Financial Data and Key Metrics Changes - Revenue growth of 7% compared to the previous quarter and 8% year-over-year, driven by strong market conditions and lower fixed expenses, leading to a margin expansion of 450 basis points [11] - Adjusted operating income increased by 22% compared to the prior quarter and 12% year-over-year [12] - Adjusted net income per adjusted share rose by 23% quarter-over-quarter and 11% year-over-year [12] Business Line Data and Key Metrics Changes - Assets under management (AUM) reached an all-time high of $181.3 billion, with net inflows in 14 of 26 investment strategies year-to-date [7][8] - The credit business saw $1.8 billion in year-to-date net inflows, marking the 13th consecutive quarter of positive credit flows [8] - Emerging markets strategies, including Sustainable Emerging Markets and Developing World, experienced positive inflows, indicating growing demand [8][19] Market Data and Key Metrics Changes - Strong performance in equities, with several strategies generating year-to-date returns exceeding 20%, outperforming benchmarks by 425 to 934 basis points net of fees [5][6] - The company noted a resurgence in interest in emerging markets, contrasting with previous trends where allocations were cut [19][20] Company Strategy and Development Direction - The company aims to expand its multi-asset class investment platform by enhancing distribution and aligning compensation to a sales orientation [9][28] - Focus on internal and external talent acquisition to build differentiated investment franchises, particularly in real estate, private credit, and secondaries [9][10][24] - The company is modernizing its vehicle lineup to adapt to evolving client preferences, including models, SMAs, ETFs, and private funds [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the investment performance, with over 70% of AUM outperforming benchmarks over three years [4] - The outlook for performance fees in the fourth quarter is projected to be similar to the previous year, subject to market conditions [14] - Management acknowledged the impact of client rebalancing activities, particularly in the intermediate wealth space, but noted strong long-term performance [39] Other Important Information - The company declared a quarterly dividend of $0.88 per share, a 21% increase over the prior quarter [14] - The balance sheet remains strong with $300 million in cash and $140 million in firm seed investments [13] Q&A Session Summary Question: Demand for non-U.S. strategies - Management noted growing demand in global mandates and direct international equity exposure, particularly in emerging markets [17][19] Question: M&A opportunities and allocation - Management highlighted active engagement in real estate and emphasized that M&A opportunities will not be transformative but will align with the company's core values [21][24] Question: Improving gross flows and distribution efforts - Management discussed efforts to enhance distribution by aligning compensation with sales and expanding the team targeting the UK and Middle East markets [27][29] Question: Client rebalancing activity - Management provided insights into rebalancing trends, particularly in the intermediate wealth space, and noted that these were not terminations but adjustments in exposure [38][39] Question: Outlook on expenses - Management confirmed that fixed expense growth is tracking in the mid-single digits, with no unusual changes expected moving forward [41][42]

Core Insights - Anywhere Real Estate Inc. will release its financial results for Q3 2025 on November 4, 2025, and will host a conference call at 8:00 a.m. ET to discuss the results and provide a business update [1]. Company Overview - Anywhere Real Estate Inc. is a global leader in residential real estate services, offering integrated services including franchise, brokerage, relocation, and title and settlement businesses, as well as mortgage and title insurance underwriter minority-owned joint ventures [3]. - The company operates under several well-known brands such as Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker®, Coldwell Banker Commercial, Corcoran, ERA, and Sotheby's International Realty, supporting over 300,000 affiliated agents globally [3].

Core Viewpoint - Anywhere Real Estate Inc. reported a 13.1% increase in revenue year-over-year for Q2 2025, driven by improved volume trends and strategic initiatives in AI and digital innovation [4][9]. Financial Highlights - Revenue for Q2 2025 was $1,682 million, up from $1,669 million in Q2 2024, reflecting a $13 million increase [4][9]. - Operating EBITDA decreased to $133 million from $143 million year-over-year, a decline of 7% [4][9]. - Net income attributable to Anywhere was $27 million, down from $30 million, representing a 10% decrease [4][9]. - Adjusted net income also fell to $36 million from $40 million, a decrease of 10% [4][9]. - Earnings per share decreased to $0.24 from $0.27, an 11% decline [4][9]. - Free Cash Flow was negative $5 million, a significant drop from $63 million in Q2 2024, largely due to a one-time $41 million legacy tax payment [4][9]. Key Drivers - Closed homesale sides in the Anywhere Brands - Franchise Group decreased by 4% to 186,970, while the average homesale price increased by 4% to $527,356 [4][9]. - In the Anywhere Advisors - Owned Brokerage Group, closed homesale sides fell by 3% to 69,479, with the average homesale price rising by 3% to $800,807 [4][9]. - The Title Group saw a 3% decrease in purchase title and closing units, but a 20% increase in refinance title and closing units [4][9]. Guidance and Future Outlook - The company anticipates cost savings of approximately $100 million in 2025, although this may be partially offset by inflation and investments [8]. - Operating EBITDA for the full year 2025 is expected to be around $350 million, contingent on housing market performance [8]. - The company expects Free Cash Flow, excluding one-time items, to be approximately $70 million [10]. Debt and Financial Flexibility - The company enhanced its financial flexibility through a $500 million bond issuance, with no significant note maturities until 2029 [2][9]. - Total corporate debt was reported at $2.6 billion as of June 30, 2025, with cash and cash equivalents of $266 million [13][15].

Core Insights - Anywhere Real Estate Inc. will release its financial results for Q2 2025 on July 29, 2025, and will host a conference call at 8:30 a.m. ET to discuss the results and provide a business update [1] Company Overview - Anywhere Real Estate Inc. is a global leader in residential real estate services, offering integrated services including franchise, brokerage, relocation, title and settlement, as well as mortgage and title insurance through minority-owned joint ventures [3] - The company operates under several well-known brands such as Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty® [3] - Anywhere Real Estate Inc. supports a network of over 300,000 affiliated agents globally, enhancing their productivity and service to consumers [3]

Company Overview - Anywhere Real Estate Inc. (NYSE: HOUS) is a global leader in residential real estate services, offering integrated services including franchise, brokerage, relocation, title and settlement businesses, as well as mortgage and title insurance underwriter minority-owned joint ventures [3]. Upcoming Event - CEO Ryan Schneider will participate in the KBW Virtual Real Estate Finance & Technology Conference on May 20, 2025, at 12:00 p.m. EST, with the remarks being webcast and archived for 90 days [1][2].