earnings
confidence high
sentiment positive
materiality 0.80
CBRE Q2 revenue up 9% to $8.4B; raises Core EPS guidance to $4.70-$4.90
CBRE GROUP, INC.
2024-Q2 EPS reported
$0.83
revenue$16,326,000,000
- GAAP EPS $0.42 down 34% YoY; Core EPS $0.81 down 2%.
- Free cash flow $220M vs -$86M a year ago; free cash flow conversion nearly 90%.
- Advisory leasing up 9% (13% US); capital markets sales down 3%, stabilizing.
- Acquired Direct Line Global for ~$291M; to combine project mgmt with Turner & Townsend in 2025.
- Full-year Core EPS outlook raised to $4.70-$4.90 from $4.25-$4.65.