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Compared to Estimates, CBRE (CBRE) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, CBRE Group (CBRE - Free Report) reported revenue of $7.94 billion, up 7.1% over the same period last year. EPS came in at $0.78, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.07 billion, representing a surprise of -1.68%. The company delivered an EPS surprise of +13.04%, with the consensus EPS estimate being $0.69.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $144 billion versus $147.88 billion estimated by two analysts on average.
Net revenue- Global Workplace Solutions: $2.34 billion versus the three-analyst average estimate of $2.35 billion. The reported number represents a year-over-year change of +10%.
Net revenue: $4.44 billion versus $4.53 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
Net revenue- Advisory Services: $1.88 billion versus the three-analyst average estimate of $1.93 billion. The reported number represents a year-over-year change of +2.7%.
Total revenue- Real Estate Investments: $228 million versus the three-analyst average estimate of $235.84 million. The reported number represents a year-over-year change of +1.9%.
Net revenue- Valuation: $167 million versus $169.96 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.8% change.
Net revenue- Loan servicing: $81 million versus the two-analyst average estimate of $81.19 million. The reported number represents a year-over-year change of +4.5%.
Net revenue- Advisory leasing: $739 million versus $736.94 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
Net revenue- Capital Markets- Advisory sales: $326 million versus the two-analyst average estimate of $330.83 million. The reported number represents a year-over-year change of -11.3%.
Net revenue- Capital Markets- Commercial mortgage origination: $95 million versus the two-analyst average estimate of $75.95 million. The reported number represents a year-over-year change of +33.9%.
Net revenue- Investment management: $149 million versus the two-analyst average estimate of $149.81 million.
Revenue- Pass through costs also recognized as revenue- Advisory Services: $24 million versus $22.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
Shares of CBRE have returned -9.1% over the past month versus the Zacks S&P 500 composite's -2.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, CBRE (CBRE) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, CBRE Group (CBRE - Free Report) reported revenue of $7.94 billion, up 7.1% over the same period last year. EPS came in at $0.78, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.07 billion, representing a surprise of -1.68%. The company delivered an EPS surprise of +13.04%, with the consensus EPS estimate being $0.69.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $144 billion versus $147.88 billion estimated by two analysts on average.
- Net revenue- Global Workplace Solutions: $2.34 billion versus the three-analyst average estimate of $2.35 billion. The reported number represents a year-over-year change of +10%.
- Net revenue: $4.44 billion versus $4.53 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
- Net revenue- Advisory Services: $1.88 billion versus the three-analyst average estimate of $1.93 billion. The reported number represents a year-over-year change of +2.7%.
- Total revenue- Real Estate Investments: $228 million versus the three-analyst average estimate of $235.84 million. The reported number represents a year-over-year change of +1.9%.
- Net revenue- Valuation: $167 million versus $169.96 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.8% change.
- Net revenue- Loan servicing: $81 million versus the two-analyst average estimate of $81.19 million. The reported number represents a year-over-year change of +4.5%.
- Net revenue- Advisory leasing: $739 million versus $736.94 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
- Net revenue- Capital Markets- Advisory sales: $326 million versus the two-analyst average estimate of $330.83 million. The reported number represents a year-over-year change of -11.3%.
- Net revenue- Capital Markets- Commercial mortgage origination: $95 million versus the two-analyst average estimate of $75.95 million. The reported number represents a year-over-year change of +33.9%.
- Net revenue- Investment management: $149 million versus the two-analyst average estimate of $149.81 million.
- Revenue- Pass through costs also recognized as revenue- Advisory Services: $24 million versus $22.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
View all Key Company Metrics for CBRE here>>>Shares of CBRE have returned -9.1% over the past month versus the Zacks S&P 500 composite's -2.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.