---
schema_version: "secwatch.filing_event.v1"
accession: "0001138118-23-000013"
form_type: "8-K"
ticker: "CBRE"
cik: "0001138118"
company_name: "CBRE GROUP, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:13:44.498526+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001138118-23-000013
- form_type: 8-K
- ticker: CBRE
- cik: 0001138118
- company_name: CBRE GROUP, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1138118/000113811823000013/0001138118-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1138118/000113811823000013/cbre-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001138118-23-000013
- JSON: https://secwatch.observer/filing/0001138118-23-000013.json
- Plain text: https://secwatch.observer/filing/0001138118-23-000013.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1138118/000113811823000013/0001138118-23-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.