Redfin (RDFN) Tops Q1 EPS by 1c, provides guidance

Redfin (NASDAQ: RDFN) reported Q1 EPS of ($0.57), $0.01 better than the analyst estimate of ($0.58). Revenue for the quarter came in at $225.5 million versus the consensus estimate of $217.82 million.

GUIDANCE:

Redfin sees Q2 2024 revenue of $285-295 million, versus the consensus of $283.8 million.
Included within total revenue are real estate services revenue between $180 million and $188 million, rentals revenue between $50 million and $51 million, mortgage revenue between $39 million and $42 million and other revenue of approximately $16 million.
Total net loss is expected to be between $34 million and $28 million, compared to net loss of $27 million in the second quarter of 2023. This guidance includes approximately $41 million in total marketing expenses, $18 million of stock-based compensation, $9 million in depreciation and amortization, and $3 million in net interest expense. Adjusted EBITDA loss is expected to be between a loss of $4 million and positive $2 million. Furthermore, we expect to pay a quarterly dividend of 30,640 shares of common stock to our preferred stockholder.

For earnings history and earnings-related data on Redfin (RDFN) click here.

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