Douglas Elliman Inc Stock Price, News & Analysis

Douglas Elliman Inc. (NYSE:DOUG) reported disappointing financial results for Q4 and the full year 2022. Consolidated revenues fell to $207.3 million in Q4, down from $334.2 million in Q4 2021, and $1.15 billion for the year, compared to $1.35 billion in 2021. The company faced an operating loss of $21.9 million in Q4 and $4.5 million for the year, a stark contrast to prior year profits. Net loss for Q4 was $18.4 million ($0.24 per share), compared to net income of $20.2 million in Q4 2021. Adjusted EBITDA also declined significantly, indicating a challenging market environment.

Douglas Elliman Inc. (NYSE: DOUG) will host a conference call and webcast on March 10, 2023, at 8:00 a.m. ET to discuss its fourth quarter and full-year 2022 results.

Participants can pre-register via the provided link and will receive a calendar reminder and access details via email. Those who prefer not to pre-register can join the live webcast at least 10 minutes prior to the start time.

A replay of the call will be available from March 10 to March 24, 2023. Additional information about Douglas Elliman is accessible on their website.

Vector Group Ltd. reported record annual tobacco segment revenues, achieving consolidated revenues of $1.44 billion for 2022, up 18.0% year-over-year. Fourth-quarter results showed revenues of $363.8 million, a 16.0% increase compared to the same period last year. Operating income in 2022 was $339.0 million, while fourth-quarter operating income rose to $89.3 million. However, tobacco segment operating income declined 3.7% for the year, reflecting investments in the Montego brand's growth. The company continues to optimize its profit strategy in 2023, focusing on managing volume and market share.

Douglas Elliman Realty announced the promotion of Deva Roberts to Executive Vice President and General Counsel, succeeding Kenneth Haber, who will transition to a business advisory role as Senior Managing Director. Roberts joined Elliman in January 2022, bringing over a decade of litigation experience from Kasowitz Benson Torres LLP. Executive Chairman Howard M. Lorber and CEO Scott Durkin expressed confidence in Roberts' abilities, highlighting her role in the company’s growth trajectory. Douglas Elliman is a leading residential brokerage in the U.S., operating in multiple states and involved in innovative property technology solutions.

Douglas Elliman Realty has named Todd Bourgard as the new Chief Executive Officer for Long Island, Hamptons, and North Fork, effective immediately. Bourgard, previously the Senior Executive Regional Manager, will oversee 36 offices and over 2,000 agents in the region. Melody Newberry has been promoted to VP of Operations, while Ann Conroy transitions to Chairwoman after her impactful tenure as CEO. Bourgard, recognized for his growth initiatives and operational leadership, aims to further enhance the brand's market position. Conroy's advisory role is expected to support the company's ongoing success.

Douglas Elliman Realty announced the appointment of Lisa Seligman as the new Senior Vice President of Human Resources on January 17, 2023. With nearly 25 years of HR experience in luxury brands such as Chanel and Tiffany & Co, Seligman will focus on talent recruitment, development, and diversity initiatives. CEO Scott Durkin emphasized that her leadership is a significant investment in the company’s future. Seligman will operate from the firm's flagship office in Manhattan, reinforcing Douglas Elliman's commitment to professional growth and its legacy in the residential real estate market.

Douglas Elliman Realty has signed a multi-year agreement with the Eklund | Gomes Team, its top-producing partners, who have achieved over $4 billion in transactions in 2022. This move counters the trend of successful agents leaving for other brokerages. The team, led by Fredrik Eklund, John Gomes, and Julia Spillman, has consistently excelled in sales volume and gross commission income, operating in 13 markets. Their partnership with Douglas Elliman is believed to provide a strong platform for continued growth and success in the competitive real estate market.

Douglas Elliman Inc. (NYSE: DOUG) has announced a quarterly cash dividend of $0.05 per share, payable on December 22, 2022, to stockholders of record as of December 12, 2022. This reflects the company's commitment to providing returns to its shareholders. Douglas Elliman operates as a leading residential brokerage in the U.S., with significant operations across multiple states, including New York, Florida, and California. The company also invests in early-stage property technology solutions.