Newmark Group (NASDAQ:NMRK) Third Quarter 2022 Results
Key Financial Results
Revenue: US$664.6m (down 16% from 3Q 2021).
Net income: US$28.0m (down 78% from 3Q 2021).
Profit margin: 4.2% (down from 16% in 3Q 2021). The decrease in margin was driven by lower revenue.
EPS: US$0.16 (down from US$0.65 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Newmark Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 23%.
Looking ahead, revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Real Estate industry in the US.
The company's share price is broadly unchanged from a week ago.
We don't want to rain on the parade too much, but we did also find 2 warning signs for Newmark Group that you need to be mindful of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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