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Marcus & Millichap Q3 revenue rises on higher brokerage sales volume

By Reuters News


Overview

  • US commercial real estate broker's Q3 revenue rose 7.5% yr/yr

  • Adjusted EPS for Q3 was $0.03, up from $0.01 a year ago

  • Revenue growth driven by higher sales volume in middle and larger transaction markets


Outlook

  • Company expects near-term challenges in commercial real estate transactions to extend through 2026

  • Marcus & Millichap anticipates increased sales activity as loan maturities and postponed transactions drive trades into 2027

  • Company cites interest rate volatility, inflation, and wider bid/ask spreads as key factors influencing outlook


Result Drivers

  • BROKERAGE SALES VOLUME - Co said Q3 revenue growth was mainly due to a 12.6% increase in total brokerage sales volume, partly offset by a lower average commission rate

  • MIDDLE AND LARGER TRANSACTIONS - Revenue from middle market and larger transactions grew 18.1% yr/yr, outpacing private client market growth

  • OPERATING COSTS - Operating expenses rose, driven by higher cost of services as senior professionals earned higher commissions


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$208.37 mln

$205.10 mln (2 Analysts)

Q3 EPS

$0.03

Q3 Net Income

$1.007 mln

Q3 Adjusted EBITDA

Miss

$8.20 mln

$9.05 mln (2 Analysts)

Q3 Operating Expenses

$209.27 mln


Reuters Recommended Reads

  • Nov 5 - Real REMAX Group Q3 revenue rises 28%, beats estimates

  • Nov 5 - Real estate services firm Compass Q3 revenue meets analyst estimates

  • Nov 4 - Zillow Q3 revenue rises 7% despite weak housing market


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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