Real estate franchise company RE/MAX (NYSE:RMAX) will be reporting earnings tomorrow after the bell. Here’s what to expect.

RE/MAX missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $72.47 million, down 5.4% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and EBITDA guidance for next quarter missing analysts’ expectations. It reported 146,627 agents, up 1.2% year on year.

Is RE/MAX a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting RE/MAX’s revenue to decline 6.1% year on year to $73.53 million, improving from the 8.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RE/MAX has missed Wall Street’s revenue estimates four times over the last two years.

Looking at RE/MAX’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CBRE delivered year-on-year revenue growth of 12.3%, beating analysts’ expectations by 0.6%, and Cushman & Wakefield reported revenues up 4.6%, topping estimates by 2.5%. CBRE’s stock price was unchanged following the results.

Read our full analysis of CBRE’s results here and Cushman & Wakefield’s results here.

The euphoria surrounding Trump’s November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.8% on average over the last month. RE/MAX is down 8.4% during the same time and is heading into earnings with an average analyst price target of $9.83 (compared to the current share price of $7.72).

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