Newmark Reports 26% Q3 Revenue Growth, Eyes $2B Recurring Revenue by 2029

Newmark Group has reported strong financial results for the third quarter of 2025, with revenues increasing by approximately 26% year-over-year to $863.5 million, surpassing analyst expectations by more than 11%. The company's adjusted EPS rose to $0.42 per share, marking a 27% increase, and GAAP EPS surged by 150%, both exceeding consensus estimates. Newmark's growth is driven by strategic investments in recurring revenue businesses and global expansion efforts, including acquisitions and entry into new markets like India and the Asia-Pacific region. The company has raised its full-year outlook and aims to improve its Adjusted EBITDA margin by about 100 basis points in 2025 and 2026, reflecting confidence in future earnings potential amid favorable macroeconomic conditions. Despite these positive results, some analysts remain cautious due to concerns over cash flow, leverage, and valuation, while revenue growth expectations are projected to decelerate to around 5.9% in the next 12 months. Overall, Newmark's robust quarter underscores its expanding market position and strategic focus on sustainable growth.