Newmark Group (NMRK) investor relations material

Executive summary

• Achieved seventh consecutive quarter of double-digit revenue growth and eighth consecutive quarter of double-digit earnings improvement, with record first quarter consolidated revenues of $846.5M, up 27.2% year-over-year, and broad-based gains across Management Services, Leasing, and Capital Markets.

• Adjusted EPS increased 57.1% to $0.33, and GAAP net income for fully diluted shares was $19.6M, reversing a prior year loss.

• Post-tax Adjusted Earnings rose 53.5% to $83.4M; Adjusted EBITDA grew 35.8% to $121.2M, with margin expanding by 91bps.

• Record first quarter revenues across management services, leasing, and Capital Markets, with successful integration of recent acquisitions and strong international expansion.

• Share repurchases totaled 10.4M shares at $14.58 average price; $248.9M remains under repurchase authorization.

Financial highlights

• Total revenues reached $846.5M, up 27.2% from $665.5M year-over-year; GAAP net income was $19.6M versus a loss of $8.8M prior year.

• Adjusted EBITDA was $121.2M, up 35.8% year-over-year, with margin at 14.3% (up 91bps); Adjusted Free Cash Flow up 111.7% to $361.5M (TTM).

• Post-tax Adjusted Earnings were $83.4M, up 53.5% year-over-year; Adjusted EPS was $0.33, up 57.1%.

• Dividend declared at $0.06 per share, doubling year-over-year and marking the first increase since 2022.

• Cash flow from operations increased 186.1% on a trailing twelve-month basis.

Outlook and guidance

• Raised full-year 2026 revenue guidance to $3.775–$3.875B, up 15–18%; Adjusted EBITDA expected at $656–$694M, up 17–23%; Adjusted EPS forecasted at $1.87–$1.98, up 15–22%.

• Over 90% of 2026 earnings growth expected to be organic.

• Capital Markets growth expected above midpoint, Management/Servicing in line, Leasing below midpoint due to tough comps.

• Guidance assumes no major acquisitions or significant stock price changes.

• Targets double-digit top- and bottom-line growth for the third consecutive year.