REA Group (REA) Q3 2026 earnings summary

Executive summary

• Q3 FY26 revenue from core Australian operations rose 11% year-over-year to AUD 398 million, with EBITDA up 16% to AUD 220 million, both excluding M&A impacts.

• Residential revenue grew 12% in Q3, driven by a 14% increase in Buy yield and modest listing growth.

• Commercial, New Homes, and Financial Services segments all delivered double-digit revenue growth, with Financial Services settlements up 21%.

• Achieved record audience engagement, with 12.9 million average monthly visitors, 2.6 million buyer enquiries, and a 16% increase in properties tracked by owners year-over-year.

• Launched new AI-powered features, including conversational search, iGUIDE, and campaign tools, driving innovation and customer engagement.

Financial highlights

• Group revenue for Q3 increased 11% year-over-year to AUD 398 million, with operating expenses up 5% to AUD 178 million.

• Group EBITDA rose 16% to AUD 220 million, excluding associates; including M&A, revenue and EBITDA increased 6% and 11%, respectively.

• Free cash flow for Q3 was AUD 135 million, up 2% year-over-year, with growth lagging EBITDA due to working capital timing.

• EBITDA margin (excluding associates) for Q3 was 55.3%; free cash flow margin was 33.9%.

• Nine months revenue reached AUD 1,314 million, up 8% year-over-year excluding M&A.

Outlook and guidance

• Buy yield expected to grow 13% for FY26; listings forecast unchanged at a 1%-3% decline for the year.

• April listing volumes up 19% year-over-year, with Melbourne up 20% and Sydney up 25%.

• Operating cost growth guidance improved to low to mid-single digits for the group and mid to high single digits for Australia.

• For FY27, price increase set at approximately 8%; Luxe bundle expected to be the main additive to yield.

• Positive operating jaws expected for both Australia and the Group.