Douglas Elliman Posts Annual Revenue Decline For 2022

It’s earnings report season for the real estate industry—and we’re keeping you up to date on all the latest numbers!

Douglas Elliman has released both its quarterly and annual numbers, which shows moderate declines across the board. According to the company’s earnings statement, fourth quarter 2022 revenues were $207.3 million, compared to revenues of $334.2 million in the fourth quarter of 2021. The company recorded an operating loss of $21.9 million in the fourth quarter of 2022, compared to operating income of $19.2 million in the fourth quarter of 2021.

Net loss attributed to Douglas Elliman for the fourth quarter of 2022 was $18.4 million, compared to net income of $20.2 million in the fourth quarter of 2021.

For the year ended December 31, 2022, revenues were $1.15 billion, compared to revenues of $1.35 billion for the year ended December 31, 2021. The company recorded operating loss of $4.5 million for the year ended December 31, 2022, compared to operating income of $102.1 million for the year ended December 31, 2021. 

Net loss attributed to Douglas Elliman for the year ended December 31, 2022 was $5.6 million, compared to net income of $98.8 million.

“Douglas Elliman’s team of world class agents met the challenges of the fourth quarter, which was marked by limited listing inventory and significantly increased mortgage rates,” said Howard M. Lorber, Chairman and Chief Executive Officer of Douglas Elliman. “The strength of Douglas Elliman’s balance sheet, global network of leading agents and luxury brand positions us to take advantage of opportunities as real estate markets stabilize. We remain confident that the Company’s differentiated platform and approach will enable us to deliver continued growth over the long term.”