CBRE Group reports Q2 core EPS $1.19, consensus $1.07

Reports Q2 revenue $9.8B, consensus $9.46B. “The strong momentum we exhibited to start the year continued in the second quarter. Despite uncertainty in the macro environment, occupier and investor clients largely proceeded with executing their plans,” said Bob Sulentic, CBRE‘s chair and chief executive officer. “Resilient revenue rose 17%, surpassing the 15% growth rate for transactional businesses. Resilient revenue growing faster than transactional revenue during a market recovery attests to the progress we’ve made with our resilient businesses. In light of our outperformance in the year’s first half and the pipelines across our business,” Sulentic continued, “we have increased our earnings outlook for the year and expect to set a new peak just two years after the 2023 trough in the commercial real estate downturn. We anticipate this outcome even though capital markets activity remains well below prior peak levels.”