Realogy Health Conference Call

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Realogy Health
RLGY
reported its quarterly earnings on Monday. Shares of the company are up five percent. Below are some key highlights from its conference call: Global, Growth, Results: • You will recall that our previous guidance for the second quarter transaction volume was a range of down 2% to plus 2% compared to the prior year's results. • Our free cash flow for the quarter was strong, a trend we fully expect to continue through year-end. • We expect to be well-positioned to call the remaining 7.785% debt in early 2015, which is currently about $330 million • Of course, the most exciting recent news is our planned acquisition of ZipRealty, which is expected to close during the third quarter. • Focusing on the green 2014 line, you can see the inventory levels were at 2.3 million units in June, which is up 22% from 1.9 million units in January. • Revenue of $1.5 billion was down 1% compared to the second quarter of 2013, driven by lower refinance volume at TRG. • The company generated $198 million of free cash flow during the quarter or $1.36 per share. • One other item of note on the income statement is the GAAP tax increased to $51 million in the second quarter compared to $9 million in the previous-year period.
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Posted In: EarningsNewsGuidance
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