CBRE Q3 GAAP EPS down 56% to $0.61; core EPS down 36%; FY guidance cut to mid-30% decline

CBRE GROUP, INC.

2023-Q3 EPS reported $1.62 revenue$22,999,025,000

GAAP net income $191M ($0.61 EPS), down 57%; Core EPS $0.72, down 36%.
Advisory Services revenue $2.0B (-17%), operating profit $277M (-35%).
GWS revenue $5.6B (+17%), operating profit $251M (+15%); record pipeline.
REI operating profit $7M (-89%); development operating loss $22.1M on delayed sales.
FY2023 core EPS outlook cut to ~mid-30% decline (prior ~20-25%) due to continuing capital markets pressure.

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 third quarter of 2023 results: revenue $7,868, net income $191, EPS $0.61. Guidance lowered.

Period: third quarter of 2023
Revenue: $7,868
Net income: $191
EPS: $0.61
Guidance: lowered
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 Q3 2023 Q3 2022 USD LC (1) Operating Results Revenue $ 7,868 $ 7,530 4.5 % 3.4 % Net revenue (2) 4,430 4,623 (4.2) % (5.1) % GAAP net income 191 447 (57.3) % (57.1) % GAAP EPS 0.61 1.38 (55.6) % (55.4) % Core adjusted net income (3) 226 365

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Source: SEC EDGAR

accession 0001628280-23-035352

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