Newmark Group, Inc. (NASDAQ:NMRK) Q2 2020 Earnings Conference Call August 6, 2020 10:00 AM ET
Company Participants
Jason Harbes - Investor Relations
Barry Gosin - Chief Executive Officer
Mike Rispoli - Chief Financial Officer
Jeff Day - Chief Strategy Officer
Lou Alvarado - Chief Revenue Officer
Conference Call Participants
Alexander Goldfarb - Piper Sandler
Henry Coffey - Wedbush
Michael Funk - Bank of the America Merrill Lynch
Patrick O'Shaughnessy - Raymond James
Operator
Good morning, and welcome to the Newmark Group Second Quarter 2020 financial results conference call [Operator instruction] Please note this event is being recorded.
I would now like to turn the conference over to Mr. Jason Harbes, Vice President of Investor Relations. Please go ahead.
Jason Harbes
Thank you, and good morning. We issued our second quarter 2020 financial results press release and a presentation summarizing these results this morning. I stated the results provided on today's call compare only the second quarter of 2020 with the year-earlier period. Any figures with respect to cash flow from operations discussed on today's call refer to net cash provided by operating activities, excluding activity from loan originations and sales.
We will be referring to our results on this call only on an adjusted earnings basis unless otherwise stated. We may also refer to adjusted EBITDA and cash flow from operations before lending activities. Please see today's press release for results under generally accepted accounting principles or GAAP.
Please see the sections in the back of today's press release for the complete definitions of any such non-GAAP terms, reconciliations of these items to the corresponding GAAP results and how when and why management uses them. Additional information with respect to our GAAP and non-GAAP results mentioned on today's call is available on our website and in our investor presentation.
Any outlook discussed on today's call assumes no material acquisitions, share repurchases, or meaningful changes in the company's stock price. Unless otherwise stated the estimated value of the NASDAQ earn-out is based on the closing price on August 5, 2020. I also remind you that information on this call regarding our business that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934 as amended.
