Newmark Group (NMRK) investor relations material

Executive summary

• Achieved seventh consecutive quarter of double-digit revenue growth and eighth for earnings improvement, with Q1 2026 revenues up 27% year-over-year to $846.5 million and record results across all major business lines.

• Adjusted EPS rose 57.1% to $0.33; GAAP EPS was $0.08, reversing a prior-year loss; net income available to common stockholders was $19.6 million.

• Management highlighted strong U.S. and international hiring, productivity gains, and successful integration of recent acquisitions, including RealFoundations, Altus, and Catella.

• Share repurchases totaled 10.4 million shares for $151.1 million at an average price of $14.58, with $248.9 million remaining under authorization.

• Dividend doubled to $0.06 per share, the first increase since 2022.

Financial highlights

• Total revenues reached $846.5 million, up 27.2% year-over-year; Adjusted EBITDA increased 35.8% to $121.2 million, with margin expanding by 91 basis points to 14.3%.

• Post-tax Adjusted Earnings rose 53.5% to $83.4 million; Adjusted Free Cash Flow up 111.7% to $361.5 million (TTM), representing 82% of Adjusted Earnings.

• Cash flow from operations increased 186.1% on a trailing twelve-month basis.

• Fully diluted weighted average share count was 256 million.

• Net leverage at 1.0x; cash and equivalents at $212.1 million; total corporate debt $832 million.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $3.775–$3.875 billion, up 15–18%; Adjusted EBITDA expected between $656–$694 million, and Adjusted EPS guidance of $1.87–$1.98, all up double digits year-over-year.

• Over 90% of 2026 earnings growth expected to be organic.

• Capital Markets expected to grow fastest, Management/Servicing in line with midpoint, Leasing below midpoint due to tough comps.

• Guidance assumes no major acquisitions or significant stock price changes.

• Management expects continued growth in recurring revenue businesses, supported by outsourcing trends and recent acquisitions.