CBRE Q1 Core EPS down 15% to $0.78; GAAP EPS up 10% to $0.41; revenue rises 7%

CBRE GROUP, INC.

2024-Q1 EPS reported $0.41 revenue$7,935,000,000

GAAP EPS $0.41 vs $0.37 (+10%); Core EPS $0.78 vs $0.92 (-15%); Core EBITDA $424M (-20.3%).
Revenue $7.94B (+7.1%); net revenue $4.44B (+6.3%); free cash outflow improved to -$560M from -$805M.
Global leasing +4%; capital markets sales -11%; mortgage origination +34%; GWS net revenue +10% but margin fell.
REI segment operating profit -74% on prior-year development gain; corporate non-core loss $71M on Altus Power.
Acquired J&J Worldwide Services for $820M; issued $500M senior notes (5.5%, 2029); no share repurchases in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CBRE GROUP, INC. reported first quarter ended March 31, 2024 results: revenue $7,935, net income 126, EPS 0.41. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $7,935
Net income: 126
EPS: 0.41
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The following table presents highlights of CBRE performance (dollars in millions, except per share data; totals may not add due to rounding): % Change Q1 2024 Q1 2023 USD LC (1) Operating Results Revenue $ 7,935 $ 7,411 7.1 % 6.9 % Net revenue (2) 4,444 4,181 6.3 % 6.1 % GAAP net income 126 117 8.0 % 10.3 % GAAP EPS 0.41 0.37 10.4 % 12.8 %

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Source: SEC EDGAR

accession 0001138118-24-000011

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