Jason Sabchan's questions to Newmark Group Inc (NMRK) leadership • Q2 2025
Question
Speaking for Jade Rahmani, Jason Sabchan of KBW asked if Newmark had long-term targets for other segments similar to its 2029 management services goal, requested details on data center deal flow and fee structures, and inquired about growth expectations for H2 2025.
Answer
CFO Michael Rispoli confirmed the $2 billion management services revenue target for 2029 but stated there are no similar long-term targets for other segments, pointing instead to the existing 2026 adjusted EBITDA and EPS goals. He clarified that data center deal fees are comparable to the rest of the business, averaging around 70 basis points for sales and 40-50 for debt. For H2 2025, he projected high single to low double-digit growth for management and leasing, and mid-to-high teens growth for capital markets.