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Mar 31
Newmark Q1 2025 Earnings Report
Newmark reported robust growth and strong operating performance in the first quarter of 2025, with significant increases in revenues and key financial metrics.
Key Takeaways
Newmark Group, Inc. announced strong first-quarter 2025 financial results, with total revenues increasing by 21.8% year-over-year to $665.5 million. The company saw double-digit gains across all major business lines, driven by increased activity in leasing and capital markets, and continued growth in recurring revenue businesses. Net income improved significantly, and adjusted earnings per share also saw a substantial increase.
Total revenues increased by 21.8% to $665.5 million, reflecting robust growth across all major business lines.
GAAP net income (loss) for fully diluted shares improved by 46.1% to $(8.8) million, and GAAP EPS improved by 44.4% to $(0.05).
Post-tax Adjusted Earnings to fully diluted shareholders increased by 45.2% to $54.3 million, with Adjusted EPS up 40.0% to $0.21.
Adjusted EBITDA grew by 40.5% to $89.2 million, indicating strong operating performance.
Newmark
Newmark
Newmark Revenue by Segment
Revenue by Segment
Management Services, Servicing, and Other Revenue
CapyFin.comLeasing and Other Commissions Revenue
CapyFin.comCapital Markets Revenue
CapyFin.com Forward Guidance
Newmark's full-year 2025 guidance remains unchanged, anticipating continued recovery in industry leasing and capital markets activity and solid growth in Management and Servicing businesses.
Positive Outlook
- Anticipated total revenues between $2.9 billion and $3.1 billion, representing 6% to 13% year-over-year growth.
- Expected Adjusted Earnings Per Share between $1.40 and $1.50, a 14% to 22% increase.
- Projected Adjusted EBITDA between $495 million and $545 million, an 11% to 22% increase.
- Targeted annual share count growth of 2% or less over time.
- Continued recovery in industry leasing and capital markets activity.
Challenges Ahead
- Guidance is largely dependent on the macroeconomic environment.
- Ongoing uncertainty with respect to tariffs and interest rate volatility.
- Potential geopolitical headwinds may dampen industry activity.
- Excludes future proceeds from the previously disclosed settlement agreement related to stockholder derivative litigation.
- Certain GAAP items are difficult to forecast with precision, making quantitative reconciliation to non-GAAP forecasts challenging.