Compass reports Q1 EPS (9c) consensus (6c)

Reports Q1 revenue $1.36B, consensus $1.42B. “Despite the heightened market volatility in Q1, Compass (COMP) achieved record Q1 free cash flow, record Q1 Adjusted EBITDA and grew revenue by 28.7% year-over-year,” said Robert Reffkin, Founder and Chief Executive Officer of Compass. “In the first quarter, we continued to widen the gap against the industry as we grew organic transactions3 by 7.3% and total transactions by 27.8% compared to the market where transactions declined by 2.1% year-over-year, which means organic and total transactions outgrew the market by roughly 9% and 30%, respectively. Organic quarterly market share grew 82 basis points and total quarterly market share grew 125 basis points to 6.0%, which is our highest year-over-year market share increase in 8 quarters and 15 quarters, respectively. These results illustrate that the top agents and teams in the industry continue to take share and Compass has the highest number of both per RealTrends.”