Compass Q2 Revenue Beats by 5.4%, Raises Synergy Targets, Guides Q3 Above Street
COMP has more than doubled off its 52-week low of $6.37.
Summary
Compass reported Q2 2026 revenue of $4.31B, beating consensus by 5.4%, with record Adjusted EBITDA of $363M. The company raised its Year 1 synergy target to $330M and guided Q3 revenue above expectations.
Key Events · Earnings and Guidance · COMP
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Q2 Revenue Beat
Revenue of $4.31B grew 14% YoY pro forma, exceeding the $4.09B consensus by 5.4%.
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Record Adjusted EBITDA
Adjusted EBITDA reached $363M, an all-time Q2 record, with margin expanding to 8.4% from 6.1% a year ago.
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Synergy Target Raised
Year 1 net cost synergy target increased to $330M from $300M, with $220M expected to be realized in 2026.
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Strong Cash Generation
Operating cash flow was $191M, free cash flow $180M, and cash balance rose $210M QoQ to $694M.
Analysis · COMP · Real Estate & Construction
A standout quarter for Compass saw revenue of $4.31B beat consensus by 5.4% and Adjusted EBITDA hit a Q2 record of $363M. The Year 1 synergy target from the Anywhere acquisition was raised to $330M, five months ahead of plan, with $220M now expected to be realized in 2026. Cash jumped to $694M, and management reiterated plans to redeem $500M in 9.75% notes when callable in Q2 2027. Q3 guidance of $3.85B-$4.05B in revenue and $275M-$305M in Adjusted EBITDA suggests continued momentum. The results validate the Anywhere integration and show durable profitability even in a muted housing market.
At the time of this filing, COMP was trading at $13.49 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $9B. The 52-week trading range was $6.37 to $13.96. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.