Anywhere Real Estate sees $120M in cost savings in 2024

“The company is expecting to realize $120 million in cost savings in 2024. The company expects its Free Cash Flow excluding one-time items to be approximately $100 million in 2024. The one-time items are estimated to be approximately $60 million, and consist of a $20 million payment towards our antitrust litigation settlement and approximately $39 million for a 1999 Cendant legacy tax matter. The antitrust litigation settlement totaled $83.5 million, $10 million of which was paid in the fourth quarter of 2023 and $20 million of which was paid in the second quarter of 2024. The remaining $53.5 million will be due when appeals are resolved, the timing of which is uncertain. We currently expect the payment to occur no earlier than mid-2025. The approximately $39 million 1999 Cendant legacy tax matter will be due once statutory notice is received, which we have assumed will occur in 2024.”