Marcus & Millichap Q2 revenue rises on brokerage commission growth

Marcus and Millichap

06/08/2026 13:17

Overview
U.S. commercial real estate services firm's preliminary Q2 revenue grew 17.8% yr/yr
Adjusted EBITDA for preliminary Q2 rose sharply, reflecting improved operating income
Company repurchased shares and declared a semi-annual dividend for shareholders

Outlook
Company expects near-term market challenges to extend through 2026
Company cites interest rate uncertainty, inflation, and geopolitical risks as factors impacting 2026 outlook
Marcus & Millichap says it remains well-positioned for long-term growth despite current market volatility

Result Drivers
HIGHER TRANSACTION VOLUME - Co said brokerage commission revenue growth was primarily due to an 18.4% increase in total sales volume
MIDDLE AND LARGER MARKET GAINS - Revenue in middle market and larger transaction segments rose sharply, with middle market up 29.4% and larger transactions up 43.2%
HIGHER FINANCING FEES - Financing fee revenue grew due to a 5.4% increase in financing volume and a 10 basis point rise in average fee rate

Company press release: ID:nBwbdb5KSa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$202.92 mln
$194.30 mln (2 Analysts)
Q2 Net Income
 
$3.91 mln
 
Q2 Adjusted EBITDA
Beat
$12.10 mln
$3.50 mln (2 Analysts)
Q2 EBIT
 
$2.21 mln
 
Q2 Operating Expenses
 
$200.70 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy."
Wall Street's median 12-month price target for Marcus & Millichap Inc is $28.00, about 10.4% below its August 5 closing price of $31.24

Reuters Recommended Reads
Aug 5 - Cushman & Wakefield Q2 revenue rises on leasing strength, lifts 2026 profit growth target
Aug 6 - Walker & Dunlop Q2 revenue misses on greater mix of brokered transactions
Aug 4 - Compass Q2 revenue rises beats analyst estimates on cost synergies

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)