Newmark reports Q4 adjusted EPS 46c, consensus 47c

Reports Q4 revenue $747.4M, consensus $743.53M. CEO Barry Gosin commented, “Newmark’s revenues increased by over 23% in the quarter, with double digit gains in every revenue category. We completed the more than $50B Signature portfolio sale, the largest real estate loan sale in U.S. history. Q4 also saw Newmark close the year’s largest industrial lease, largest office occupier lease, and largest office building sale in the U.S. We anticipate industry volumes accelerating throughout the second half of 2024. Due to our strong incremental margins and our investments in talent, we expect significant earnings outperformance towards the end of the year and into 2025. We refuse to let complacency impede progress in this rapidly evolving industry, we champion the entrepreneurial spirit. If you’re great, you should definitely be at Newmark.”