Newmark Group, Inc. (NASDAQ:NMRK) Q2 2024 Earnings Call Transcript August 2, 2024 10:00 AM ET

Company Participants

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

Conference Call Participants

Connor Mitchell - Piper Sandler
Jason Sabshon - KBW
Patrick O'Shaughnessy - Raymond James

Operator

Good day, and welcome to the Newmark Group Second Quarter 2020 Financial Results. As a reminder, today's call is being recorded. At this time, I'd like to turn the call over to Mr. Jason McGruder, Head of Investor Relations. Please go ahead.

Jason McGruder

Thank you, operator, and good morning. Newmark issued its second quarter 2024 financial results press release this morning. Unless otherwise stated, the results provided on today's call compare only the three months ended June 30, 2024, with the year earlier period. Except as otherwise noted, 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 refer to net cash provided by operating activities, excluding GSE/FHA loan origination and sales. Please refer to today's press release, supplement 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 how, when and why management uses them as well as relevant industry or economic statistics. The outlook today discusses -- 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 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 the 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'm now happy to turn the call over to our host and Chief Executive Officer, Barry Gosin.