Alexander Goldfarb's questions to Newmark Group Inc (NMRK) leadership • Q4 2024
Question
In a follow-up, Alexander Goldfarb of Piper Sandler asked about the profitability of Newmark's international expansion compared to its U.S. operations and any strategies to maintain strong margins abroad.
Answer
CFO Michael Rispoli and CEO Barry Gosin both stated that while the international business is still in a growth phase, particularly in Germany and France, they expect long-term profit margins to be as good as, or potentially better than, their U.S. operations. Mr. Rispoli highlighted strong U.K. revenue growth of 50% year-over-year in Q4 as a positive indicator.