CBRE Q1 earnings tumble: GAAP EPS $0.37 (-68%), Core EPS $0.92 (-34%)

CBRE GROUP, INC.

2023-Q1 EPS reported $0.37 revenue$7,411,114,000

GAAP net income fell 70% to $117M; GAAP EPS $0.37 vs $1.16 a year ago.
Core EPS $0.92, down 34% from $1.39; Core EBITDA $533M, down 27%.
Advisory Services segment operating profit down 42%; capital markets sales revenue down 41%.
GWS segment revenue up 11%, operating profit up 13%; company keeps FY2023 core EPS outlook for low-to-mid double-digit decline.
Free cash outflow $805M; repurchased 1.4M shares for $114M; net leverage 0.56x.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CBRE GROUP, INC. reported the first quarter ended March 31, 2023 results: revenue $7,411, net income $117, EPS $0.37. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $7,411
Net income: $117
EPS: $0.37
Guidance: reaffirmed
Result: reported results

Exact text from the filing

highlights of CBRE performance (dollars in millions, except per share data; totals may not add due to rounding): % Change Q1 2023 Q1 2022 USD LC (1) Operating Results Revenue $ 7,411 $ 7,333 1.1 % 4.4 % Net revenue (2) 4,181 4,376 (4.5) % (1.2) % GAAP net income 117 392 (70.2) % (68.6) % GAAP EPS 0.37 1.16 (68.1) % (66.4) % Core adjusted net income (3) 290 469

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Source: SEC EDGAR

accession 0001138118-23-000013

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