Newmark Group Beat on Both Lines, Then Cut Its Full-Year Outlook
As seen on the 24/7 Wall St. homepage on October 29, 2026.
A double beat still came with a cut: Newmark lowered full-year adjusted EPS guidance to $1.80-$1.90 from $1.87-$1.98, blaming macro volatility on the timing of deal closings. Leasing commissions jumped 26.5% on AI and data center demand, even as capital markets revenue slipped.
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Newmark Group cleared Wall Street expectations on both revenue and earnings in Q3 2026, posting adjusted EPS of $0.48 against a consensus of $0.47. The beat extended a streak that stretches back through every quarter visible in the earnings history.
Leasing and Other Commissions surged 26.5%, driven by demand from AI, data center, technology, and health care clients, with particular strength in West Coast markets and Texas. CEO Barry Gosin called it a record third quarter for leasing, and Management Services, Servicing Fees, and Other marked a fifth consecutive record quarter.
Capital Markets revenue slipped 4.4% as total debt volumes fell against a prior-year comparison that included a large AI data center transaction. That drag from one tough comparable shows how deal timing alone can swing a segment, the same dynamic management cited when trimming guidance.
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Despite the double beat, Newmark lowered its full-year 2026 adjusted EPS outlook to $1.80 to $1.90 and cut its revenue target. Management attributed the revision to macroeconomic volatility affecting the timing and certainty of deal closings, while still projecting double-digit full-year growth.
The board also re-authorized a $400 million share repurchase program on October 28, 2026, after buying back shares year to date through Q3. The combination of a guidance cut and a buyback refresh puts the near-term focus on how deal pipelines behave as the year closes out.
Mentioned: NMRK