Why Shares of Realogy Holdings Plunged Today
Shares of the real estate brokerage and title and escrow company Realogy Holdings (NYSE: RLGY) plunged by more than 15% today after the company reported earnings results for the fourth quarter and full year of 2020.
In the fourth quarter of 2020, Realogy, which franchises brokerage brands such as Century 21, Coldwell Banker, and Sotheby's International Realty, reported $0.16 earnings per share (EPS) on revenue of roughly $1.9 billion. Both numbers are up significantly from the fourth quarter of 2019.
Fourth-quarter operating earnings before interest, taxes, depreciation, and amortization (EBITDA) of $206 million increased by $80 million year over year. On an adjusted basis, Realogy's fourth-quarter EPS of $0.68 came up short of analysts' expectations by $0.03.
Source Fool.com
