NASDAQ$NMRK
Newmark Group Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Newmark's revenue increased, driven by double-digit gains across all revenue categories and significant market share gains in capital markets and leasing, highlighted by the completion of the Signature portfolio sale.
Newmark reported a strong fourth quarter with a 23.1% increase in total revenues compared to the year-earlier period, driven by double-digit gains in all revenue categories. The company highlighted significant market share gains in leasing and capital markets, including contributions from the Signature transactions. The company anticipates industry volumes accelerating throughout the second half of 2024 and expects significant earnings outperformance towards the end of the year and into 2025.
- Newmark's revenues increased by over 23% in Q4, with double digit gains in every revenue category.
- The company completed the more than $50 billion Signature portfolio sale.
- Newmark grew revenues from Leasing and other commissions by 19.6% year-on-year, exceeding industry declines.
- Newmark gained significant market share in capital markets and grew revenues from Investment sales and Commercial mortgage origination, net, by 20.7% and 45.9%, respectively.
Headline financials
Revenue & EPS history
Newmark · Revenue · Quarterly
$747M
Revenue by segment
Newmark · $241M total across 1 segment · Q2 2023
- Management Services$241M+3.0%100.0%
Forward guidance
Newmark expects a majority of its year-over-year improvement in earnings to occur in the second and third quarters of 2024. The company expects Fully diluted weighted-average share count for Adjusted Earnings to grow by 2% in 2024 and continues to target average annual net growth 2% or less over time.
Tailwinds
- Total Revenues (millions): 3% to 7% Expected YoY Change
- Adjusted EBITDA (millions): 5% to 9% Expected YoY Change
- Adjusted Earnings Per Share: 5% to 9% Expected YoY Change
- Adjusted Earnings Tax Rate: 16% to 18%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+0.3%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.9%
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 | -0.8% | -6.1% | — | |
| 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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