Loss of Yearly Revenue for 2022 at Douglas Elliman 2023

It’s earnings report season for the real estate business, and we’ll keep you abreast of the newest figures!

Quarterly and yearly data given by Douglas Elliman reveal mild reductions across the board. According to the company’s income statement, revenues for the fourth quarter of 2022 were $207.3 million, compared to $334,2 million for the fourth quarter of 2021. In the fourth quarter of 2022, the firm incurred an operating loss of $21.9 million, compared to an operating profit of $19.2 million in the fourth quarter of 2021.

Douglas Elliman incurred a net loss of $18.4 million during the fourth quarter of 2022, compared to a net income of $20.2 million during the fourth quarter of 2021.

The revenue for the year ending December 31, 2022, was $1.15 billion, compared to $1.35 billion for the year ending December 31, 2021. The company’s operating loss for the year ended 31 December 2022 was $4.5 million, compared to an operating gain of $102.1 million for the year ended 31 December 2021.

Douglas Elliman’s net loss for the year ending December 31, 2022, was $5.6 million, compared to a net income of $98,8 million.

“Douglas Elliman’s team of world-class agents handled the difficulties of the fourth quarter, which was distinguished by restricted listing inventory and dramatically elevated mortgage rates,” stated Howard M. Lorber, Douglas Elliman’s Chairman and Chief Executive Officer. “The strength of Douglas Elliman’s bank sheet, a global network of outstanding agents, and premium brand position us to capitalize when real estate markets stabilize. We remain convinced that the Company’s distinctive platform and strategy will allow us to sustain long-term development.”