Compass (COMP) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Compass published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Compass completed its merger with Anywhere Real Estate on January 9, 2026, so the year-ago quarter is Compass alone. On a pro forma basis, as if the two had been combined, Q3 2025 revenue was $3,493 million and Q3 2026 revenue grew 11.6%.
• Compass reports no adjusted EPS. Its main non-GAAP profit measure is adjusted EBITDA, $306 million in Q3 2026 against $94 million a year earlier.

Source: Compass Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Compass splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Compass's Brokerage revenue was $3.6 billion in Q3 2026, up 99% from $1.8 billion in Q3 2025, 92% of total revenue.
• Compass's Franchise revenue was $122 million in Q3 2026, up 1425% from $8.0 million in Q3 2025, 3% of total revenue.
• Compass's Integrated Services revenue was $197 million in Q3 2026, up 447% from $36.0 million in Q3 2025, 5% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Compass said:

“Revenue of $3.150 billion to $3.350 billion for Q4”

“Adjusted EBITDA of $100 million to $130 million for Q4”

“Non-GAAP OPEX of $2.71 billion to $2.73 billion, reflecting a decrease from the prior range of $2.75 billion to $2.80 billion”

“Free cash flow positive for the full year 2026”

Source: Compass Q3 2026 earnings release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the COMP forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Quarters before Q1 2026 are Compass alone; the Anywhere Real Estate merger closed on January 9, 2026.

We do not hold a confirmed date for Compass's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Compass now reports three segments. Brokerage, the commissions earned by agents at its owned brokerages, brought in $3,578 million of Compass's $3,897 million in Q3 2026 revenue. Franchise, mainly royalties and marketing fees from independently owned brokerages using brands such as CENTURY 21, Coldwell Banker and Sotheby's International Realty, added $122 million. Integrated Services, which covers title, escrow and the Cartus relocation business, added $197 million. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Compass Form 10-Q, Q3 2026, Nov 6, 2026)

Revenue rose 111% from $1,846 million a year earlier because Compass completed its merger with Anywhere Real Estate on January 9, 2026. Against pro forma Q3 2025 revenue of $3,493 million, which treats the two as one company, revenue grew 11.6%, and organic revenue, which leaves out businesses neither company owned on July 1, 2025, grew 7.4% to $3.75 billion. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

On a pro forma basis Brokerage revenue grew 12.8%, which Compass's 10-Q attributes mainly to higher average selling prices at its owned brokerages. Brokerage gross transaction value was $138.9 billion on 140,118 transactions. Organic Brokerage GTV grew 7.5% while organic transactions fell 0.3%, against a 0.7% rise in GTV and a 1.8% fall in transactions for the whole U.S. residential market, per the National Association of Realtors. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Compass Form 10-Q, Q3 2026, Nov 6, 2026)

Pro forma Franchise revenue fell 6.9%, which Compass's 10-Q puts down to lower royalty revenue after it bought franchisees and turned them into company-owned offices. In Q3 2026 it acquired four Sotheby's International Realty franchisees for total consideration of $238 million. The net royalty rate per side was $486, down 27.4% from $669, which Compass says reflects newly acquired brands with lower average sale prices than the Christie's International Real Estate network. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Compass Form 10-Q, Q3 2026, Nov 6, 2026)

Compass's GAAP diluted EPS was $0.07 in Q3 2026, against a loss of $0.01 a year earlier, on net income of $62 million. Compass does not report an adjusted EPS. Its adjusted EBITDA of $306 million excludes $145 million of depreciation and amortization, $36 million of stock-based compensation, $28 million of Anywhere merger transaction and integration expenses and $41 million of interest expense. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

The merger raised Compass's interest and amortization costs. Interest expense rose to $41 million from $2 million, and depreciation and amortization to $145 million from $28 million. Compass ended Q3 2026 with $3,141 million of long-term debt and $841 million of cash, and net debt to adjusted EBITDA of 2.7x. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Compass's diluted share count was 862,547,977, against 565,895,221 a year earlier, after it issued shares in the Anywhere merger. Over the first nine months of 2026 it recorded a $400 million income tax benefit, mainly from reducing a valuation allowance on deferred tax assets because of deferred tax liabilities created by the merger and the franchise conversions. The Q3 2026 benefit was $4 million. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Compass Form 10-Q, Q3 2026, Nov 6, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Compass gives a next-quarter outlook in its release. For Q4 2026 it guided revenue of $3.150 billion to $3.350 billion and adjusted EBITDA of $100 million to $130 million. For the full year it cut its non-GAAP operating expense range to $2.71 billion to $2.73 billion, from $2.75 billion to $2.80 billion, and expects positive free cash flow. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Compass's Q3 2026 adjusted EBITDA of $306 million came in above the high end of its own guidance range, according to CEO Robert Reffkin, who credited operating expense discipline and cost synergies from the merger. CFO Scott Wahlers said Compass is in a position to redeem its $500 million 9.75% Notes when they are first callable in Q2 2027. (Compass Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Compass, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Compass's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning COMP is on is COMP a buy or a sell?, what analysts expect next is on the COMP forecast, and what the company does is on the Compass (COMP) stock page.

Every number on this page can be traced to a document Compass published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.