Re Max Hldgs Inc Stock Price, News & Analysis

RE/MAX Holdings, Inc. (NYSE: RMAX) announced the impending departure of CEO Adam Contos, effective March 31, 2022, to focus on family and new ventures. Stephen Joyce, a Board member, will serve as interim CEO starting March 1, 2022, ensuring a smooth transition. The Board plans to establish a CEO search committee for a permanent replacement. Additionally, RE/MAX appointed Nick Bailey and Ward Morrison as CEOs of RE/MAX and Motto Mortgage, respectively. The Board also authorized a $100 million share repurchase program, reflecting confidence in the company's strategic growth and financial health.

RE/MAX Holdings (NYSE: RMAX), a leading real estate franchisor, announced the participation of Chief Financial Officer Karri Callahan and Ward Morrison, President of Motto Franchising, at the 2021 Stephens Investment Conference on December 1, 2021, at 8:00 a.m. CST. The event will include a live webcast, accessible through their investor relations website. With more than 140,000 agents in over 8,600 offices globally, RE/MAX continues to lead the industry in residential real estate transactions.

RE/MAX Holdings reported a 28% increase in total revenue to $91 million in Q3 2021 compared to the previous year. Excluding Marketing Funds, revenue grew by 25.9% driven by 6.9% organic growth and acquisitions, particularly the RE/MAX INTEGRA North American acquisition. However, the company faced a net loss of $25.1 million and a GAAP loss per share of $1.34. Adjusted EBITDA rose by 15.2% to $35 million, while agent count increased 4.6% to over 140,000. The company anticipates stronger growth in 2022, despite recent challenges.

RE/MAX Holdings (NYSE:RMAX) will release preliminary financial results for Q3 2021 on November 22, 2021, after market close. A conference call is scheduled for November 23, 2021, at 8:30 a.m. Eastern Time. The company is one of the largest franchisors of real estate brokerage services globally, with over 140,000 agents in more than 8,600 offices across over 110 countries. RE/MAX continues to innovate within the industry, having launched Motto Mortgage in 2016, which now has over 175 offices.

RE/MAX, LLC announced the appointment of Christopher Alexander as President of RE/MAX Canada on November 18, 2021. This follows the successful acquisition of RE/MAX INTEGRA, expanding their network to over 19,000 agents in Ontario and the Atlantic provinces. Alexander brings a strong background in real estate, having started as a RE/MAX Sales Associate in 2010. RE/MAX's agent count in Canada has recently grown by 10% year over year, reflecting its strong position in the market. The company aims to unify its brand strategy across Canada under Alexander's leadership.

RE/MAX announced that Gary Acosta, Co-Founder & CEO of NAHREP, received the "On the Shoulders of Giants" award at the RISMedia event on November 12, 2021. This award honors those whose contributions in real estate often go unrecognized. Acosta has significantly advanced NAHREP, which boasts over 40,000 members and 80 local chapters. He also founded the Hispanic Wealth Project, aiming to triple Hispanic household wealth by 2024. RE/MAX has partnered with NAHREP since 2015 and has sponsored this award for 15 years, showing its commitment to the Hispanic community.