Q4 2021 Newmark Group Inc Earnings Call Transcript
Welcome to the Newmark's Fourth Quarter 2021 Earnings Conference Call. (Operator Instructions) Please be advised that today's conference call is being recorded.
I would now like to turn the call over to Jason McGruder, Head of Investor Relations. Thank you, and please go ahead.
Thank you, and good morning. Newmark issued its fourth quarter and full year 2021 financial results press release and a presentation summarizing these results this morning. The results provided on today's call compare only the fourth quarter of 2021 with the year earlier period, unless otherwise stated. Any figures with respect to cash flow from operations discussed on today's call refer to net cash provided by operating activities, excluding loan origination and sales as well as the impact of the 2021 equity event. We will be referring to our results on this call only on a non-GAAP basis unless otherwise stated.
These non-GAAP terms include adjusted earnings and adjusted EBITDA based on our current methodology, which
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