Douglas Elliman Board Authorizes Up to $10 Million in Share Buybacks

Douglas Elliman Inc.'s board authorized a program to repurchase up to $10 million in common stock, while the company expects to begin gradually realizing AI-related expense efficiencies in 2027.

The authorization sets a limit for potential share purchases; it does not require Douglas Elliman to complete any repurchases.

The board action follows the company's third-quarter results. Douglas Elliman recorded net income of $7.4 million, or $0.08 per diluted common share, compared with a net loss of $24.7 million, or $0.29 per diluted common share, in the year-earlier quarter.

Revenue totaled $252.1 million, down 4.1% in the reported year-over-year comparison. That comparison includes property-management revenue from the prior-year period. Excluding that business, the decline was about 0.5%, based on prior-year revenue of $253.4 million.

The company expects its AI transformation to drive savings over the next three years. It expects efficiencies in non-commission operating expenses to begin gradually in 2027.