NASDAQ$NMRK
Newmark Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Newmark reported an increase in revenue and double-digit earnings growth driven by growth across all business lines.
Newmark Group, Inc. reported positive financial results for the second quarter of 2024, with growth in all business lines. The company saw an 8% increase in total revenue and a significant rise in GAAP net income per fully diluted share and Adjusted EPS. The company reiterated its full year 2024 outlook for total revenues, Adjusted EBITDA, Adjusted EPS, and the Adjusted Earnings tax rate.
- GAAP net income per fully diluted share increased by 100.0% and Adjusted EPS improved by 22.2% due to 8.1% revenue growth.
- Capital markets revenue grew by 14.5%, outpacing the industry for the fourth consecutive quarter.
- Ranked as the #1 Office Broker in the U.S. for the first half of 2024 by Real Estate Alert, with over 30% market share.
- Management services, servicing fees, and other increased by 9.2%, marking the fourth consecutive quarter of year-on-year improvement.
Headline financials
Revenue & EPS history
Newmark · Revenue · Quarterly
$633M
Revenue by segment
Newmark · $241M total across 1 segment · Q2 2023
- Management Services$241M+3.0%100.0%
Forward guidance
Newmark reiterated its full year 2024 outlook for total revenues, Adjusted EBITDA, Adjusted EPS, and the Adjusted Earnings tax rate.
Tailwinds
- Total Revenues: Expecting a year-over-year change of 3% to 7%.
- Adjusted EBITDA: Expecting a year-over-year change of 5% to 9%.
- Adjusted Earnings Per Share: Expecting a year-over-year change of 5% to 9%.
- Adjusted Earnings Tax Rate: Expecting between 15% and 18%.
- Targeting annual share count growth of 2% or less over time.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.3%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.4%
Avg return
30 days after
39%
13 / 33 earnings
Positive
+20.1%
Q3 2023
Best reaction
-12.3%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | -6.0% | -13.3% | |
| Q4 2025 | -0.5% | -3.7% | -2.9% | |
| Q3 2025 | -3.1% | -8.7% | -9.4% | |
| Q1 2025 | -0.6% | +0.5% | -0.5% | |
| Q4 2024 | +6.3% | +5.1% | -10.3% | |
| Q3 2024 | +0.7% | +6.2% | +5.3% | |
| Q2 2024 | -9.5% | -7.4% | +8.6% | |
| Q1 2024 | +1.2% | +0.7% | +4.3% | |
| Q4 2023 | -1.0% | +3.7% | +5.1% | |
| Q3 2023 | +20.1% | +26.3% | +48.3% | |
| Q2 2023 | +1.5% | +10.3% | -3.4% | |
| Q1 2023 | -8.8% | -11.5% | +2.0% | |
| Q4 2022 | -4.8% | -10.0% | -25.1% | |
| Q3 2022 | -12.3% | -17.7% | -9.5% | |
| Q2 2022 | -7.4% | -10.8% | -11.3% | |
| Q1 2022 | -10.4% | -5.1% | -15.8% | |
| Q4 2021 | -3.7% | +7.4% | -6.0% | |
| Q3 2021 | +3.4% | +3.1% | +3.8% | |
| Q2 2021 | -2.4% | +2.2% | +0.0% | |
| Q1 2021 | +18.2% | +19.2% | +19.0% | |
| Q4 2020 | +14.7% | +17.3% | +24.2% | |
| Q3 2020 | +13.3% | +34.5% | +56.9% | |
| Q2 2020 | +5.2% | +12.9% | +2.4% | |
| Q1 2020 | +19.1% | +3.4% | +82.1% | |
| Q4 2019 | -5.0% | -6.1% | -45.5% | |
| Q3 2019 | +6.9% | +18.1% | +31.4% | |
| Q2 2019 | -4.5% | -10.9% | -12.0% | |
| Q1 2019 | -5.0% | -2.1% | +1.8% | |
| Q4 2018 | -3.9% | -3.9% | -16.7% | |
| Q3 2018 | +1.1% | -4.1% | -5.8% | |
| Q2 2018 | -4.7% | -1.2% | -7.1% | |
| Q1 2018 | -5.6% | -4.8% | -11.6% | |
| Q4 2017 | -7.8% | -6.4% | -8.6% | |
| Q2 2017 | — | — | — |
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