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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Douglas Elliman
Douglas Elliman (DOUG) investor relations material
Douglas Elliman Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary7 Aug, 2026
Executive summary
Q2 2026 revenues increased to $283.4M, up 4–4.5% year-over-year, driven by strong brokerage income in Florida and the Northeast, with international expansion into Paris and domestic growth in New Hampshire and Georgetown.
Net loss for Q2 2026 narrowed to $2.7M from $22.7M in Q2 2025, reflecting higher gross profit, lower operating expenses, and the sale of the property management business.
Strategic initiatives included an AI transformation, the launch of Elius (a proprietary real estate intelligence business), and Elliman Capital's expansion into California and Texas.
Continued to attract top luxury agents, expanded the French network to 15 offices, and received industry recognition for agent performance.
Gross transaction value for Q2 2026 was $10.8B, with an average price per transaction of $1.86M.
Financial highlights
Q2 2026 revenues were $283.4M, up from $271.4M in Q2 2025; excluding disposed property management business, revenues rose 8.6% year-over-year.
Q2 2026 net loss narrowed to $2.7M ($0.03/share) from $22.7M ($0.27/share) in Q2 2025, which included a $17M non-cash interest expense.
Adjusted EBITDA loss for Q2 2026 was $986,000–$1.0M, improved from a $3.6M loss in Q2 2025.
Six-month 2026 revenues were $497.8M, down 1.4–5% year-over-year excluding property management; net loss was $19M ($0.22/share), improved from $28.7M ($0.34/share) in 2025.
Gross profit for Q2 2026 was $59.2M, with gross margin at 20.9%, down from 21.6% in Q2 2025.
Outlook and guidance
AI transformation expected to deliver significant cost savings in non-commission operating expenses starting in 2027.
Commission income from a $26.1B development marketing pipeline, with $9.7B more coming to market by September 2027, to be recognized between 2026 and 2032.
Management expects current cash and anticipated operating cash flows to be sufficient for liquidity needs over the next twelve months.
The company continues to evaluate strategic transactions, including acquisitions and capital structure revisions.
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Latest events from Douglas Elliman
- Q1 2026 revenue dropped 15% with a $16.3M net loss, but luxury market expansion continued.DOUG
Q1 2026 - Votes will be held on director elections, auditor ratification, and executive compensation.DOUGProxy filing
- Director elections, auditor change, and executive pay alignment headline the annual meeting.DOUGProxy filing
- 2025 net income rebounded to $15.2M on $1.033B revenue, driven by strategic realignment.DOUGQ4 2025
- Registering 40.85M shares for resale from $50M convertible notes, no proceeds to company.DOUGRegistration Filing
- Revenue up 5% Y/Y, net loss and adjusted EBITDA improved, balance sheet strengthened.DOUGQ3 2025
- Revenue up, net loss widened on one-time charges; cost cuts and expansion plans underway.DOUGQ3 2024
- Q2 revenue rose, net loss narrowed, and adjusted EBITDA turned positive amid ongoing headwinds.DOUGQ2 2024
- Q4 2024 revenue and profitability improved, with strong liquidity and positive 2025 momentum.DOUGQ4 2024
Next Douglas Elliman earnings date
Q3 202610 Nov, 2026
Douglas Elliman
Next Douglas Elliman earnings date
Q3 202610 Nov, 2026
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Frequently asked questions
Douglas Elliman Inc provides residential real estate brokerage services in the United States. The company offers property sales, rentals, and related services through a network of agents, with operations focused on key metropolitan markets. It also provides real estate development marketing and property management. The company is headquartered in Miami, Florida, and its shares are listed on the NYSE.