CBRE Q2 2024 Earnings Report
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%.
CBRE
CBRE
CBRE 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