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CBRE Group (CBG) Q3 Earnings and Revenues Beat Estimates

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Have you been eager to see how CBRE Group, Inc. performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real estate operation firm’s earnings release this morning:

An Earnings Beat

CBRE Group came out with adjusted earnings per share of 64 cents, beating the Zacks Consensus Estimate of 54 cents.

Results reflect strength in all three of its regional services businesses and solid growth in occupier outsourcing business.

How Was the Earnings Surprise Trend?

CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q3, the company delivered positive surprises in all the four trailing quarters, as shown in the chart below.

CBRE Group, Inc. Price and EPS Surprise
 

CBRE Group, Inc. Price and EPS Surprise | CBRE Group, Inc. Quote

 

Overall, the company surpassed the Zacks Consensus Estimate by an average of 18.7% in the trailing four quarters.

Revenue Came Higher Than Expected

CBRE Group posted revenues of around $3.55 billion, which beat the Zacks Consensus Estimate of $3.42 billion. It also compared favorably with the year-ago tally of $3.19 billion.

Key Developments to Note

CBRE Group has raised its outlook for 2017 adjusted earnings per share to $2.58-$2.68.

What Zacks Rank Says

CBRE Group currently has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on this CBRE Group earnings report!

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