Newmark Group, Inc. (NMRK) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the Newmark Group first quarter 2025 financial results. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Jason McGruder, head of investor relations. Please go ahead. Thank you, operator, and good morning. Newmark issued its first quarter 2025 financial results press release this morning. Unless otherwise stated, the results provided on today's call compare only the three months ending March 31st, 2025 with the year earlier period. Except as otherwise specified, we will be referring to results only on a non-GAAP basis, including the terms adjusted earnings and adjusted EBITDA. Unless otherwise stated, any figures discussed today with respect to cash flow from operations refers to net cash provided by operating activities, excluding loan origination and sale activity. We may also use the term cash generated by the business, which is the same operating cash flow measure before the impact of cash used for employee loans. Please refer to today's press release, the supplemental tables, and the quarterly results presentation on our website for complete and updated definitions of any non-GAAP terms, reconciliations of these items to the corresponding GAAP results, and when, how, and why management uses them for additional information on cash flow measures, as well as relevant industry or economic statistics. The outlook discussed today assumes no material acquisitions or meaningful changes to our stock price. Our expectations are subject to change based on various macroeconomic, social, political, and other factors. None of our targets or goals beyond 2025 should be considered formal guidance. Also, I remind you that information on this call contains forward-looking statements, including without limitation sta...