Marcus & Millichap Full Year 2024 Earnings: Beats Expectations

Marcus & Millichap (NYSE:MMI) Full Year 2024 Results

Key Financial Results

• Revenue: US$696.1m (up 7.8% from FY 2023).
• Net loss: US$12.4m (loss narrowed by 64% from FY 2023).
• US$0.32 loss per share (improved from US$0.88 loss in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Marcus & Millichap Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 43%.

In the last 12 months, the only revenue segment was Delivery of Commercial Real Estate Services contributing US$696.1m. Notably, cost of sales worth US$431.5m amounted to 62% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$280.9m (94% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$20.5m. Explore how MMI's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Real Estate industry in the US.

Performance of the American Real Estate industry.

The company's shares are up 3.1% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Marcus & Millichap's balance sheet health.

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