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Newmark: From Garden Leave To Global Growth—Is The International Bet Starting To Pay Off?

Newmark has reported a strong financial performance for the first quarter of 2026, continuing a consistent track record of growth across its service lines. Total revenues increased by 27% year-over-year to $846.5 million, marking the seventh consecutive quarter of double-digit revenue growth. Adjusted earnings per share rose by 57%, reaching $0.33, supported by a 35.8% increase in adjusted EBITDA to $121.2 million and a near 1% improvement in margin on total revenues. This performance was driven by broad-based gains in management services and servicing, leasing, and capital markets. Management and servicing revenues grew 21%, fueled by organic growth and acquisitions, along with the integration of recently acquired platforms which is expected to further strengthen cross-business synergies. Leasing revenues increased by 20%, benefiting from heightened U.S. office leasing volumes especially in markets such as San Francisco and New York City, alongside an expanding international footprint.