Newmark Group, Inc. (NASDAQ:NMRK) Q2 2022 Earnings Conference Call July 29, 2022 10:00 AM ET
Company Participants
Jason McGruder - Head, IR
Barry Gosin - CEO
Michael Rispoli - CFO
Jeffrey Day - Chief Strategy Officer and President & Head, Multifamily Capital Markets
Conference Call Participants
Chandni Luthra - Goldman Sachs Group
Alexander Goldfarb - Piper Sandler & Co.
Jade Rahmani - KBW
Patrick O'Shaughnessy - Raymond James & Associates
Operator
Greetings, and welcome to the Newmark Group Second Quarter 2022 Financial Results Call. [Operator Instructions]. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Jason McGruder, Head of Investor Relations for Newmark Group. Please go ahead.
Jason McGruder
Thank you, operator, and good morning. Newmark issued its second quarter 2022 financial results press release and a presentation summarizing these results this morning. The results provided on today's call compare only the second quarter of 2022 with the year earlier period, unless otherwise stated. Any figures with respect to cash flow from operations discussed on today's call refer to net cash provided by operating activities, excluding loan origination and sales, as well as the impact of the 2021 Equity Event.
We will be referring to our results on this call only on a non-GAAP basis, unless otherwise stated. These non-GAAP terms include adjusted earnings and adjusted EBITDA. Please see the section of today's press release for the complete and/or updated definitions of any non-GAAP terms, reconciliation of these items to the corresponding GAAP results and how, when and why management uses them. Additional information with respect to our GAAP and non-GAAP results is available on our website in today's press release, the supplemental Excel tables and the quarterly results presentation.
Any outlook discussed on today's call assumes no material acquisitions, share repurchases or meaningful changes in the company's stock price. These expectations are subject to change based on various macroeconomic, social, political and other factors, including the COVID-19 pandemic. While our 2025 financial and operational targets do assume acquisitions, they are also subject to change for these same reasons. None of our targets or goals through 2025 should be considered formal guidance.
I also remind you that information on this call regarding our business that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Such statements involve risks and uncertainties. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a complete discussion of additional risks and uncertainties which could cause actual results to differ from those contained in forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in the most recent 10-K, 10-Q or 8-K filings, which are incorporated by reference.