Key Highlights

  • CoStar Group (NASDAQ:CSGP) reports third-quarter results after the close on Tuesday, October 27, 2026, with consensus adjusted earnings of USD 0.34 per share, the top of its own USD 0.31 to USD 0.34 guidance.
  • Second-quarter revenue was USD 925 million, up 18%, and adjusted EBITDA, earnings before interest, tax, depreciation and amortisation with adjustments, was USD 184 million against USD 85 million a year earlier.
  • Third-quarter guidance calls for revenue of USD 935 million to USD 945 million and adjusted EBITDA of USD 190 million to USD 210 million, so the revenue step up from the second quarter is small.
  • Residential adjusted EBITDA turned positive at USD 12 million in the second quarter after a loss of USD 76 million a year earlier, making the Apartments.com margin path the central test.

The Setup: Consensus at the Top of Guidance

CoStar Group (NASDAQ:CSGP), the provider of commercial property data and the owner of the Apartments.com and Homes.com portals, is scheduled to report third-quarter 2026 results after the close on Tuesday, October 27, 2026. Consensus adjusted earnings are USD 0.34 per share. In its release of the second quarter, the company guided to USD 0.31 to USD 0.34, so the estimate sits at the upper edge of the range. Second-quarter adjusted earnings were USD 0.32 per share, up from USD 0.17, and GAAP diluted earnings were USD 0.14. Net income was USD 55 million, against USD 6 million a year earlier. Results cannot be known in advance.

Why Residential Margins and the Cost Base Matter

CoStar Group (NASDAQ:CSGP) earns subscription fees from commercial property data and rental listing advertising, and the investment case turns on how fast the residential segment stops consuming cash. Residential revenue was USD 444 million against USD 335 million, and its adjusted EBITDA improved by USD 41 million from the first quarter. Commercial real estate revenue was USD 481 million, led by CoStar at USD 337 million and LoopNet at USD 87 million. Net new bookings were USD 69 million, up 3% from the first quarter. The company said it cut its projected expense base by about USD 100 million against original guidance. Full-year guidance is revenue of USD 3.715 billion to USD 3.755 billion and adjusted earnings of USD 1.32 to USD 1.39 per share.

Risks and What to Watch

The bull case is adjusted earnings at or above USD 0.34 with revenue above the USD 935 million to USD 945 million range and a full-year outlook lifted toward the top of USD 780 million to USD 820 million of adjusted EBITDA, which would confirm the profit inflection and could lift the shares. The bear case is adjusted earnings of USD 0.31 or less, slower bookings or renewed residential spending, which would test a stock that fell after hours following the July report. Higher borrowing costs after the September 16 Fed increase also weigh on valuation. Investors should watch bookings, Apartments.com Ai adoption and any change in the expense plan, with the Fed decision due on Wednesday, October 28, 2026.

Where Things Stand

The answer is that CoStar Group (NASDAQ:CSGP) can reach USD 0.34 only if the residential recovery continues, because the estimate already sits at the top of its guided range. A modest beat may be absorbed, whereas a miss against such a tight band would carry weight. The next catalysts are the results after the close on Tuesday, October 27, 2026, the management call that follows, and the Federal Reserve decision on Wednesday, October 28, 2026. Guidance and consensus are estimates, not guarantees, and this is not investment advice.