Experienced mortgage leader to oversee regional growth, recruiting and strategic partnerships in key West Coast market CHICAGO, Dec. 11, 2025 /PRNewswire/ -- Guaranteed Rate Affinity, a leading mortgage provider offering unparalleled lending services, today announced the promotion of Lacey Sullivan to Regional Manager for Northern California. In this role, Sullivan will oversee the region's leadership team, guide growth initiatives, support recruiting and development efforts, and lead engagement with Coldwe ...

Core Insights - Guaranteed Rate Affinity has promoted Jaime Joyce to Chief Operations and Strategy Officer, recognizing her extensive experience and contributions to the company [1][2]. Company Overview - Guaranteed Rate Affinity is a joint venture between Guaranteed Rate, Inc. and Anywhere Integrated Services, having funded over $100 billion in loans since its inception [6][8]. - The company provides mortgage lending services to Anywhere's real estate, brokerage, and relocation subsidiaries, ensuring fast pre-approvals, appraisals, and loan closings for customers [7]. Leadership and Achievements - Jaime Joyce has a two-decade career in the mortgage industry, having advanced through various roles, including her recent position as Executive Vice President of Operations [2]. - Joyce led the nationwide rollout of the Same Day Mortgage program, which allows loan officers to approve loans in one day and close in as little as ten days, with over 90% of eligible loans utilizing this process [3]. - She has successfully guided her teams through significant industry transitions, particularly during and after COVID, while fostering a culture of efficiency and customer-first service [4][6]. Commitment to Diversity and Mentorship - Joyce plays a key role in promoting women within the organization through her involvement in GROW, the Guaranteed Rate Organization for Women, mentoring participants to enhance their skills and advance their careers [4].

Core Insights - The Coldwell Banker 2025 American Dream Report reveals that 71% of aspiring homeowners are delaying major life decisions until they can afford to buy a home, indicating a significant impact on family life and the economy [1][3]. Homeownership Trends - Homeownership remains central to the American Dream, with 56% of Americans stating it represents their personal vision of the American Dream, surpassing other milestones like marriage and career success [7]. - Among aspiring homeowners, 84% of Gen Z (ages 18-28) are postponing life decisions, with 29% delaying having children until they can afford a home [2][6]. Financial Perspectives - A majority of Americans (65%) believe that homeownership is a smarter long-term financial decision compared to renting, and 48% view real estate as a better wealth-building tool than the stock market [5]. - Nearly two-thirds (63%) of non-homeowners express a desire to purchase a home within the next five years, with 70% of Gen Z and 72% of Millennials sharing this sentiment [9]. Creative Solutions for Affordability - Many Americans are making concessions to navigate housing affordability, with 42% willing to take on side jobs and 35% considering moving to more affordable areas [5][13]. - 36% of individuals have considered co-buying with family to achieve homeownership, highlighting a trend towards collaborative purchasing [13].

Financial Performance - For the three months ended September 30, 2025, net revenues increased to $1,626 million, up from $1,535 million in the same period of 2024, representing a growth of 5.9%[32] - Gross commission income for the nine months ended September 30, 2025, was $3,680 million, compared to $3,525 million in 2024, reflecting an increase of 4.4%[32] - The company reported a net loss of $13 million for the three months ended September 30, 2025, compared to a net income of $7 million in the same period of 2024[34] - For the nine months ended September 30, 2025, Anywhere Real Estate Inc. reported a net loss of $63 million, compared to a net loss of $64 million for the same period in 2024[37] - Total consolidated net revenues for Q3 2025 reached $1,626 million, a 5.9% increase from $1,535 million in Q3 2024[134] - For the nine months ended September 30, 2025, total consolidated net revenues were $4,512 million, a 4.2% increase from $4,330 million in the same period of 2024[139] Expenses and Losses - Total expenses for the nine months ended September 30, 2025, were $4,598 million, an increase from $4,417 million in 2024, marking a rise of 4.1%[32] - The company incurred restructuring and merger-related costs of $14 million for the three months ended September 30, 2025, compared to $6 million in the same period of 2024[32] - Total expenses rose by $111 million or 7% in Q3 2025, primarily due to $14 million in restructuring and merger-related costs compared to $6 million in Q3 2024[177] - The company incurred $5 million in merger-related costs associated with the pending merger with Compass, primarily for legal and advisory services[138] Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2025, were $139 million, up from $118 million at the end of 2024, indicating a growth of 17.8%[36] - The net cash used in operating activities was $(15) million for the nine months ended September 30, 2025, a decrease from $37 million provided in the same period of 2024[37] - Cash provided by operating activities was $(15) million for the nine months ended September 30, 2025, compared to $37 million in 2024[206] - Cash and cash equivalents increased by $21 million, primarily due to debt transactions[208] Assets and Liabilities - Total assets increased to $5,743 million as of September 30, 2025, compared to $5,636 million as of December 31, 2024, representing a growth of 1.9%[36] - The company’s accumulated deficit increased to $3,283 million as of September 30, 2025, from $3,219 million at the end of 2024[36] - The company’s long-term debt as of September 30, 2025, was $2,125 million, a slight decrease from $2,031 million at the end of 2024[36] - Total short-term and long-term debt as of September 30, 2025, is $2,576 million, up from $2,521 million as of December 31, 2024[79] Shareholder Information - Weighted average common shares outstanding for the three months ended September 30, 2025, were 112.0 million, compared to 111.3 million in the same period of 2024[32] - The company has a share repurchase program authorized for up to $300 million, with $203 million remaining available for repurchase as of September 30, 2025[123] - The company has not repurchased any shares under the share repurchase programs since 2022[123] Mergers and Acquisitions - Anywhere Real Estate Inc. entered into a Merger Agreement with Compass on September 22, 2025, where each share of the Company's common stock will convert into 1.436 shares of Compass class A common stock[43] - The Merger Agreement includes a termination fee of $200 million payable by either party under certain conditions, and a fee of $350 million if regulatory clearances are not obtained[45] Legal Matters - The company is involved in various legal proceedings, including antitrust litigation, which may have significant financial implications[99] - The Anywhere Settlement, related to antitrust claims, received final court approval on May 9, 2024, but has been appealed by several parties[103] - The settlement mandates practice changes for Company-owned brokerages and recommends similar changes for franchisees, to be implemented within six months after final court approval[108] Operational Performance - The Franchise Group generated net revenues of $1,340 million in Q3 2025, a 6.5% increase from $1,258 million in Q3 2024[134] - The Owned Brokerage segment reported net revenues of $495 million for the nine months ended September 30, 2025, up from $490 million in the same period of 2024[139] - Operating EBITDA for the Franchise Group increased by $15 million to $415 million, with an operating EBITDA margin of 56%[195] Market Conditions - The U.S. Federal Reserve lowered the target federal funds rate to a range of 3.75% to 4.00% in September and October 2025[157] - As of September 25, 2025, the U.S. weekly average rate for a 30-year conventional fixed-rate mortgage was 6.30%[158]

Core Viewpoint - Anywhere Real Estate and Compass have announced a definitive merger agreement in an all-stock transaction, expected to close in the second half of 2026, pending shareholder and regulatory approvals [3]. Group 1: Merger Details - The merger between Compass and Anywhere is anticipated to close in the second half of 2026, subject to shareholder approval and customary closing conditions [3]. - The company is suspending its forward guidance due to the pending merger and will not provide updates on prior guidance, but will continue to share updates on achieving a $100 million cost savings target [3]. Group 2: Financial Reporting Adjustments - Deal-related expenses will be excluded from operating EBITDA and categorized under restructuring and merger-related costs [4]. - Employee noncash stock-based compensation is added back to operating EBITDA, while cash-settled compensation expenses are not included [4].

Core Insights - Anywhere Real Estate reported break-even quarterly earnings per share, missing the Zacks Consensus Estimate of $0.18, compared to earnings of $0.05 per share a year ago, resulting in an earnings surprise of -100.00% [1] - The company posted revenues of $1.63 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 4.20%, and showing an increase from $1.54 billion year-over-year [2] - The stock has increased approximately 208.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 16.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.13 on revenues of $1.38 billion, and for the current fiscal year, it is -$0.20 on revenues of $5.83 billion [7] - The estimate revisions trend for Anywhere Real Estate was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Real Estate - Operations industry is currently in the top 27% of over 250 Zacks industries, suggesting a favorable outlook as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8] - Sunrise Realty Trust, Inc., another company in the same industry, is expected to report quarterly earnings of $0.31 per share, reflecting a year-over-year change of +24%, with revenues anticipated to be $6.2 million, up 95% from the previous year [9][10]

Financial Data and Key Metrics Changes - Q3 revenue was $1.6 billion, up 6% year-over-year, while operating EBITDA was $100 million, down $8 million compared to the prior year due to increased employee long-term cash incentive costs and elevated health and welfare costs [15][16] - The company realized $28 million in cost savings in Q3 and $67 million year-to-date, on track to achieve $100 million in cost savings for 2025 [16] - Free cash flow was $92 million, down $7 million year-over-year, primarily due to increased capital expenditures for AI initiatives [16] Business Line Data and Key Metrics Changes - Anywhere Brands operating EBITDA was $155 million, up $4 million year-over-year, with a 57% operating EBITDA margin [17] - Anywhere Advisors operating EBITDA was negative $11 million, flat year-over-year, with an operating EBITDA margin of negative 1% [17][18] - Anywhere Integrated Services operating EBITDA was negative $1 million, down $3 million year-over-year, reflecting the high fixed-cost nature of the business [18][19] Market Data and Key Metrics Changes - Q3 closed transaction volume increased by 7%, marking the first growth in units since Q4 2024, outperforming NAR's volume growth by over 2 percentage points [8] - Luxury business saw a 12% year-over-year volume growth, driven by a 9% increase in units and a 3% increase in price [9] - Advisors recruited nearly 500 productive agents in the quarter, with a 12% year-over-year growth in business recruited [9] Company Strategy and Development Direction - The proposed merger with Compass is expected to create a platform that enhances value for agents, franchisees, and employees while preserving brand independence [6][7] - The company is focused on leveraging AI technology to streamline operations and improve customer experiences, with significant progress in automating document processing [11][20] - The Reimagine 25 initiative aims to enhance operations and unlock growth opportunities through AI-enabled technology [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook for Q4, with September seeing a 9% increase in open volume and continued growth into October [8] - The company is confident in its financial position, with no significant note maturities until 2029 and ample liquidity available [16] - Management emphasized the importance of innovation and AI in transforming the transaction experience and driving long-term value [22] Other Important Information - The company is suspending forward guidance due to the pending merger, and will not hold a Q&A session following the call [5][20] - The company has repurchased $22 million of exchangeable notes during Q3, building on previous repurchases [16] Summary of Q&A Session - No questions were taken during the conference call due to the pending merger and the decision to suspend forward guidance [5][20]

Third Quarter Earnings November 4, 2025 Charlotte Simonelli Executive Vice President and Chief Financial Officer 1 Management Presenters Tom Hudson Vice President, Investor Relations 2 Ryan Schneider Chief Executive Officer and President Forward-Looking Statements This presentation contains "forward-looking statements," within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "believes", "exp ...

Financial Performance - Revenue for Q3 2025 was $1.626 billion, an increase of $91 million or 6% year-over-year[4] - Net loss attributable to Anywhere was $13 million, a decline of $20 million year-over-year, with adjusted net income decreasing by $16 million to zero[4] - Gross commission income for Q3 2025 was $1,323 million, up from $1,242 million in Q3 2024, representing a 6.5% increase[24] - Net revenues for the nine months ended September 30, 2025, reached $4,512 million, compared to $4,330 million for the same period in 2024, reflecting a 4.2% growth[24] - Total revenues for the Company increased by 4% to $4.512 billion in 2025 from $4.330 billion in 2024[49] - Operating EBITDA for the Company decreased by 3% to $232 million in 2025 compared to $238 million in 2024[49] - The company reported a net loss attributable to Anywhere of $128 million for the four-quarter period ended September 30, 2025, with a loss of $64 million in Q4 2024 and a loss of $78 million in Q1 2025[68] Expenses and Costs - Total expenses for Q3 2025 were $1,643 million, compared to $1,532 million in Q3 2024, indicating a 7.3% increase[24] - The company incurred $14 million in restructuring and merger-related costs in Q3 2025, compared to $6 million in Q3 2024[27] - Total expenses for the year ended December 31, 2024, were $5.828 billion, with a quarterly breakdown of $1.254 billion, $1.631 billion, $1.532 billion, and $1.411 billion[62] - The company incurred restructuring costs of $32 million for the year ended December 31, 2024, with quarterly costs of $11 million, $7 million, $6 million, and $8 million[62] Cash Flow and Debt - Free Cash Flow for Q3 2025 was $92 million, compared to $99 million in the same quarter last year[4] - The company realized cost savings of $28 million in Q3 2025 and is on track to achieve $100 million in total cost savings for the year[3] - Total corporate debt was $2.5 billion at September 30, 2025, with cash and cash equivalents of $139 million[8] - The Senior Secured Leverage Ratio was 0.85x and the Net Debt Leverage Ratio was 6.7x at September 30, 2025[8] - The company generated $500 million from the issuance of Senior Secured Second Lien Notes during the financing activities for the nine months ended September 30, 2025[32] Business Operations - Closed transaction volume increased by 7% year-over-year, with units up 2% and average price up 5%[3] - The company welcomed 13 new US franchisees and one new international expansion in Q3 2025[3] - The average homesale price increased by 6% to $524,184 for the nine months ended September 30, 2025, up from $495,176 in 2024[34] - The company experienced a 2% decrease in closed homesale sides for the nine months ended September 30, 2025, totaling 517,544 compared to 528,980 in 2024[34] Adjusted Metrics and Definitions - Operating EBITDA is used for company-to-company performance comparisons, excluding factors like capital structure and taxation[75] - Adjusted net income (loss) is presented to provide transparency and is defined as net income (loss) before specific adjustments including non-cash stock-based compensation and restructuring charges[76] - Free Cash Flow is defined as net income (loss) before various expenses and is used for evaluating operating effectiveness and resource allocation[77] - Free Cash Flow does not reflect changes in working capital needs or cash requirements for servicing debt[78] - The company emphasizes that Free Cash Flow should not be considered in isolation from GAAP measures[77] - Limitations of Operating EBITDA include not reflecting interest expense or income tax expense[78] - Adjusted net income (loss) includes adjustments for legal contingencies and gains or losses on asset sales[76] - Free Cash Flow may differ from similar measures presented by other companies, indicating potential inconsistencies in calculation[78] - The company believes that Operating EBITDA is frequently used by analysts and investors for evaluation purposes[75] - The company provides reconciliations to net income (loss) and net cash provided by operating activities for clarity on Free Cash Flow[77] Future Outlook - The proposed merger with Compass is expected to close in the second half of 2026, pending shareholder and regulatory approvals[2]

Core Insights - Anywhere Real Estate Inc. reported a revenue of $1.626 billion for Q3 2025, an increase of $91 million or 6% year-over-year [4][11] - The company experienced a net loss of $13 million, a decline of $20 million compared to the previous year, resulting in a loss per share of $0.12 [4][11] - The proposed merger with Compass is expected to create a leading platform for real estate services, enhancing innovation and operational efficiency [2][11] Financial Performance - Revenue for Q3 2025 was $1,626 million, up from $1,535 million in Q3 2024, marking a 6% increase [4] - Operating EBITDA decreased to $100 million from $108 million, a decline of 7% [4] - Free Cash Flow was reported at $92 million, down from $99 million year-over-year [4][11] Key Operational Metrics - Closed homesale sides increased by 2% to 193,485 compared to 189,833 in Q3 2024 [4] - The average homesale price rose by 5% to $526,210 from $502,512 [4] - The company welcomed 13 new U.S. franchisees and one international expansion during the quarter [11] Cost Management and Savings - The company achieved $28 million in cost savings in Q3 2025 and is on track to realize $100 million in total cost savings for the year [3][11] - Additional temporary cost controls generated $6 million in savings during the same quarter [11] Market Position and Trends - The combined closed transaction volume increased by 7% year-over-year, outperforming the National Association of Realtors' reported market growth by over 2 percentage points [9][11] - Continued strength in luxury real estate brands, with closed transaction volume increasing by 12% year-over-year [11] Debt and Financial Health - Total corporate debt, net of cash and cash equivalents, stood at $2.5 billion as of September 30, 2025 [12] - The Senior Secured Leverage Ratio was reported at 0.85x, while the Net Debt Leverage Ratio was 6.7x [12]