EXPI

[Retirementdough]

https://expworldholdings.com/2020/10/27/exp-world-holdings-a…

BELLINGHAM, Wash. — October 27, 2020 — eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty and VirBELA, today provided preliminary unaudited financial and operational results for the third quarter ended September 30, 2020.

eXp World Holdings Preliminary Third Quarter 2020 Highlights (the financial information below is subject to change and could be different when earnings are released):

The number of agents and brokers on the eXp Realty platform increased 56% to 35,877 at the end of the third quarter of 2020, compared to 23,034 a year ago.

Residential transaction sides closed for the third quarter of 2020 increased 95% to 75,392, compared to 38,567 during the third quarter of 2019.

Residential transaction volume closed for the third quarter of 2020 increased 112% to $23.6 billion, compared to $11.1 billion during the third quarter of 2019.

eXp Realty ended the third quarter with a 73 agent Net Promoter Score, which measures agent satisfaction, as compared to 61.eXp Realty continues to maintain a Glassdoor rating of 4.6 placing it close to the top of all large companies in terms of culture and collaboration.

VirBELA revenue grew more than 360%.

International expansion continues with the launch of South Africa, with near-term plans to expand into additional key international markets.

EXPI came out today with some preliminary announcements ahead of earnings. Stock is up 13% as of writing this.

[clydejaz]

Very nice results for EXPI.

This begs the question, why would they pre-announce earnings - what is the motivation for this?

They didn’t miss like FLSY and as far as we know they are not acquiring anyone or being acquired.

I looked back and they did not pre-announce their record setting 2Q results although they did pre-announce Q1 and they did pre-announce Q3 2018.

Is there a motivation beyond just the marketing PR machine?

If they only had better GM’s this would be a popular stock on this board.

FYI - I found a survey that analyzed 59 companies that pre-announced and gave the following reasons for pre-announcing:

37% explicitly stated that they were issuing preliminary results because they were updating their previous guidance
19% had not provided guidance, but our research showed us that they had missed or beaten analyst expectations and were presumably providing a warning to the Street
17% preannounced in conjunction with an acquisition announcement
12% issued the release prior to an investor event (conference presentation, 9%; investor day, 3%)
The remaining 5% of the sample offered no information as to the catalysts behind the release.

Just curious as the last pre-announcement (FLSY) was painful.