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BGC Partners sees Q1 results above high end of previously guided range.

BGC's (BGCP) revenues and pre-tax Adjusted Earnings for the first quarter of 2018 are now expected to be above the high end of the range of its previously stated guidance. The company's consolidated outlook incorporates Real Estate Services offered through its publicly traded subsidiary Newmark Group (NMRK), Financial Services offered through the Company's wholly owned subsidiaries, and Corporate items. BGC and Newmark are each expected to issue separate quarterly financial results press releases and to host separate conference calls to discuss these quarterly results on May 3, 2018. Details of both calls will be announced at a later date. As was previously disclosed, Newmark intends to provide standalone guidance only on an annual basis, and expects to provide and update its annual outlook when it reports its first quarter 2018 results. Q1 EPS consensus is 29c for EPS and $906.35M for revenue.

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Publication:The Fly
Date:Mar 27, 2018
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