Welcome to our dedicated page for Compass news (Ticker: COMP), a resource for investors and traders seeking the latest updates and insights on Compass stock.
Compass, Inc. (NYSE: COMP) generates frequent news as a tech-enabled residential real estate services company and operator of what it describes as the largest residential real estate brokerage in the United States by sales volume. Based in New York City and founded in 2012, the company regularly issues updates on its housing market outlook, corporate initiatives, capital markets activity, and strategic transactions.
News about Compass often covers its analytical perspective on the U.S. housing market, such as Housing Market Outlook reports that discuss trends in affordability, inventory, and transaction dynamics. These publications reflect the company’s role in the residential real estate sector and its interest in explaining how market conditions affect buyers, sellers, and agents.
Corporate and capital markets developments are another major news theme. Compass has announced an all-stock merger with Anywhere Real Estate Inc., resulting in Anywhere becoming a wholly owned subsidiary, and has reported related milestones such as shareholder approvals, regulatory clearances, and closing of the transaction. The company has also disclosed offerings of convertible senior notes and the establishment of a revolving credit facility, along with details on how these financings support merger-related payments and broader corporate purposes.
Operational updates, including quarterly earnings releases, agent growth statistics, and technology platform milestones, appear regularly in Compass news. The company highlights metrics such as transaction volumes, market share, and agent engagement with its proprietary platform. Additional stories feature programs like Compass Cares, which enables real estate professionals to direct charitable giving through the Compass platform, and announcements tied to affiliated brands and subsidiaries, including Christie’s International Real Estate and Cartus.
Investors, real estate professionals, and observers can use this news stream to follow Compass’ strategic direction, technology evolution, transaction activity, and commentary on housing market conditions.
Compass, Inc. (NYSE: COMP) reported a challenging financial performance for Q4 and FY22, with revenues dropping 31% to $1.11 billion for Q4 and 6% to $6 billion for the year, reflecting a downturn in the residential real estate market. Despite a 6% decline in its transactions, Compass increased its market share to 4.6%. The company reported a GAAP net loss of $158 million in Q4, improving from a loss of $175 million in Q4 2021, while FY22 net loss rose to $602 million from $494 million. Looking ahead, Compass expects to achieve free cash flow positivity in Q2 2023 and aims to reduce operating expenses to between $850 million and $950 million.
Compass, Inc. (NYSE: COMP) announced that it will release its fourth quarter and full year 2022 financial results after the market closes on February 28, 2023. The company will host a conference call and webcast to discuss these results at 5:00 p.m. ET. Interested parties can register in advance for the live call through the Compass Investor Relations website. An audio recording of the call will be available for replay for up to 90 days after the event. Founded in 2012, Compass is the largest technology-enabled residential real estate brokerage in the U.S., providing an integrated platform for real estate agents.
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.
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