Redfin (RDFN) To Report Earnings Tomorrow: Here Is What To Expect

Real estate technology company Redfin (NASDAQ:RDFN) will be announcing earnings results tomorrow afternoon. Here's what to expect.

Redfin missed analysts' revenue expectations by 1% last quarter, reporting revenues of $218.1 million, down 54.5% year on year. It was a decent quarter for the company, with a solid beat of analysts' earnings estimates.

Is Redfin a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Redfin's revenue to grow 1.7% year on year to $217.8 million, a reversal from the 64.2% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.57 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Redfin has missed Wall Street's revenue estimates six times over the last two years.

Looking at Redfin's peers in the real estate services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. RE/MAX's revenues decreased 8.3% year on year, beating analysts' expectations by 1.3%, and CBRE reported revenues up 7.1%, in line with consensus estimates. RE/MAX traded up 7.5% following the results.

Read our full analysis of RE/MAX's results here and CBRE's results here.

Growth stocks have been quite volatile since the start of 2024, and while some of the real estate services stocks have fared somewhat better, they have not been spared, with share prices down 3.4% on average over the last month. Redfin's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $6.7 (compared to the current share price of $6.2).

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