Newmark Posts Record Q2 Revenue of $888M, CEO Gosin to Step Down at Year-End
NMRK is trading near its 52-week low of $13.36 (11% above the low).
Summary
Newmark reported record Q2 2026 revenue of $888.4 million, up 17% YoY, and announced that CEO Barry Gosin will step down at year-end. The strong top-line growth was accompanied by rising expenses and a CEO succession plan that adds uncertainty.
Key Events · Earnings and Guidance · NMRK
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Record Q2 Revenue of $888.4M
Total revenues grew 17% year-over-year to $888.4 million, with Management Services up 17.7%, Leasing up 17.2%, and Capital Markets up 16.0%. Six-month revenues reached $1,734.9 million.
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CEO Barry Gosin to Step Down
CEO Barry Gosin will step down on December 31, 2026, after 47 years. He will become Chairman of Newmark & Co. The Board expects to name a successor by year-end. A new employment agreement extends his term through 2029 with reduced annual compensation of $5 million.
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Credit Facility Upsized to $900M
On April 17, 2026, the revolving credit facility was amended and restated, increasing to $900 million and extending maturity to April 2030. As of June 30, $270 million was drawn.
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Aggressive Share Repurchases Continue
The company repurchased 10.4 million shares for $151.1 million in H1 2026 at an average price of $14.58. $248.9 million remains under the $400 million authorization.
Analysis · NMRK · Real Estate & Construction
Newmark delivered record quarterly revenue of $888.4 million, up 17% year-over-year, driven by double-digit growth across all business lines. The quarter also marks the announcement that CEO Barry Gosin will step down at the end of 2026 after 47 years, transitioning to Chairman of the operating company. While the company has a deep leadership bench, the departure of a long-tenured CEO introduces succession uncertainty. The strong operating performance is tempered by a 13% increase in equity-based compensation and a 23% jump in operating expenses, partly due to lease termination charges. The balance sheet remains solid with $259.7 million in cash and a newly upsized $900 million credit facility, but the company continues to aggressively repurchase shares, spending $151 million in the first half. The dividend was doubled to $0.06 per share, signaling confidence in cash generation.
At the time of this filing, NMRK was trading at $14.81 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $13.36 to $19.84. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.