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

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Basic earnings per share:
Net income (loss) available to common stockholders	$	17,794	$	9,947	$	15,820	$	6,027
Basic weighted-average shares of common stock outstanding	170,088		174,129		172,767		173,549
Basic earnings per share	$	0.10	$	0.06	$	0.09	$	0.03

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Fully diluted earnings per share:
Net income (loss) available to common stockholders	$	17,794	$	9,947	$	15,820	$	6,027
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	8,357		4,128		7,148		2,266
Net income (loss) for fully diluted shares	$	26,151	$	14,075	$	22,968	$	8,293
Weighted-average shares:
Common stock outstanding	170,088		174,129		172,767		173,549
Partnership units(1)	79,371		71,125		77,792		68,658
RSUs (Treasury stock method)	5,138		1,463		4,398		1,193
Newmark exchange shares	373		523		419		482
Fully diluted weighted-average shares of common stock outstanding	254,970		247,240		255,376		243,882
Fully diluted earnings per share	$	0.10	$	0.06	$	0.09	$	0.03

(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).