Newmark reports Q4 adjusted EPS 68c, consensus 66c

Reports Q4 revenue $1.006B, consensus $1B. The company said, “Our revenue-generating headcount in the U.S. was up modestly year-over-year. Therefore, our strong growth in U.S. revenues across Leasing, Capital Markets and V&A was primarily due to productivity gains. While international headcount and non-U.S. office presence grew by double digits, most recent international hires have not yet generated meaningful revenue. As our non-U.S. operations ramp, we expect that they will have a positive margin contribution which will aide our consolidated profitability.”