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Zillow Group (ZG) guidance and outlook

Zillow Group (ZG) gave its guidance on Nov 4, 2026: EBITDA $165M for FY2026. Zillow Group's 10-Q filed Nov 4, 2026 makes 12 forward-looking statements.

Guidance and outlook

Latest guidance

From the earnings release filed Nov 4, 2026 (8-K on EDGAR).

Forward-looking statements, 10-Q filed Nov 4, 2026

• We expect Mortgages revenue to decrease in absolute dollars during the three months ending December 31, 2026, primarily due to higher mortgage interest rates and the impact of seasonality on the residential real estate market.
• We expect Residential revenue to decrease in absolute dollars during the three months ending December 31, 2026, primarily due to the impact of seasonality on the residential real estate market and as we continue to scale our Zillow Preferred model resulting in a continued shift in revenue from Residential to Mortgages as we bring the integrated transaction to more consumers.
• • Adjusted EBITDA does not reflect the ZO securities class action settlement, net of expected insurance recoveries, which we do not believe is reflective of our ongoing operating performance.
• (2) Beginning with the three months ended September 30, 2026, we calculate and report Adjusted EBITDA excluding the ZO securities class action settlement, net of expected insurance recoveries, which we do not believe is reflective of our ongoing operating performance.
• We expect cost of revenue to decrease in absolute dollars during the three months ending December 31, 2026, primarily due to the impact of seasonality on our business.
• Our gross profit has and will continue to be affected by a number of factors, including the mix of revenue from our various product offerings.
• We expect general and administrative expenses to decrease in absolute dollars during the three months ending December 31, 2026, primarily due to the ZO securities class action settlement costs, net of expected insurance recoveries, recorded in the third quarter of 2026.
• We believe we will meet longer-term expected future cash requirements and obligations through a combination of cash flows from operations, debt financing, including the Revolving Credit Facility, and equity offerings, as applicable.
• Restructuring Payments - We expect to make future cash payments of approximately $11 million related to the employee termination costs incurred as a result of the reduction in headcount announced on August 4, 2026.
• We expect these additional cash payments to be made primarily during the three months ending December 31, 2026.
• Legal Obligations - On October 27, 2026, we entered into the Settlement Agreement to resolve the ZO securities class action for $212.5 million, and we expect insurance recoveries of $48 million in connection with this matter.
• We expect to fund the settlement within the next 12 months.

Zillow Group's latest quarter

Questions

Did Zillow Group raise or lower its guidance?

Zillow Group (ZG) gave its guidance on Nov 4, 2026: EBITDA $165M for FY2026.

What does Zillow Group expect?

We expect Mortgages revenue to decrease in absolute dollars during the three months ending December 31, 2026, primarily due to higher mortgage interest rates and the impact of seasonality on the residential real estate market. We expect Residential revenue to decrease in absolute dollars during the three months ending December 31, 2026, primarily due to the impact of seasonality on the residential real estate market and as we continue to scale our Zillow Preferred model resulting in a continued shift in revenue from Residential to Mortgages as we bring the integrated transaction to more consum

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.