Newmark reports Q1 adjusted EPS 21c, consensus 19c

Reports Q1 revenue $665.5M, consensus $606.14M. CEO Barry Gosin said, “We are pleased to report another successful quarter, demonstrating robust growth and strong operating performance, which underscores our strategic vision and commitment to delivering value to our clients and stakeholders. Our exceptional talent and industry-leading insight led to a 22% increase in revenues, reflecting another quarter of double-digit gains across every major business line. We continue to grow our platform in nearly all verticals and geographies, including expanding services across our recurring revenue businesses. We have built a platform that is engineered to excel. Given our deep relationships with clients and the strength of our brand, we anticipate further market share gains over time. We recognize, however, that there are potential geopolitical headwinds that may have a dampening effect on industry activity. Despite recent market turbulence, we are excited to come to work every day to continue this odyssey of building on the foundation we have created for a scalable and sustainable enterprise.”