30, 2021 and did not incur any material public company expenses until the first quarter of 2022. Douglas Elliman Inc. also became a full taxpayer after it became a standalone public company on December 30, 2021.

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

 

2022

 

2021

 

2022

 

2021

 

(Unaudited)

 

(Unaudited)

Revenues:

 

 

 

 

 

 

 

Commissions and other brokerage income

$

259,977

 

 

$

338,915

 

 

$

903,917

 

 

$

974,048

 

Property management

 

8,541

 

 

 

9,120

 

 

 

27,786

 

 

 

28,289

 

Other ancillary services

 

4,070

 

 

 

6,126

 

 

 

14,144

 

 

 

16,575

 

Total revenues

 

272,588

 

 

 

354,161

 

 

 

945,847

 

 

 

1,018,912

 

 

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

 

Real estate agent commissions

 

195,836

 

 

 

257,098

 

 

 

686,440

 

 

 

737,767

 

Sales and marketing

 

22,703

 

 

 

20,237

 

 

 

64,145

 

 

 

59,331

 

Operations and support

 

18,218

 

 

 

22,448

 

 

 

55,872

 

 

 

56,697

 

General and administrative

 

33,522

 

 

 

22,287

 

 

 

99,227

 

 

 

64,481

 

Technology

 

5,527

 

 

 

4,388

 

 

 

16,809

 

 

 

11,302

 

Depreciation and amortization

 

1,968

 

 

 

2,189

 

 

 

6,033

 

 

 

6,409

 

Operating (loss) income

 

(5,186

)

 

 

25,514

 

 

 

17,321

 

 

 

82,925

 

 

 

 

 

 

 

 

 

Other income (expenses):

 

 

 

 

 

 

 

Interest income (expense)

 

493

 

 

 

(7

)

 

 

564

 

 

 

65

 

Equity in losses from equity-method investments

 

(895

)

 

 

(193

)

 

 

(477

)

 

 

(118

)

Change in fair value of contingent liability

 

 

 

 

271

 

 

 

 

 

 

(3,252

)

Investment and other income

 

1,055

 

 

 

175

 

 

 

3,026

 

 

 

566

 

(Loss) income before provision for income taxes

 

(4,533

)

 

 

25,760

 

 

 

20,434

 

 

 

80,186

 

Income tax (benefit) expense

 

(290

)

 

 

667

 

 

 

8,173

 

 

 

1,656

 

 

 

 

 

 

 

 

 

Net (loss) income

 

(4,243

)

 

 

25,093

 

 

 

12,261

 

 

 

78,530

 

 

 

 

 

 

 

 

 

Net loss attributed to non-controlling interest

 

280

 

 

 

120

 

 

 

532

 

 

 

120

 

 

 

 

 

 

 

 

 

Net (loss) income attributed to Douglas Elliman Inc.

$

(3,963

)

 

$

25,213

 

 

$

12,793

 

 

$

78,650

 

 

 

 

 

 

 

 

 

Per basic common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income applicable to common shares attributed to Douglas Elliman Inc.

$

(0.05

)

 

$

0.32

 

 

$

0.16

 

 

$

1.01

 

 

 

 

 

 

 

 

 

Per diluted common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income applicable to common shares attributed to Douglas Elliman Inc.

$

(0.05

)

 

$

0.32

 

 

$

0.16

 

 

$

1.01

 

TABLE 2

DOUGLAS ELLIMAN INC. AND SUBSIDIARIES

RECONCILIATION OF ADJUSTED EBITDA

(Unaudited)

(Dollars in Thousands)

Table 2 provides a reconciliation of GAAP to Non-GAAP financial measures. For comparability purposes, Douglas Elliman Inc. (NYSE: DOUG) began operating as a standalone public company on December 30, 2021 and did not incur any material public company expenses until the first quarter of 2022. Its expenses incurred in its public company operations are reported in the Corporate and Other Segment and the operations of its brokerage businesses are reported in the Real Estate Brokerage Segment.

 

LTM

 

Year Ended

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

December 31,

 

September 30,

 

September 30,

 

2022

 

2021

 

2022

 

2021

 

2022

 

2021

 

 

 

 

 

 

 

 

Net income (loss) attributed to Douglas Elliman Inc.

$

32,981

 

 

$

98,838

 

 

$

(3,963

)

 

$

25,213

 

 

$

12,793

 

 

$

78,650

 

Interest (income) expense

 

(582

)

 

 

(83

)

 

 

(493

)

 

 

7

 

 

 

(564

)

 

 

(65

)

Income tax expense (benefit)

 

8,650

 

 

 

2,133

 

 

 

(290

)

 

 

667

 

 

 

8,173

 

 

 

1,656

 

Net loss attributed to non-controlling interest

 

(598

)

 

 

(186

)

 

 

(280

)

 

 

(120

)

 

 

(532

)

 

 

(120

)

Depreciation and amortization

 

8,185

 

 

 

8,561

 

 

 

1,968

 

 

 

2,189

 

 

 

6,033

 

 

 

6,409

 

EBITDA

$

48,636

 

 

$

109,263

 

 

$

(3,058

)

 

$

27,956

 

 

$

25,903

 

 

$

86,530

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity in losses from equity-method investments (a)

 

637

 

 

 

278

 

 

 

895

 

 

 

193

 

 

 

477

 

 

 

118

 

Change in fair value of contingent liability

 

(1,605

)

 

 

1,647

 

 

 

 

 

 

(271

)

 

 

 

 

 

3,252

 

Stock-based compensation expense (b)

 

8,476

 

 

 

 

 

 

3,165

 

 

 

 

 

 

8,476

 

 

 

 

Other, net

 

(2,989

)

 

 

(529

)

 

 

(1,055

)

 

 

(175

)

 

 

(3,026

)

 

 

(566

)

Adjusted EBITDA

 

53,155

 

 

 

110,659

 

 

 

(53

)

 

 

27,703

 

 

 

31,830

 

 

 

89,334

 

Adjusted EBITDA attributed to non-controlling interest

 

205

 

 

 

40

 

 

 

177

 

 

 

57

 

 

 

222

 

 

 

57

 

Adjusted EBITDA attributed to Douglas Elliman

$

53,360

 

 

$

110,699

 

 

$

124

 

 

$

27,760

 

 

$

32,052

 

 

$

89,391

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income by Segment:

 

 

 

 

 

 

 

 

 

 

 

Real estate brokerage

$

56,792

 

 

$

102,098

 

 

$

1,503

 

 

$

25,514

 

 

$

37,619

 

 

$

82,925

 

Corporate and other

 

(20,298

)

 

 

 

 

 

(6,689

)

 

 

 

 

 

(20,298

)

 

 

 

Total

$

36,494

 

 

$

102,098

 

 

$

(5,186

)

 

$

25,514

 

 

$

17,321

 

 

$

82,925

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate brokerage segment

 

 

 

 

 

 

 

 

 

 

 

Operating income

$

56,792

 

 

$

102,098

 

 

$

1,503

 

 

$

25,514

 

 

$

37,619

 

 

$

82,925

 

Depreciation and amortization

 

8,185

 

 

 

8,561

 

 

 

1,968

 

 

 

2,189

 

 

 

6,033

 

 

 

6,409

 

Stock-based compensation

 

3,278

 

 

 

 

 

 

1,419

 

 

 

 

 

 

3,278

 

 

 

 

Adjusted EBITDA

 

68,255

 

 

 

110,659

 

 

 

4,890

 

 

 

27,703

 

 

 

46,930

 

 

 

89,334

 

Adjusted EBITDA attributed to non-controlling interest

 

205

 

 

 

40

 

 

 

177

 

 

 

57

 

 

 

222

 

 

 

57

 

Adjusted EBITDA attributed to Douglas Elliman

$

68,460

 

 

$

110,699

 

 

$

5,067

 

 

$

27,760

 

 

$

47,152

 

 

$

89,391

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other segment

 

 

 

 

 

 

 

 

 

 

 

Operating loss

$

(20,298

)

 

$

 

 

$

(6,689

)

 

$

 

 

$

(20,298

)

 

$

 

Stock-based compensation

 

5,198

 

 

 

 

 

 

1,746

 

 

 

 

 

 

5,198

 

 

 

 

Adjusted EBITDA attributed to Douglas Elliman

$

(15,100

)

 

$

 

 

$

(4,943

)

 

$

 

 

$

(15,100

)

 

$

 

_____________

a.

 

Represents equity in earnings recognized from the Company’s investment in certain real estate businesses that are accounted for under the equity method and are not consolidated in the Company’s financial results.

b.

 

Represents amortization of stock-based compensation of $1,419 and $3,278, which is attributable to the Real estate brokerage segment for the three and nine months ended September 30, 2022, and $1,746 and $5,198, which is attributable to the Corporate and other segment for the three and nine months ended September 30, 2022.

TABLE 3

DOUGLAS ELLIMAN INC. AND SUBSIDIARIES

RECONCILIATION OF ADJUSTED NET (LOSS) INCOME

(Unaudited)

(Dollars in Thousands, Except Per Share Amounts)

Table 3 provides a reconciliation of GAAP to Non-GAAP financial measures. For comparability purposes, Douglas Elliman Inc. (NYSE: DOUG) began operating as a standalone public company on December 30, 2021 and did not incur any material public company expenses until the first quarter of 2022. Douglas Elliman Inc. also became a full taxpayer after it became a standalone public company on December 30, 2021.

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

 

2022

 

2021

 

2022

 

2021

 

 

 

 

Net (loss) income attributed to Douglas Elliman Inc.

$

(3,963

)

 

$

25,213

 

 

$

12,793

 

 

$

78,650

 

 

 

 

 

 

 

 

Change in fair value of contingent liability

 

 

 

 

(271

)

 

 

 

 

 

3,252

Income related to Tax Disaffiliation indemnification

 

(28

)

 

 

 

 

 

(581

)

 

 

Total adjustments

 

(28

)

 

 

(271

)

 

 

(581

)

 

 

3,252

 

 

 

 

 

 

 

 

Adjusted net (loss) income attributed to Douglas Elliman Inc.

$

(3,991

)

 

$

24,942

 

 

$

12,212

 

 

$

81,902

 

 

 

 

 

 

 

 

Per diluted common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted net (loss) income applicable to common shares attributed to Douglas Elliman Inc.

$

(0.05

)

 

$

0.32

 

 

$

0.15

 

 

$

1.05

TABLE 4

DOUGLAS ELLIMAN INC. AND SUBSIDIARIES

RECONCILIATION OF REVENUES

(Unaudited)

(Dollars in Thousands)

 

LTM

 

Year Ended

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

December 31,

 

September 30,

 

September 30,

 

2022

 

2021

 

2022

 

2021

 

2022

 

2021

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Commissions and other brokerage income

$

1,222,285

 

$

1,292,416

 

$

259,977

 

$

338,915

 

$

903,917

 

$

974,048

Property management

 

36,842

 

 

37,345

 

 

8,541

 

 

9,120

 

 

27,786

 

 

28,289

Other ancillary services

 

20,946

 

 

23,377

 

 

4,070

 

 

6,126

 

 

14,144

 

 

16,575

Total revenues

$

1,280,073

 

$

1,353,138

 

$

272,588

 

$

354,161

 

$

945,847

 

$

1,018,912

 

 

 

 

 

 

 

 

 

 

 

 

Gross transaction value (in billions)

$

48.9

 

$

51.2

 

$

11.0

 

$

13.4

 

$

36.3

 

$

38.6

Total transactions

 

30,520

 

 

32,400

 

 

7,212

 

 

8,535

 

 

22,213

 

 

24,093

 

Contacts

Stephen Larkin, Douglas Elliman Inc.

917-902-2503

Emily Claffey/Columbia Clancy, FGS Global

212-687-8080

Abi Genis, FGS Global Europe

+44 (0)20 3178 8914

J. Bryant Kirkland III, Douglas Elliman Inc.

305-579-8000

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  • Source: https://www.fintechnews.org/douglas-elliman-inc-reports-third-quarter-2022-financial-results/

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