Douglas Elliman Inc. - DOUG STOCK NEWS

Douglas Elliman Realty has announced a multi-year deal with The Altman Brothers, a leading real estate team in Los Angeles, known for their high-profile sales. The team has achieved over $3.6 billion in transactions since 2021, including $2.5 billion in the last two years alone, averaging $100 million monthly. The Altman Brothers, consisting of Josh, Matt, and Heather Altman, have been recognized for their exceptional performance, including winning Douglas Elliman's number one "large team" award in 2023. This partnership is expected to further enhance their market presence, with plans for a new flagship office in Corona Del Mar.

Douglas Elliman Inc. (NYSE: DOUG) announced a regular quarterly cash dividend of $0.05 per share, set to be paid on March 31, 2023, to shareholders of record as of March 23, 2023. This announcement reflects the company's ongoing commitment to returning value to shareholders amid its operations as one of the largest residential brokerage firms in the United States, with a strong presence in key markets including New York City and California. The company's strategy also involves investments in early-stage property technology solutions, positioning it for future growth.

Douglas Elliman Inc. (NYSE:DOUG) reported disappointing financial results for Q4 and the full year 2022. Consolidated revenues fell to $207.3 million in Q4, down from $334.2 million in Q4 2021, and $1.15 billion for the year, compared to $1.35 billion in 2021. The company faced an operating loss of $21.9 million in Q4 and $4.5 million for the year, a stark contrast to prior year profits. Net loss for Q4 was $18.4 million ($0.24 per share), compared to net income of $20.2 million in Q4 2021. Adjusted EBITDA also declined significantly, indicating a challenging market environment.

Douglas Elliman Inc. (NYSE: DOUG) will host a conference call and webcast on March 10, 2023, at 8:00 a.m. ET to discuss its fourth quarter and full-year 2022 results.

Participants can pre-register via the provided link and will receive a calendar reminder and access details via email. Those who prefer not to pre-register can join the live webcast at least 10 minutes prior to the start time.

A replay of the call will be available from March 10 to March 24, 2023. Additional information about Douglas Elliman is accessible on their website.

Vector Group Ltd. reported record annual tobacco segment revenues, achieving consolidated revenues of $1.44 billion for 2022, up 18.0% year-over-year. Fourth-quarter results showed revenues of $363.8 million, a 16.0% increase compared to the same period last year. Operating income in 2022 was $339.0 million, while fourth-quarter operating income rose to $89.3 million. However, tobacco segment operating income declined 3.7% for the year, reflecting investments in the Montego brand's growth. The company continues to optimize its profit strategy in 2023, focusing on managing volume and market share.

Douglas Elliman Realty announced the promotion of Deva Roberts to Executive Vice President and General Counsel, succeeding Kenneth Haber, who will transition to a business advisory role as Senior Managing Director. Roberts joined Elliman in January 2022, bringing over a decade of litigation experience from Kasowitz Benson Torres LLP. Executive Chairman Howard M. Lorber and CEO Scott Durkin expressed confidence in Roberts' abilities, highlighting her role in the company’s growth trajectory. Douglas Elliman is a leading residential brokerage in the U.S., operating in multiple states and involved in innovative property technology solutions.