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CoStar Group (CSGP)
NASDAQ:CSGP
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.22Last Year’s EPS
$0.33Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: -7.06%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Neutral
CoStar Group demonstrated strong performance in core segments with consistent revenue growth and high renewal rates, despite facing challenges in sales productivity and declines in specific revenue streams. The company's strategic investments in new product launches and expansion of the sales force are expected to drive future growth.Company Guidance
During the CoStar Group's Q3 2024 earnings call, key financial metrics were highlighted, including a 11% year-over-year revenue growth, reaching $693 million, marking the 54th consecutive quarter of double-digit growth. The company achieved a net income of $53 million and adjusted EBITDA of $76 million, surpassing guidance ranges. CoStar's core businesses, including CoStar and Apartments, demonstrated strong performance with revenue increases of 10% and 16%, respectively. The commercial information and marketplace businesses maintained robust profit margins of 43%. Unique monthly visitors to the company's global websites rose to 163 million, showing a 28% year-over-year increase. The company also emphasized the expansion of its sales force and the successful launch of new products, such as Homes.com, which contributed to significant sales increases despite initial challenges in sales force productivity.Consistent Double-Digit Revenue Growth
CoStar Group reported a third quarter 2024 revenue of $693 million, marking an 11% increase year-over-year and the 54th consecutive quarter of double-digit growth.
Strong Performance in Core Segments
CoStar and Apartments, two of CoStar Group's billion-dollar businesses, grew revenue by 10% and 16% respectively. The multifamily segment is on track for 17% revenue growth in 2024.
Increase in Unique Visitors
The average monthly unique visitors to CoStar's global websites reached 163 million in Q3 2024, up 28% year-over-year.
High Renewal Rates
CoStar's commercial real estate business maintained a 93% renewal rate in Q3 2024. Apartments.com had a 92.6% renewal rate.
Launch of New Products
CoStar launched new products for institutional clients and achieved significant growth in the lender product, with a 36% increase since Q3 2023.
Strong Financial Position
CoStar Group maintains a strong balance sheet with $4.9 billion in cash and a net interest income of $56 million.
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CSGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CSGP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $76.87 | $72.82 | -5.27% |
| Jul 23, 2024 | $74.84 | $76.35 | +2.02% |
| Apr 23, 2024 | $84.62 | $91.95 | +8.66% |
| Feb 20, 2024 | $81.24 | $83.98 | +3.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does CoStar Group (CSGP) report earnings?
CoStar Group (CSGP) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is CoStar Group (CSGP) earnings time?
CoStar Group (CSGP) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CSGP EPS forecast?
CSGP EPS forecast for the fiscal quarter 2024 (Q4) is $0.22.
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