Newmark Group, Inc. · NASDAQ:NMRK

Newmark — Q1 2026 Earnings Presentation

46 slides from Newmark's earnings presentation, Apr 30, 2026

  1. Slide 1: First Quarter 2026 Financial Results Presentation

    Newmark Group, Inc. (Nasdaq: NMRK) First Quarter 2026 Financial Results Presentation April 30, 2026 Property Type: Senior Housing NMRK.COM

  2. Slide 2: Disclaimers

    Disclaimers Discussion of Forward-Looking Statements References in this document to “we,” “us,” “our,” the “Company” and “Newmark” mean Newmark Group, Inc., and its consolidated subsidiaries. Statements in this document regarding Newmark that are not historical facts are "forward-looking statements"

  3. Slide 3: Table of Contents

    Table of Contents 04 Recent Consolidated Results & Company Overview 13 Outlook & Targets 15 GAAP Financial Results 20 Additional Information on Newmark 28 Additional Industry Information 30 Financial Tables & Reconciliations Property Type: Multifamily

  4. Slide 4: Recent Consolidated Results

    Recent Consolidated Results Highlights of Consolidated Results 1Q26 1Q25 Change (USD millions, except per share data) Total Revenues $846.5 $665.5 27.2% GAAP net income (loss) for fully diluted shares 19.6 (8.8) 323.7% GAAP net income (loss) per fully diluted share ("GAAP EPS") 0.08 (0.05) 260.0% Po

  5. Slide 5: Leading Commercial Real Estate Advisor and Service Provider

    Leading Commercial Real Estate Advisor and Service Provider Founded in 1929, Newmark is a global leader in commercial real estate services, seamlessly powering every phase of the property life cycle TTM Revenues TTM Transaction Volume Professionals Global Client Service Locations +$3.4B +$1.5T +9,60

  6. Slide 6: First Quarter Highlights

    First Quarter Highlights1 (#039;s in millions, except per share data) Total Revenues AEPS AEBITDA AEBITDA Margin $846.5 $0.33 $121.2 14.3% 1Q 2026 27.2% 57.1% 35.8% 91bps In 1Q 2026: - Total Revenues in the U.S. and the U.K. were up 26.6%, while they increased by 37.9% in the rest of the world, as Newm

  7. Slide 7: Total Revenues

    Total Revenues (#039;s in millions) 1Q 2026 Total Revenues 1Q 2026 Total Revenues YoY Leasing & Other Capital Markets Management Services, Commissions Servicing Fees, & Other Management Services, Servicing Fees, & Other $847 29.8% $665 $250 40.6% 27.2% 1Q 2026 Revenue $208 by Business $252 Capital Mark

  8. Slide 8: Management Services, Servicing Fees & Other

    Management Services, Servicing Fees & Other (#039;s in millions) Management Services, Servicing Fees & Other – Total Revenues Detail Total Revenues – Management Services, Servicing Fees & Other Valuation & Other Pass Through Revenues Servicing Fees & Valuation & Advisory (V&A) Management Other Revenues

  9. Slide 9: Leasing & Other Commissions

    Leasing & Other Commissions (#039;s in millions) 1Q 2026 Industry U.S. Office Market Leasing Activity YoY1 Total Revenues – Leasing & Other Commissions 76.2% $250 20.2% $208 28.2% 24.7% 24.6% 9.0% National Average: 7.5% -1.3% -1.8% -17.7% San Miami Manhattan Dallas Los Washington, Boston Chicago Franci

  10. Slide 10: Capital Markets

    Capital Markets (#039;s in millions) Newmark vs. Industry TTM Volumes – % Change YoY Total Revenues – Capital Markets Newmark Gained Share Over the Trailing Twelve Months Investment Mortgage Brokerage & Loan Originations OMSR Sales Debt Placement Related Fees & Revenues Sales Premiums, net U.S. Total U

  11. Slide 11: Strong Balance Sheet & Credit Metrics

    Strong Balance Sheet & Credit Metrics No near-term debt maturities AS OF 03/31/2026, UNLESS OTHERWISE STATED ($ IN MILLIONS) Cash and Cash Equivalents $212.1 Credit Metrics as of 03/31/2026 Interest Rate Maturity Senior Notes 7.50% 01/12/2029 $597.0 $594.4 million TTM Adjusted EBITDA Credit Facility

  12. Slide 12: Our Strong Financial Position & Cash Generation Will Help Fuel Our Continued Growth

    Our Strong Financial Position & Cash Generation Will Help Fuel Our Continued Growth Low Risk Strong Financial Profile & Strong Cash Flow Intermediary Credit Metrics – Capital-light model; we do not own real estate – Operates with investment grade credit metrics – Newmark has a history of strong Cash

  13. Slide 13: Outlook & Targets

    Outlook & Targets Property Type: Office, Other Click here to return to the Table of Contents 13

  14. Slide 14: Updated Outlook for 2026

    Updated Outlook for 2026 Metric FY 2026 Outlook YoY Change Prior Outlook Prior YoY Change FY 2025 Actual Total Revenues (millions) $3,775 - $3,875 15% - 18% $3,700 - $3,800 12% - 15% $3,294.0 Adjusted Earnings Per Share $1.87 - $1.98 15% - 22% $1.82 - $1.92 12% - 19% $1.62 Adjusted Earnings Tax Rate

  15. Slide 15: GAAP Financial Results

    GAAP Financial Results Property Type: Industrial Click here to return to the Table of Contents 15

  16. Slide 16: Condensed Consolidated Statements of Operations

    Newmark Group, Inc. Condensed Consolidated Statements of Operations (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) (UNDER GAAP) Three Months Ended March 31, Revenues: 2026 2025 Management Services, Servicing Fees and Other $ 344,031 $ 283,893 Leasing and Other Commissions 250,031 208,074 Capital

  17. Slide 17: Condensed Consolidated Statements of Operations (continued)

    Newmark Group, Inc. Condensed Consolidated Statements of Operations (continued) (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) (UNDER GAAP) Three Months Ended March 31, 2026 2025 Per share data: Basic earnings per share Net income (loss) available to common stockholders $ 14,419 $ (8,766) Basic e

  18. Slide 18: Condensed Consolidated Balance Sheets

    Newmark Group, Inc. Condensed Consolidated Balance Sheets (IN THOUSANDS) (UNAUDITED) (UNDER GAAP) March 31, 2026 December 31, 2025 Assets Current Assets: Cash and cash equivalents $ 212,070 $ 229,109 Restricted cash and short-term investments 122,916 120,176 Loans held for sale, at fair value 1,141,

  19. Slide 19: Summarized Condensed Consolidated Statements of Cash Flows

    Newmark Group, Inc. Summarized Condensed Consolidated Statements of Cash Flows (IN THOUSANDS) (UNAUDITED) (UNDER GAAP) Three Months Ended March 31, 2026 2025 Net cash provided by (used in) operating activities $ (247,598) $ (179,404) Net cash provided by (used in) investing activities (13,159) (5,44

  20. Slide 20: Appendix 1: Additional Information on Newmark

    Appendix 1: Additional Information on Newmark Property Type: Various Click here to return to the Table of Contents NEWMARK 20

  21. Slide 21: Newmark Volumes

    Newmark Volumes (#039;s in millions) Quarterly Volumes 1Q 2026 1Q 2025 % Change Newmark Volumes Fannie Mae $979 $1,047 (6.5%) Freddie Mac 1,666 878 89.8% FHA / Other 18 24 (22.7%) Total GSE/FHA Origination Volume $2,663 $1,948 36.7% Mortgage Brokerage & Debt Placement 18,987 8,249 130.2% Total Debt $21

  22. Slide 22: Fully Diluted Period-End Share Count Summary

    Newmark Group, Inc. Fully Diluted Period-End Share Count Summary As of March 31, 2026 Fully Diluted Shares (millions) Ownership (%) Class A owned by Public 146.9 58.7% 1 Limited partnership units owned by employees 48.8 19.5% Class A owned by employees 8.1 3.2% Other owned by employees 5.3 2.1% Part

  23. Slide 23: Servicing & Asset Management

    Servicing & Asset Management Portfolio Composition as of 03/31/2026 Newmark Fannie Mae/Freddie Mac Portfolio Maturities by Year Special Servicing 0.7% 34.2% Fannie Mae 16.5% 26.5% 20.8% Freddie Mac 18.5% 13.2% $222.1 Billion FHA/Other (1) 5.5% Limited Servicing & Asset Management 64.1% 2026-28 2029-

  24. Slide 24: Adjusted Free Cash Flow (AFCF)

    Adjusted Free Cash Flow (AFCF) (#039;s in millions) $361.5 +111.7% ($39.2) +70.3% $170.7 ($131.8) TTM March 2025 TTM March 2026 1Q 2025 1Q 2026 ‒ Adjusted Free Cash Flow (AFCF) is a metric defined as GAAP operating cash flow minus capital expenditures, adjusted for the impact of GSE/FHA loan activity.

  25. Slide 25: TTM Cash Generated by the Business to Adjusted Free Cash Flow Bridge

    TTM Cash Generated by the Business to Adjusted Free Cash Flow Bridge (#039;s in millions) $556.7 NMRK’s reported cash flow metrics Items impacting NMRK’s cash flow metrics ($161.1) $291.8 $361.5 $103.8 ($291.8) $69.7 ($34.1) Cash Generated Employee Net GSE/FHA GAAP Cash Capex5 Free Cash Net GSE/FHA Adj

  26. Slide 26: Certain Revenue Terms Defined

    Certain Revenue Terms Defined Fee and non-fee revenues The Company’s Total Revenues include certain Management Services revenues that equal their related expenses. These revenues represent fully reimbursable compensation and non-compensation costs recorded as part of Newmark's Occupier Solutions ("O

  27. Slide 27: Other Useful Information

    Other Useful Information Recent Acquisitions For additional information about the Company's most recent acquisitions, please see press releases titled "Altus Group Announces the Sale of its Canadian Appraisals Business to Newmark"; "Newmark Acquires Catella Valuation Advisory in Paris, France"; and

  28. Slide 28: Appendix 2: Additional Industry Information

    Appendix 2: Additional Industry Information Property Type: Various Click here to return to the Table of Contents NEWMARK 28

  29. Slide 29: CRE Maturities & the Investment Sales Recovery Are Potential Tailwinds for Industry Volumes

    CRE Maturities & the Investment Sales Recovery Are Potential Tailwinds for Industry Volumes1 Near-term refinancing needs and a recovery of investment sales volumes should drive industry capital markets activity Hypothetical U.S. Origination Volumes Inflation-Adjusted (Assuming Certain Levels of Refi

  30. Slide 30: Appendix 3: Financial Tables & Reconciliations

    Appendix 3: Financial Tables & Reconciliations Property Type: Various Click here to return to the Table of Contents NEWMARK 30

  31. Slide 31: Non-GAAP Financial Measures

    Non-GAAP Financial Measures NON-GAAP FINANCIAL MEASURES This document contains non-GAAP financial measures that differ from the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles in the United States ("GAAP"). Non-GAAP financial mea

  32. Slide 32: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) - Charges with respect to preferred units. Any preferred units would not be included in the Company’s fully diluted share count because they cannot be made exchangeable into shares of common stock and are entitled only to a fixed distribution. Preferred units

  33. Slide 33: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) Excluded Compensation-Related Items with Respect to the 2021 Equity Event under Adjusted Earnings and Adjusted EBITDA Newmark does not view the cash GAAP compensation charges related to 2021 Equity Event (the "Impact of the 2021 Equity Event") as being reflect

  34. Slide 34: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) Calculation of Other income (loss) for Adjusted Earnings and Adjusted EBITDA Adjusted Earnings calculations also exclude certain other non-cash, non-dilutive, and/or non-economic items, which may in some periods include: – Unusual, non-ordinary or non-recurrin

  35. Slide 35: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) METHODOLOGY FOR CALCULATING ADJUSTED EARNINGS TAXES Although Adjusted Earnings are calculated on a pre-tax basis, Newmark also reports post-tax Adjusted Earnings to fully diluted shareholders. The Company defines post-tax Adjusted Earnings to fully diluted sha

  36. Slide 36: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) The share count for Adjusted Earnings excludes certain shares and share equivalents expected to be issued in future periods but not yet eligible to receive dividends and/or distributions. Each quarter, the dividend payable to Newmark’s stockholders, if any, is

  37. Slide 37: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) ADJUSTED EBITDA DEFINED Newmark also provides an additional non-GAAP financial performance measure, “Adjusted EBITDA”, which it defines as GAAP “Net income (loss) available to common stockholders”, adjusted for the following items: – Net income (loss) attribut

  38. Slide 38: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) MANAGEMENT RATIONALE FOR USING ADJUSTED EBITDA Newmark’s calculation of Adjusted EBITDA excludes certain items discussed above because they are either non-cash in nature, because the anticipated benefits from the expenditures are not expected to be fully reali

  39. Slide 39: Non-GAAP Financial Measures (continued)

    Non-GAAP Financial Measures (continued) The Company believes that Adjusted Free Cash Flow is useful for investors in evaluating Newmark’s ability to generate cash that it may deploy for various corporate purposes, including but not limited to paying dividends or distributions, investing in organic g

  40. Slide 40: Reconciliation of GAAP Net Income to Adjusted Earnings and Post-Tax Adjusted EPS

    Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests And Taxes And GAAP Fully Diluted EPS to Post-Tax Adjusted EPS (in Thousands, Except per Share Data) (Unaudited) Three Months Ended March 31, 2026 2025 GAAP net income (loss) availa

  41. Slide 41: Reconciliation of GAAP Net Income to Adjusted Earnings (continued)

    Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests And Taxes And GAAP Fully Diluted EPS to Post-Tax Adjusted EPS (continued) (in Thousands, Except per Share Data) (Unaudited) Three Months Ended March 31, 2026 2025 GAAP net income (

  42. Slide 42: Reconciliation of GAAP Net Income to Adjusted Earnings (continued)

    Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests And Taxes And GAAP Fully Diluted EPS to Post-Tax Adjusted EPS (continued) (in Millions) (Unaudited) Three Months Ended March 31, 2026 2025 GAAP provision (benefit) for income taxes

  43. Slide 43: Reconciliation of GAAP Net Income to Adjusted EBITDA

    Reconciliation of GAAP Net Income to Adjusted EBITDA (in Thousands, unless noted) (Unaudited) Three Months Ended March 31, 2026 2025 GAAP net income (loss) available to common stockholders $ 14,419 $ (8,766) Adjustments: Net income (loss) attributable to noncontrolling interests (1) 2,196 (7,183) Pr

  44. Slide 44: Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow

    Reconciliation of GAAP Net cash provided by (used in) operating activities to Free Cash Flow and Adjusted Free Cash Flow (in Millions) (Unaudited) Three Months Ended March 31, Trailing Twelve Months March 31, 2026 2025 2026 2025 Net cash provided by (used in) operating activities (1) $ (247.6) $ (17

  45. Slide 45: Other Income Details of Net Leverage

    Other Income (in Millions) (Unaudited) Three Months Ended March 31, 2026 2025 Other items, net 0.6 0.7 Other income (loss), net under GAAP 0.6 0.7 To reconcile from GAAP other income, exclude: Other items, net (0.6) (0.7) Other income, net for Pre-tax Adjusted Earnings — — Newmark's Other income (lo

  46. Slide 46: Media and Investor Contacts

    MEDIA CONTACT INVESTOR CONTACT Find out more about Newmark For additional insights from Newmark Research, at the following sites: please go to the following websites: Deb Bergman Jason McGruder t 303-260-4307 nmrk.com Shaun French nmrk.com/insights t 212-829-7124 linkedin.com/company/nmrk-cre nmrk.c

Newmark Group — Q1 2026 Earnings Presentation on 6ix