Douglas Elliman Posts 13.2 Percent Revenue Growth

Quarterly earnings reports are trickling in, giving us an inside look at just how strong of a start brokerages and real estate companies are having in this new year. Newly public Douglas Elliman posted sizable revenue gains in Q1, compared to the first quarter of 2021.

Per its earnings report, Douglas Elliman brought in consolidated revenues of $308.9 million, an increase of 13.2 percent or $36.1 million, compared to Q1 of 2021. 

For the first quarter of 2022, Douglas Elliman’s real estate brokerage achieved gross transaction value of approximately $11.7 billion, compared to approximately $10.1 billion a year earlier.

“Douglas Elliman’s strong momentum continued in the first quarter of 2022,” said Howard Lorber, Chairman and Chief Executive Officer of Douglas Elliman. “We are extremely proud of the success we are achieving and we believe we are well-positioned to capitalize on opportunities in the U.S. residential real estate market to continue driving value for all stakeholders.”

Douglas Elliman recorded operating income of $7.9 million for the first quarter of 2022, compared to an operating income of $14.2 million in Q1 of 2021, reflecting the inclusion of stand-alone public company expenses in the 2022 period. Net income attributed to the company for the first quarter of 2022 was $6.5 million.