Douglas Elliman's first-quarter revenue declines, reports a loss.

Investing.com - Douglas Elliman Company (NYSE:DOUG) announced first quarter results, with revenue down 15% year-over-year, hurt by last year’s high base effect and the divestiture of its property management business, resulting in a loss.

This luxury residential real estate brokerage posted an adjusted loss of $0.14 per share for the quarter ended March 31, compared with an adjusted loss of $0.05 per share in the same period last year.

Revenue fell from $253.4 million in Q1 2025 to $214.3 million. Excluding the divested property management business (which contributed $9.5 million in revenue in the same period last year), revenue decreased 12% year-over-year from $243.9 million.

During the quarter, the company achieved total transaction value of approximately $8.6 billion, with an average transaction price of $1.96 million, down from $9.9 billion and $2.02 million in Q1 2025.

Douglas Elliman recorded an operating loss of $17.5 million, compared with an operating loss of $5.3 million in the same period last year. The adjusted EBITDA loss widened from $900k in the prior year to $10.4 million.

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Douglas Elliman President and CEO Michael S. Liebowitz said: “Whether it’s the positive momentum in talent recruitment or the evolution of the overall competitive landscape, I am confident in the company’s future trajectory, which is the strongest confidence I’ve had since taking office.”

As of March 31, Douglas Elliman’s balance sheet remained solid, holding approximately $96 million in cash and with no long-term debt.

The company also disclosed that its development and marketing project backlog totals approximately $27.2 billion, including $19.5 billion located in Florida, and another $8.4 billion in projects expected to be gradually brought to market before March 31, 2027.

In addition, the company continues to expand its international footprint, having entered markets such as Canada, France, Monaco, and the Caribbean, while also developing new domestic markets including California’s wine regions, Richmond in Virginia, and Rye, New York.

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