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Dec 31, 2024
Newmark Q4 2024 Earnings Report
Newmark's growth accelerated, generating double-digit top line improvement across all major business lines, with significant gains in Management and Servicing, Capital Markets, and Leasing. The company's pipeline remains robust, positioning it for continued revenue and earnings growth.
Key Takeaways
Newmark reported strong fourth-quarter results, driven by double-digit revenue growth across all major business lines. Management and Servicing grew by 21%, Capital Markets by 20%, and Leasing by 15%. The company's Capital Markets platform significantly outperformed the industry, expanding its market share.
Newmark's Management and Servicing grew by 21% year-over-year.
Capital Markets increased by 20% year-over-year, significantly outpacing the industry.
Leasing grew by 15% year-over-year, driven by strong double-digit growth in office leasing.
The company increased total Capital Markets volumes by 113.2%, excluding Signature transactions.
Revenue by Segment
Forward Guidance
Newmark anticipates continued growth in 2025, with revenue expected to range from $2.9 billion to $3.1 billion and Adjusted EPS between $1.40 and $1.50. The company targets an Adjusted EBITDA margin improvement and expects annual share count growth of 2% or less.
Positive Outlook
- Total Revenues (millions): $2,900 - $3,100 (5% - 13% YoY Change)
- Adjusted Earnings Per Share: $1.40 - $1.50 (14% - 22% YoY Change)
- Adjusted Earnings Tax Rate: 14% - 16%
- Adjusted EBITDA (millions): $495 - $545 (11% - 22% YoY Change)
- Approximately 110 basis point improvement in its full year Adjusted EBITDA margin as industry transactions continue to recover in 2025 and the Company's Management and Servicing businesses generate further solid growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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