Newmark (NMRK) Q2 2022 Earnings Results
Jul 30th, 2022 17:59 EST
- Newmark Group, Inc. (NASDAQ: NMRK) recently announced its Q2 2022 earnings results. These are the details.
Newmark Group, Inc. (NASDAQ: NMRK) recently announced its Q2 2022 earnings results. These are the details.
Q2 2022 Highlights:
— Record second quarter total revenues of $755.4 million, up 19.9%.
— Best-ever second quarter revenues from management services, servicing fees, and other, which improved 6.5% to $233.7
million, and 30.1% on a fee-revenue basis.
— Record second quarter revenues from leasing and other commissions of $212.8 million, up 15.4%.
— 47.0% improvement in revenues from investment sales and 19.1% increase from commercial mortgage origination, net.
— Highest-ever second quarter Adjusted EBITDA of $159.5 million, up 32.2%.
— Repurchased 11.4 million shares during the quarter and reduced fully diluted weighted-average share count by 9.3% yearon-year to 248 million
— In terms of guidance, Newmark Group expects FY 2022 revenue of between $3 billion and $3.1 billion.
“Newmark generated its fifth consecutive quarter of record revenues. We continued to gain market share across our increasingly diverse business lines and geographies while delivering exceptional value to our clients. We remain in a strong financial position as we continue to generate significant cash flow, expand our global footprint, hire top-tier professionals, acquire companies, pay dividends, and repurchase our stock.”
“Newmark has been the fastest growing commercial real estate services company for the past decade, and we expect to continue our industry outperformance through 2025. We remain confident in our 2022 outlook, despite near-term macroeconomic headwinds, and in our 2025 targets, which include generating $4.5 billion of total revenues and $900 million of Adjusted EBITDA.”
— Barry M. Gosin, Chief Executive Officer of Newmark