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CBRE Group (CBRE) Q1 Earnings and Revenues Beat Estimates
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Have you been eager to see how CBRE Group, Inc. (CBRE - Free Report) performed in Q1 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 54 cents, beating the Zacks Consensus Estimate of 49 cents.
Results reflect growth in global occupier outsourcing, capital markets and Asia Pacific (APAC) business.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q1, the company delivered positive surprises in all the four trailing quarters, as shown in the chart below.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 19.5% in the trailing four quarters.
Revenue Came In Higher Than Expected
CBRE Group posted revenues of around $4.67 billion, which beat the Zacks Consensus Estimate of $3.34 billion. It also compared favorably with the year-ago tally of $4.05 billion.
Key Developments to Note
In Q1, APAC witnessed revenue growth of 23% (17% local currency) from the prior year quarter, with strong growth in India and Japan.
Global occupier outsourcing revenue increased 16% (12% local currency) from the prior year quarter, with solid growth in India, the United States and a number of continental European countries.
Moreover, capital markets businesses, which include property sales and commercial mortgage origination, reported combined revenue increase of 17% (14% local currency).
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.
Check back later for our full write up on this CBRE earnings report!
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CBRE Group (CBRE) Q1 Earnings and Revenues Beat Estimates
Have you been eager to see how CBRE Group, Inc. (CBRE - Free Report) performed in Q1 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 54 cents, beating the Zacks Consensus Estimate of 49 cents.
Results reflect growth in global occupier outsourcing, capital markets and Asia Pacific (APAC) business.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q1, 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 19.5% in the trailing four quarters.
Revenue Came In Higher Than Expected
CBRE Group posted revenues of around $4.67 billion, which beat the Zacks Consensus Estimate of $3.34 billion. It also compared favorably with the year-ago tally of $4.05 billion.
Key Developments to Note
In Q1, APAC witnessed revenue growth of 23% (17% local currency) from the prior year quarter, with strong growth in India and Japan.
Global occupier outsourcing revenue increased 16% (12% local currency) from the prior year quarter, with solid growth in India, the United States and a number of continental European countries.
Moreover, capital markets businesses, which include property sales and commercial mortgage origination, reported combined revenue increase of 17% (14% local currency).
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 earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>