From The Real Deal · Jake Indursky · · 1m
Compass Posts $62M Net Income
Compass reports record $62M net income in third quarter after merger integration.
In brief
Compass reports record $62M net income in third quarter after merger integration. Compass International Holdings achieved $62 million net income for its first profitable third quarter, marking the third consecutive profitable quarter following its $1.6 billion acquisition of Anywhere Real Estate. Originally reported…
Compass Reports $62M Net Income
Compass International Holdings recorded $62 million in net income for the first profitable third quarter in the company’s history and the third consecutive profitable quarter this year.
Merger Integration Progress
The brokerage parent company has weathered housing market concerns following its $1.6 billion acquisition of Anywhere Real Estate in January.
Record Revenue and Cost Synergies
Compass reported $3.9 billion in revenue, up 11.6 percent from last year, and $360 million in cost synergies from the merger.
Debt Management and Cash Flow
The company generated $240 million in free cash flow and increased cash balances to over $840 million.
What matters most
Compass International Holdings achieved $62 million net income for its first profitable third quarter, marking the third consecutive profitable quarter following its $1.6 billion acquisition of Anywhere Real Estate.
