TLDR
- Compass posted Q1 EPS of $0.03, beating the consensus estimate of -$0.21
- Revenue hit $2.70 billion, up 99% year-over-year, driven by the Anywhere acquisition
- Adjusted EBITDA of $61 million came in above the high end of guidance
- Cost synergy target for 2026 raised from $100 million to $200 million
- Q2 revenue guidance of $4.0–$4.2 billion tops analyst consensus of $3.93 billion
Compass (COMP) stock surged roughly 30% in premarket trading to $9.41 after the real estate brokerage posted a surprise first-quarter profit.
The company reported adjusted EPS of $0.03, against analyst expectations of a $0.21 loss. That’s a $0.24 beat — a number that caught Wall Street off guard.
Revenue came in at $2.70 billion, just above the $2.67 billion estimate. More striking, that figure represents a 99% jump year-over-year, compared to $1.36 billion in Q1 2025.
$COMP Q1’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $2.70B (Est. $2.67B) 🟢; +99% YoY
🔹 EPS: $0.03 (Est. $(0.21)) 🟢
🔹 Adj. EBITDA: $61M
🔹 Pro Forma Brokerage GTV: $98.7B; +7.3% YoY
🔹 Net Cost Synergies Actioned: Over $250MQ2 Guide:
🔹 Revenue: $4.0B-$4.2B (Est. $3.93B) 🟢
🔹 Adj.… pic.twitter.com/AL1SSwFZOF— Wall St Engine (@wallstengine) May 5, 2026
If COMP closes near premarket levels, it would mark the stock’s largest single-day percentage gain since May 2023, according to Dow Jones Market Data.
The Anywhere deal, which closed January 9, 2026, was the main driver behind the revenue spike. Anywhere’s portfolio includes Century 21, Coldwell Banker, and Corcoran.
CEO Robert Reffkin said the company was “maniacally focused” on integrating Anywhere during the quarter.
Synergy Targets Raised
That focus paid off. Compass actioned over $250 million in net cost synergies by April 1 — just 82 days after closing the deal.
As a result, management raised its 2026 realized cost synergy target from $100 million to $200 million. Around $130 million of that is expected through operating expense cuts, with the remaining $70 million coming from capital expenditure synergies.
The company also lifted its Year 1 actioned synergy target from $250 million to $300 million, and raised its total three-year target from $400 million to $500 million.
Adjusted EBITDA landed at $61 million, above the top of its own guidance range.
On a GAAP basis, Compass reported net income of $22 million, compared to a net loss of $51 million in the same quarter last year.
The company ended Q1 with $484 million in cash and $3.14 billion in long-term debt.
Q2 Guidance Tops Estimates
For Q2, Compass guided revenue of $4.0 billion to $4.2 billion, with a midpoint of $4.1 billion. That’s ahead of the analyst consensus of $3.93 billion.
Adjusted EBITDA guidance for the quarter came in at $310 million to $350 million.
Reffkin said the results reflect “continued OPEX discipline and healthy revenue growth” as the company operates as a newly combined entity for the first time.
The Q1 report is the first full earnings cycle since the Anywhere transaction closed, making it a closely watched data point for how well the integration is tracking.
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