Compass guided third-quarter consolidated revenue to $3.85 billion to $4.05 billion and adjusted EBITDA to $275 million to $305 million, while also expecting positive free cash flow. The company reported second-quarter revenue of $4.3 billion, exceeding the high end of its guidance range, and adjusted EBITDA of $363 million. Founder and CEO Robert Reffkin said year-one net cost synergies have been actioned five months ahead of plan, with the target now raised to $330 million from $300 million. CFO Scott Wahlers noted that free cash flow was $180 million for the quarter, and cash on hand increased by $210 million quarter-over-quarter to $694 million. For the full year, non-GAAP operating expense guidance was raised to $2.75 billion to $2.80 billion, partly due to a recent brokerage acquisition.
Compass IncCompany raises guidance and reports strong Q2 results
Compass Group PLC
Beijing Compass Technology Develop