Newmark Group, Inc. (NASDAQ:NMRK) Q1 2024 Earnings Call Transcript May 3, 2024 10:00 AM ET

Company Participants

Jason McGruder - Head of IR
Barry Gosin - CEO
Mike Rispoli - CFO
Luis Alvarado - Chief Revenue Officer and East Region Market Leader

Conference Call Participants

Alexander Goldfarb - Piper Sandler
Jason Sabshon - KBW

Operator

Good day, and welcome to the Newmark Group First Quarter 2024 Financial Results Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Jason McGruder, Head of Investor Relations. Please go ahead.

Jason McGruder

Thank you, operator, and good morning. Newmark issued its first quarter 2024 financial results press release this morning. Unless otherwise stated, the results provided on today's call compare only the three months ending March 31, 2024 with a year earlier period. Except as otherwise stated, we will be referring to results only on a non-GAAP basis, which includes the terms adjusted earnings and adjusted EBITDA. Unless otherwise stated, any figures discussed today with respect to cash flow from operations refer to net cash provided by operating activities excluding loan origination and sales. Please refer to today's press release, the supplemental tables, and the quarter results presentation on our website for a complete and updated definitions of any non-GAAP terms, reconciliation of these terms to the corresponding GAAP results and how, when, and why management uses them, as well as relevant industry or economic statistics.

Our outlook discussed today assumes no material acquisitions or meaningful changes in 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 2024 should be considered formal guidance.

I also remind you that information on this call contains forward-looking statements, including without limitation, statements concerning our economic outlook and business. Such statements are subject to risks and uncertainties which could cause our actual results to differ from expectations. Except as required by law, we undertake no obligation to update any forward-looking statements. For a complete discussion of risks and other factors that may impact these forward-looking statements, see our SEC filings, including, but not limited to the risk factors and disclosures regarding forward-looking information in our most recent SEC filings, which are incorporated by reference.

I am now happy to turn the call over to our host and Chief Executive Officer, Barry Gosin.

Barry Gosin