Marcus & Millichap (MMI) Q4 Earnings Report Preview: What To Look For

Max Juang /
2024/02/15 2:01 am EST

Real estate brokerage and services firm Marcus & Millichap (NYSE:MMI) will be reporting earnings tomorrow before market open. Here's what to look for.

Last quarter Marcus & Millichap reported revenues of $162 million, down 50% year on year, missing analyst expectations by 1.7%. It was a slower quarter for the company, with a miss of analysts' revenue estimates.

Is Marcus & Millichap buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Marcus & Millichap's revenue to decline 34.8% year on year to $171.2 million, improvement on the 47% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.28 per share.

Marcus & Millichap Total Revenue

The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing one upward revision over the last thirty days. The company missed Wall St's revenue estimates three times over the last two years.

Looking at Marcus & Millichap's peers in the consumer discretionary segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Universal Technical Institute delivered top-line growth of 45.6% year on year, beating analyst estimates by 3.8% and MGM Resorts reported revenues up 21.8% year on year, exceeding estimates by 5.8%. Universal Technical Institute traded up 4.2% on the results, and MGM Resorts was down 2.1%.

Read our full analysis of Universal Technical Institute's results here and MGM Resorts's results here.

There has been positive sentiment among investors in the consumer discretionary segment, with the stocks up on average 6.8% over the last month. Marcus & Millichap is up 5.6% during the same time, and is heading into the earnings with analyst price target of $20, compared to share price of $38.6.

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