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Jun 30
CBRE Q2 2025 Earnings Report
CBRE reported strong results in Q2 2025 with revenue and net income showing robust growth across key segments.
Key Takeaways
CBRE delivered solid second-quarter performance, driven by strength in resilient revenue streams and improved profitability across most business segments. Advisory and Global Workplace Solutions led the way, while free cash flow and cash from operations declined compared to the prior year.
Revenue grew 16% YoY to $9.754 billion, led by strong gains in resilient businesses.
GAAP Net Income rose 65% YoY to $215 million; Core EPS reached $1.19.
Segment operating profit increased notably across Advisory, GWS, and Project Management.
Free cash flow dropped to $2 million from $220 million in the prior year.
CBRE
CBRE
CBRE Revenue by Segment
Revenue by Segment
Advisory Services Revenue
CapyFin.comBuilding Ops & Experience Revenue
CapyFin.comProject Management Revenue
CapyFin.comReal Estate Investments Revenue
CapyFin.com Forward Guidance
CBRE raised its FY2025 Core EPS guidance, citing improved performance across resilient segments and strong business pipelines.
Positive Outlook
- Raised Core EPS guidance midpoint by 30 cents to $6.15.
- Resilient revenue continues to outpace transactional revenue.
- Improved liquidity by $1.2 billion to $4.7 billion.
- Growth in leasing and property sales expected to continue.
- New development pipeline and projects total $31.7 billion.
Challenges Ahead
- Capital markets activity remains well below prior peak levels.
- Free cash flow dropped significantly YoY.
- Operating cash flow down 80% YoY.
- REI segment revenue declined 7%.
- Stock repurchases totaling $663 million may limit capital flexibility.