Newmark Reports Continued Revenue Growth as Q1 Earnings Top Expectations

Global real estate advisory giant Newmark posted better-than-expected earnings for the first quarter of 2026 and raised its full-year guidance, sending its stock price into the green on Thursday morning. 

Newmark reported total revenues for the quarter of $846.5 million, a 27.2 percent year-over-year growth from the $665.5 million the firm reported in the first quarter of 2025, according to the firm’s first-quarter earnings report. Analysts had expected Newmark’s revenue to come in at $748.7 million, according to financial content platform Seeking Alpha. 

Adjusted earnings per share (EPS) were 33 cents for the first quarter of 2026, higher than the 21 cents per share reported for the same quarter last year. Analysts had expected Newmark to report earnings of 27 cents per share. 

“Newmark continued its strong momentum in the first quarter by increasing total revenues 27 percent and adjusted EPS 57 percent,” Newmark CEO Barry Gosin said during a Thursday morning earnings call. “This was our seventh consecutive quarter of double-digit, top-line growth, and eighth quarter in a row of double-digit earnings improvement. Our results reflected broad-based gains across management services and servicing, leasing and capital markets, driving record first-quarter revenues for each of these service lines.”

The firm saw strong office leasing momentum across a variety of markets during the first quarter, especially as return-to-work trends continue. Leasing and other commissions were up by 20.2 percent for the quarter, reaching revenue of $250 million, versus $208 million from the year-ago quarter.

“This reflected meaningful acceleration in U.S. office leasing volumes, particularly in San Francisco and New York City, as well as the continued expansion of our global footprint,” Gosin said during the call. 

In-person office attendance for March of 2026 increased to an average of 73.5 percent of pre-pandemic levels recorded in March 2019, according to Placer.ai data cited by Newmark in its earnings presentation. That represented a 66 percent year-over-year growth when compared to 2025.

“We expect leasing activity to benefit from normalizing return-to-office trends and improving industrial leasing fundamentals in the U.S. and U.K.,” Gosin said during the call. 

Additionally, Newmark raised its guidance slightly for the full year. Revenue is now expected to come in between $3.77 billion and $3.87 billion in 2026, whereas the firm had previously estimated that full-year 2026 revenue would come in between $3.7 billion and $3.8 billion.   

Adjusted earnings are also expected to come in between $1.87 per share and $1.98 per share, compared to Newmark’s previous estimates of between $1.82 per share and $1.92 per share. 

“The company’s ongoing success is due to the consistent execution of our strategy of leading with the industry’s best talent, deepening client relationships, and expanding our international footprint, which together drive growth across all of our service lines,” Gosin said in a statement. “Given the strong start to the year and our healthy transaction pipeline, we are raising our full-year outlook and expect Newmark to deliver double-digit top- and bottom-line growth for the third consecutive year in 2026.”

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.