Compass Inc Stock Price, News & Analysis

Compass, a leading residential real estate brokerage listed on NYSE: COMP, announced that CEO Robert Reffkin and CFO Kalani Reelitz will present at the 25th Annual Needham Growth Conference on January 11, 2023, starting at 3:45 p.m. ET. A live webcast of their presentation will be available, alongside related materials, through their official website.

Founded in 2012, Compass is the largest residential real estate brokerage in the U.S., providing an innovative platform for agents to enhance their services and streamline operations.

Compass reported a 14% revenue decline to $1.49 billion in 3Q22, influenced by lower market volumes and a 12% drop in transactions. The company incurred $29 million in restructuring charges, leading to a GAAP net loss of $154 million, compared to a $100 million loss in 3Q21. Adjusted EBITDA was a loss of $42 million. Cash and equivalents totaled $355 million by the end of the quarter. Despite challenges, Compass launched its Compass national agent platform and increased its national market share to 4.6%.

Compass, Inc. (NYSE: COMP) has appointed Kalani Reelitz as Chief Financial Officer, effective November 15, 2022. He brings nearly 20 years of financial and operational experience, previously serving as CFO and COO at Cushman & Wakefield Americas. His role will encompass overseeing the company's financial operations and enhancing profitability. Robert Reffkin, CEO of Compass, emphasized Reelitz's expertise will be vital for the company's growth trajectory. Compass is recognized as the largest residential real estate brokerage in the U.S. and has achieved Fortune 500 status.

Compass, a leading technology-enabled residential real estate brokerage, announced it will release its third quarter 2022 financial results after market close on November 10, 2022. The company will host a conference call at 5:00 p.m. ET to discuss the results. Investors can access the call via the Compass Investor Relations website. Compass is recognized as the largest residential real estate brokerage in the US, providing a technology-driven platform for real estate agents to enhance client service through integrated software solutions.

Compass reported Q2 2022 revenue of $2.0 billion, reflecting a 4% increase year-over-year, driven by a 2% growth in transactions. However, GAAP net loss surged to $101 million from $7 million the previous year due to higher expenses. Compass announced a cost reduction program targeting $320 million in savings to achieve positive cash flow in 2023. The company also reported a national market share increase to 4.6%. Adjusted EBITDA fell to $4 million versus $71 million in Q2 2021.

Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, will announce its second quarter 2022 financial results after market close on August 15, 2022. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results. Investors can access the call via the Compass Investor Relations website. Founded in 2012 and based in New York, Compass is the largest residential real estate brokerage in the U.S., offering a cloud-based platform for agents to enhance service delivery to clients.

Compass (NYSE: COMP) has appointed Dawanna Williams to its board of directors, effective July 1, 2022. With over 20 years in the real estate sector, Williams is the founder of Dabar Development Partners. She possesses extensive knowledge in real estate law, having previously worked with Sidley Austin LLP. Compass, the leading U.S. residential real estate brokerage by closed sales volume, has over 27,000 agents in 352 cities. In the past year, Compass agents transacted over a quarter of a trillion dollars, reinforcing the company's dominant position in the market.

Welcome Homes has launched a Preferred Agent Program in partnership with Compass, aimed at enhancing service offerings for clients in the Tri-State area. This collaboration allows Compass agents to provide Welcome Homes' services, which include rapid vetting of property and guaranteed pricing within 48 hours. The program incentivizes agents through a scalable commission structure and offers various support resources. This initiative seeks to address the significant inventory shortages in the real estate market, ensuring agents can better serve their customers with new construction options.

Compass, the largest residential real estate brokerage in the U.S., debuted on the Fortune 500, marking it as one of the youngest companies ever to achieve this milestone since its founding in 2012. With nearly 30,000 agents across 352 cities, Compass facilitated over a quarter of a trillion dollars in residential real estate transactions last year. CEO Robert Reffkin emphasized that this achievement reflects the company’s commitment to empowering agents with advanced technology for exceptional client service. The firm aims to innovate the real estate experience through its comprehensive tech-enabled platform.