CBRE Group Stock Rises on Q3 Earnings Beat, 2024 EPS Outlook Raised

Zacks10-25

CBRE Group Inc. CBRE reported third-quarter 2024 core earnings per share (EPS) of $1.20, ahead of the Zacks Consensus Estimate of $1.06. The reported figure also increased 66.7% year over year. Stay ...

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The reported figure also increased 66.7% year over year.\nStay ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cbre-group-stock-rises-q3-163900533.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CBRE Group Stock Rises on Q3 Earnings Beat, 2024 EPS Outlook Raised</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCBRE Group Stock Rises on Q3 Earnings Beat, 2024 EPS Outlook Raised\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-25 00:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/cbre-group-stock-rises-q3-163900533.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CBRE Group Inc. CBRE reported third-quarter 2024 core earnings per share (EPS) of $1.20, ahead of the Zacks Consensus Estimate of $1.06. The reported figure also increased 66.7% year over year.\nStay ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cbre-group-stock-rises-q3-163900533.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JLL","symbol_name":"仲量联行","start_time":0,"source_url":"https://finance.yahoo.com/news/cbre-group-stock-rises-q3-163900533.html","article_id":"2478566604","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/lQw3aggRowuLrRF.PD9Y9Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/b448af599f8612c873c3acc37b55b02f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478566604","pubTimestamp":1729787940,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"CBRE Group Inc. CBRE reported third-quarter 2024 core earnings per share  of $1.20, ahead of the Zacks Consensus Estimate of $1.06. The reported figure also increased 66.7% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Reflecting positive sentiments, shares of CBRE were up more than 9% so far today. Results reflect double-digit revenue and segment operating profit growth, with significant operating leverage in Advisory Services, Global Workplace Solutions , and Real Estate Investments business segments. The company expects a strong fourth quarter across all three segments and also increased its 2024 core EPS outlook.Quarterly revenues were up 14.8% year over year to $9.04 billion and compared favorably with the Zacks Consensus Estimate of $8.98 billion.Net revenues increased 20%  year over year to $5.32 billion. Core EBITDA rose 57.8 %  to $688 million.The GWS segment registered a year-over-year increase of 12.3%  in revenues to $6.35 billion. ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"JLL":"仲量联行","KW":"Kennedy-Wilson Holdings Inc","CBRE":"世邦魏理仕"},"translate_title":"世邦魏理仕集团股价因第三季度盈利超出预期而上涨，2024年每股收益前景上调","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CBRE":1,"JLL":0.9,"KW":0.9},"content_text":"CBRE Group Inc. CBRE reported third-quarter 2024 core earnings per share (EPS) of $1.20, ahead of the Zacks Consensus Estimate of $1.06. The reported figure also increased 66.7% year over year.\nStay up-to-date with all quarterly releases: See Zacks Earnings Calendar.\nReflecting positive sentiments, shares of CBRE were up more than 9% so far today. Results reflect double-digit revenue and segment operating profit growth, with significant operating leverage in Advisory Services, Global Workplace Solutions (“GWS”), and Real Estate Investments business segments. The company expects a strong fourth quarter across all three segments and also increased its 2024 core EPS outlook.\nQuarterly revenues were up 14.8% year over year to $9.04 billion and compared favorably with the Zacks Consensus Estimate of $8.98 billion.\nNet revenues increased 20% (20.5% in local currency) year over year to $5.32 billion. Core EBITDA rose 57.8 % (58.9% in local currency) to $688 million.\nCBRE’s Quarter in Detail\nCBRE Group’s Advisory Services segment reported a year-over-year revenue increase of 19% (19.5% in local currency) to $2.4 billion. Our estimate was $2.17 billion.\nGlobal leasing revenue rose 19% (same local currency), driven by notable leasing revenue growth in Europe, the Middle East & Africa (EMEA) and the Americas.\nGlobal property sales revenue grew 14% (15% in local currency) year over year for the first time since the second quarter of 2022. This was led by increases across all regions. Moreover, mortgage origination revenue rose 52% (same local currency) due to a 36% increase in loan origination fees and higher interest earnings on escrow balances.\nThe GWS segment registered a year-over-year increase of 12.3% (13% in local currency) in revenues to $6.35 billion. Our estimate was pegged at $6.52 billion.\nPaced by the broad-based strength in both the Enterprise and Local businesses, Facilities management net revenues rose 22% (23% in local currency). Project management net revenues increased 12% (13% in local currency), led by continued strength from Turner & Townsend. Net operating margin improved more than 70 basis points compared with third-quarter 2023, reflecting the benefit of cost efficiency initiatives.\nThe Real Estate Investments segment experienced an increase of 43.8% (same local currency) in revenues to $302 million, driven by higher incentive fees.\nAt the end of the third quarter of 2024, assets under management increased $5.8 billion from the second quarter of 2024 to $148.3 billion due to capital raising, higher asset values and favorable foreign currency movement.\nBalance Sheet Position for CBRE\nCBRE Group exited the third quarter of 2024 with cash and cash equivalents of $1.03 billion, up from $928 million as of June 30, 2024.\nAs of Sept. 30, 2024, CBRE Group had $4 billion in total liquidity. This comprised $1 billion in cash in addition to the ability to borrow a total of approximately $3 billion under its revolving credit facilities, net of any outstanding letters of credit. The company’s net leverage ratio was 1.26X as of the same date, significantly less than CBRE’s primary debt covenant of 4.25X.\nDuring the September-end quarter, the company repurchased approximately 0.6 million shares for $62 million. As of Sept. 30, 2024, it had $1.4 billion of stock-repurchase capacity remaining under its authorized buyback program.\nOutlook\nFor 2024, CBRE projects its core EPS in the range of $4.95-$5.05, up from the previously guided range of $4.70-$4.90. The Zacks Consensus Estimate for the same is currently pegged at $4.80, which is below the guided range.\nCurrently, CBRE Group carries a Zacks Rank #3 (Hold).\n\nCBRE Group, Inc. Price, Consensus and EPS Surprise\n\nCBRE Group, Inc. price-consensus-eps-surprise-chart | CBRE Group, Inc. Quote\n\nUpcoming Releases\nIt’s time to look forward to two stocks from the real estate operation industry, Jones Lang LaSalle Incorporated JLL and Kennedy-Wilson Holdings, Inc. KW. Both Jones Lang LaSalle and Kennedy-Wilson Holdings are slated to report quarterly numbers on Nov. 6.\nThe Zacks Consensus Estimate for Jones Lang LaSalle’s third-quarter 2024 EPS stands at $2.66, which suggests an increase of 32.3% on a year-over-year basis. JLL currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe Zacks Consensus Estimate for Kennedy-Wilson Holdings’ third-quarter 2024 EPS is pegged at 74 cents, which implies a significant increase year over year. KW currently carries a Zacks Rank of 3.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nJones Lang LaSalle Incorporated (JLL) : Free Stock Analysis Report\nKennedy-Wilson Holdings Inc. (KW) : Free Stock Analysis Report\nCBRE Group, Inc. (CBRE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2478566604"}