Newmark Q2 revenue down 22% to $585.8M; adjusted EPS $0.18 vs $0.46 YoY

NEWMARK GROUP, INC.

2023-Q2 EPS reported -$0.02 revenue$1,106,643,000

Total revenues $585.8M, down 22.4% YoY; GAAP net income per diluted share $0.04 vs $0.26.
Adjusted EBITDA $72.9M, down 54.3%; Post-tax Adjusted EPS $0.18 vs $0.46 (down 60.9%).
CEO expects $425M AEBITDA and $300-350M cash from business in 2023 despite headwinds.
Recent highlights: hired top producers, originated $947M Freddie Mac loan, advised FDIC on $18.5B loan portfolio sale (expected Oct 2023 close), property management sq ft up 15% to 190M.
Declared quarterly dividend (amount not specified in provided excerpt).

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