Earnings ·
Compass reports Q3 revenue of $3.9 billion and net income of $62 million
COMPCompass, Inc.
Compass reported third-quarter revenue of $3.9 billion, up 11% year-over-year on a pro forma basis, with GAAP net income of $62 million compared to a loss in the prior year period. Adjusted EBITDA reached an all-time record high of $306 million, while operating cash flow was $248 million and free cash flow was $240 million. The company ended the quarter with $841 million in cash and no balance on its revolver, maintaining a net debt to adjusted EBITDA ratio of 2.7x. Compass also provided Q4 revenue guidance of $3.15 billion to $3.35 billion and full-year free cash flow positivity. The company operates as a global real estate services firm offering brokerage, franchise, and integrated mortgage and title services.