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CBRE (CBRE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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CBRE Group (CBRE - Free Report) reported $7.72 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.7%. EPS of $0.82 for the same period compares to $1.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.56 billion, representing a surprise of +2.05%. The company delivered an EPS surprise of +6.49%, with the consensus EPS estimate being $0.77.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CBRE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Investment Management AUM: $147.6 billion versus $148 billion estimated by two analysts on average.
Net revenue- Advisory Services: $2.02 billion versus the three-analyst average estimate of $1.90 billion. The reported number represents a year-over-year change of -21.4%.
Net revenue- Global Workplace Solutions: $2.21 billion compared to the $2.16 billion average estimate based on three analysts. The reported number represents a change of +12.7% year over year.
Total revenue- Global Workplace Solutions: $5.43 billion versus the two-analyst average estimate of $5.43 billion. The reported number represents a year-over-year change of +10.6%.
Total revenue- Real Estate Investments: $255.66 million versus the two-analyst average estimate of $225.76 million. The reported number represents a year-over-year change of -7.8%.
Revenue- Pass through costs also recognized as revenue- Global Workplace Solutions: $3.22 billion compared to the $3.26 billion average estimate based on two analysts.
Net revenue- Capital Markets- Commercial mortgage origination: $90.30 million versus $75.06 million estimated by two analysts on average.
Revenue- Pass through costs also recognized as revenue- Advisory Services: $21.40 million versus the two-analyst average estimate of $14.09 million.
Net revenue- Real Estate Investments: $255.66 million versus $232.40 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.8% change.
Net revenue: $4.48 billion versus $4.46 billion estimated by two analysts on average.
Revenue- Pass through costs also recognized as revenue: $3.24 billion versus $3.14 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
Net revenue- Property and advisory project management: $459.20 million versus the two-analyst average estimate of $447.86 million.
Shares of CBRE have returned +12.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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CBRE (CBRE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
CBRE Group (CBRE - Free Report) reported $7.72 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.7%. EPS of $0.82 for the same period compares to $1.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.56 billion, representing a surprise of +2.05%. The company delivered an EPS surprise of +6.49%, with the consensus EPS estimate being $0.77.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CBRE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Investment Management AUM: $147.6 billion versus $148 billion estimated by two analysts on average.
- Net revenue- Advisory Services: $2.02 billion versus the three-analyst average estimate of $1.90 billion. The reported number represents a year-over-year change of -21.4%.
- Net revenue- Global Workplace Solutions: $2.21 billion compared to the $2.16 billion average estimate based on three analysts. The reported number represents a change of +12.7% year over year.
- Total revenue- Global Workplace Solutions: $5.43 billion versus the two-analyst average estimate of $5.43 billion. The reported number represents a year-over-year change of +10.6%.
- Total revenue- Real Estate Investments: $255.66 million versus the two-analyst average estimate of $225.76 million. The reported number represents a year-over-year change of -7.8%.
- Revenue- Pass through costs also recognized as revenue- Global Workplace Solutions: $3.22 billion compared to the $3.26 billion average estimate based on two analysts.
- Net revenue- Capital Markets- Commercial mortgage origination: $90.30 million versus $75.06 million estimated by two analysts on average.
- Revenue- Pass through costs also recognized as revenue- Advisory Services: $21.40 million versus the two-analyst average estimate of $14.09 million.
- Net revenue- Real Estate Investments: $255.66 million versus $232.40 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.8% change.
- Net revenue: $4.48 billion versus $4.46 billion estimated by two analysts on average.
- Revenue- Pass through costs also recognized as revenue: $3.24 billion versus $3.14 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
- Net revenue- Property and advisory project management: $459.20 million versus the two-analyst average estimate of $447.86 million.
View all Key Company Metrics for CBRE here>>>Shares of CBRE have returned +12.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.