Compass Inc (NYSE:COMP)
$ 6 -0.03 (-0.5%) Market Cap: 3.05 Bil Enterprise Value: 3.35 Bil PE Ratio: 0 PB Ratio: 7.12 GF Score: 70/100

Compass Inc Robert Reffkin on 'Squawk on the Street', CNBC Call Transcript

Jan 09, 2023 / 03:00PM GMT
Release Date Price: $2.8 (+11.55%)
Morgan Brennan

Real estate company Compass is undergoing its third round of job cuts in under 1 year, aiming to be cash flow-positive by mid-2023. Joining us here at the NYSE on set, Robert Reffkin, Compass Co-Founder and CEO. Robert, great to have you back here.

Robert L. Reffkin
Compass, Inc. - Founder, Chairman & CEO

Glad to be here.

Questions & Answers

Morgan Brennan

Let's talk about the layoffs. Third round, what's involved? And how does this move you towards that cash flow-positive goal that you stated for the middle of this year?

Robert L. Reffkin
Compass, Inc. - Founder, Chairman & CEO

Yes. So we had announced expense reductions last week. I think it's worth noting, if we would have done that a year earlier, we would have been free cash flow-positive last year. And if the market would have grown last year as expected, we would have been free cash flow-positive. What happened is the Fed share came in and artificially reduced the revenue of our industry,

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