Earnings Per Share and Weighted-Average Shares Outstanding (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic Earnings Per Share

The following is the calculation of Newmark’s basic EPS (in thousands, except per share data): 

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Basic earnings per share:
Net income (loss) available to common stockholders	$	14,280	$	6,429	$	(1,973)	$	(3,921)
Basic weighted-average shares of common stock outstanding	173,469		173,939		174,121		173,254
Basic earnings per share	$	0.08	$	0.04	$	(0.01)	$	(0.02)

Schedule of Fully Diluted Earnings Per Share

The following is the calculation of Newmark’s fully diluted EPS (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023			2024		2023
Fully diluted earnings per share:
Net income (loss) available to common stockholders	$	14,280	$	6,429		$	(1,973)	$	(3,921)
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	6,302		2,421			—		—
Net income (loss) for fully diluted shares	$	20,582	$	8,850		$	(1,973)	$	(3,921)
Weighted-average shares:
Common stock outstanding	173,469		173,939			174,121		173,254
Partnership units(1)	77,955		69,633			—		—
RSUs (Treasury stock method)	3,789		879			—		—
Newmark exchange shares	391		503			—		—
Fully diluted weighted-average shares of common stock outstanding	255,604		244,954			174,121		173,254
Fully diluted earnings per share	$	0.08	$	0.04		$	(0.01)	$	(0.02)

(1)Partnership units collectively include FPUs, limited partnership units, and Cantor Units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information).