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Jun 30, 2024
CBRE Q2 2024 Earnings Report
CBRE's financial performance exceeded expectations in Q2 2024, driven by revenue growth and strategic capital investments.
Key Takeaways
CBRE Group, Inc. reported strong second-quarter 2024 financial results, with revenue up 9% and net revenue up 11%. The company saw growth in resilient businesses and advisory transaction revenue, particularly in U.S. leasing and mortgage origination fees. Free cash flow improved significantly, and the company increased its full-year Core EPS outlook.
Revenue increased by 9%, and net revenue rose by 11%.
Resilient Business net revenue grew by 14%, supported by Turner & Townsend's 18% growth.
Advisory transaction revenue increased by 5%, driven by growth in U.S. leasing revenue and mortgage origination fees.
Free cash flow improved by approximately $300 million, with a conversion rate of nearly 90%.
Revenue by Segment
Forward Guidance
CBRE increased its full-year Core EPS outlook to a range of $4.70 to $4.90, up from $4.25 to $4.65.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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