Realogy +7.1% after Q2 beats; cost-cutting on track

• Realogy Holdings (NYSE:RLGY) jumps 7.1% after Q2 adjusted EPS of 83 cents exceeds the consensus of 82 cents.
• Compares with $1.00 in the year-ago quarter.
• Sees 2019 operating EBITDA of $590M-$610M.
• Q2 operating EBITDA of $245M fell 11% from $276M a year earlier.
• Tracking to achieve $70M of realized cost savings with 60% of actions already completed toward this target; through Q2, $22M of cost savings identified for 2019 have been realized through the income statement.
• Q2 revenue of $1.74B, beating consensus of $1.73B, fell 5% Y/Y from $1.82B a year earlier.
• RFG closed homesale sides of 301,377 fell 4% Y/Y; average homesale price of $318,799 rose 2% Y/Y.
• NRT closed homesale sides of 95,251 fell 5% Y/Y; average homesale price of $540,725 rose 1% Y/Y.
• Previously: Realogy EPS beats by $0.01, beats on revenue (Aug. 8)