Newmark Group, Inc. (NMRK) Misses Q1 EPS by 14c

Newmark Group, Inc. (NASDAQ: NMRK) reported Q1 EPS of $0.09, $0.14 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $483.9 million versus the consensus estimate of $494.43 million.

Outlook for 2020

Newmark is withdrawing its previously issued outlook for 2020 because of elevated market uncertainty due to the pandemic. In the COVID-19 Supplement, the Company has provided analysts and investors with a framework under which they might analyze Newmark's potential earnings. This special presentation includes certain hypothetical scenarios that illustrate possible future Adjusted EBITDA and pre-tax Adjusted Earnings results.

For example, the Company shows a scenario where a $500 million year-over-year commission-based revenue decline in 2020, coupled with the previously discussed expense reductions, would result in a $150 million year-over-year reduction in Adjusted EBITDA ($565.8 million in 2019) and pre-tax Adjusted Earnings ($511.9 million in 2019), all else equal. For each additional $100 million change in annualized commission revenues, Newmark would expect its Adjusted EBITDA and pre-tax Adjusted Earnings to change by approximately $50 million. Please note that Newmark's actual results may differ materially from the hypothetical scenarios shown in the COVID-19 Supplement.

For earnings history and earnings-related data on Newmark Group, Inc. (NMRK) click here.

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