NYSE$CBRE
CBRE Group Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
CBRE's third quarter performance highlighted the company's resilience and strategic expense management amidst the Covid-19 pandemic, with growth observed in specific sectors and regions.
CBRE Group, Inc. reported financial results for the third quarter ended September 30, 2020. The company's performance was impacted by the Covid-19 pandemic, particularly in the sales and leasing businesses. However, internal efforts to improve cash management resulted in increased free cash flow. GAAP EPS was $0.55 and adjusted EPS was $0.73 for the quarter.
- Revenue was $5,645 million, a decrease of 4.7% from Q3 2019.
- GAAP net income was $184 million, a decrease of 28.2% from Q3 2019.
- Adjusted EBITDA was $442 million, a decrease of 2.8% from Q3 2019.
- Free cash flow increased 101.4% to $798 million.
Headline financials
Revenue & EPS history
CBRE · Revenue · Quarterly
$5.65B
Revenue by segment
CBRE · $1.92B total across 2 segments · Q3 2020
- Advisory Services$1.75B—91.2%
- Real Estate Investments$170M—8.8%
Forward guidance
CBRE is navigating the Covid-19 pandemic by leveraging resilient aspects of its business, aligning expenses with market demand, and capitalizing on secular growth trends.
Tailwinds
- Capitalizing on occupier outsourcing trends.
- Leveraging growth in industrial and logistics space.
- Focusing on institutional-quality multifamily assets.
- Expanding workplace experience services.
- Positioning strategy and leadership to capitalize on new secular opportunities arising from Covid-19.
Headwinds
- Covid-19 is putting downward pressure on parts of CBRE's business.
- Property leasing and sales are experiencing a sharp, Covid-driven fall.
- Large occupiers are putting leasing decisions on hold.
- Capital flows into commercial real estate remain severely disrupted.
- The pandemic's continuing effects are causing some occupiers to extend their decision-making timelines or place some decisions temporarily on hold.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+1.3%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.9%
Avg return
30 days after
59%
41 / 69 earnings
Positive
+14.8%
Q3 2020
Best reaction
-8.8%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | -4.3% | -14.5% | |
| Q4 2025 | -8.8% | -5.5% | -10.5% | |
| Q3 2025 | +0.1% | -2.6% | -4.3% | |
| Q2 2025 | +7.8% | +5.0% | +10.5% | |
| Q1 2025 | +0.8% | -0.2% | -0.8% | |
| Q4 2024 | +1.8% | +2.2% | -10.7% | |
| Q3 2024 | +7.7% | +6.3% | +10.0% | |
| Q2 2024 | +12.5% | +13.9% | +19.1% | |
| Q1 2024 | -0.5% | -0.3% | +1.5% | |
| Q4 2023 | +7.2% | +4.7% | +7.3% | |
| Q3 2023 | +1.6% | +5.6% | +18.9% | |
| Q2 2023 | -6.7% | -6.1% | -6.5% | |
| Q1 2023 | +9.6% | +7.4% | +8.0% | |
| Q4 2022 | -1.1% | -0.9% | -19.9% | |
| Q3 2022 | -2.6% | +0.2% | +6.4% | |
| Q2 2022 | +0.4% | -0.3% | -7.7% | |
| Q1 2022 | -5.1% | -8.2% | -6.6% | |
| Q4 2021 | +2.7% | -0.5% | -6.0% | |
| Q3 2021 | +0.5% | -1.4% | -5.2% | |
| Q2 2021 | +6.0% | +5.7% | +5.1% | |
| Q1 2021 | +3.1% | +3.4% | +6.2% | |
| Q4 2020 | +2.6% | +0.7% | +1.6% | |
| Q3 2020 | +14.8% | +18.2% | +39.2% | |
| Q2 2020 | -4.4% | -1.0% | +10.6% | |
| Q1 2020 | +9.0% | -2.5% | +41.6% | |
| Q4 2019 | -1.4% | +1.4% | -31.1% | |
| Q3 2019 | -1.9% | -0.7% | +5.3% | |
| Q2 2019 | +0.9% | -2.7% | -1.4% | |
| Q1 2019 | -2.8% | -3.8% | -1.5% | |
| Q4 2018 | +3.4% | +4.6% | +5.9% | |
| Q3 2018 | +3.6% | +6.3% | +8.4% | |
| Q2 2018 | -0.7% | -0.5% | -2.1% | |
| Q1 2018 | +0.3% | +1.0% | +0.6% | |
| Q4 2017 | -1.5% | +3.8% | +11.9% | |
| Q3 2017 | +3.9% | +4.6% | +10.2% | |
| Q2 2017 | -1.9% | -1.6% | -7.8% | |
| Q1 2017 | +3.6% | +4.1% | -0.5% | |
| Q4 2016 | +9.2% | +12.3% | +15.3% | |
| Q3 2016 | -6.7% | -7.0% | +5.8% | |
| Q2 2016 | -1.4% | -1.9% | +2.7% | |
| Q1 2016 | -3.2% | — | — | |
| Q4 2015 | +0.3% | — | — | |
| Q3 2015 | +8.9% | — | — | |
| Q2 2015 | -0.4% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +3.3% | — | — | |
| Q3 2014 | +1.3% | — | — | |
| Q2 2014 | -4.0% | — | — | |
| Q1 2014 | +9.9% | — | — | |
| Q4 2013 | -3.5% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q2 2013 | -2.4% | — | — | |
| Q1 2013 | -1.7% | — | — | |
| Q4 2012 | +8.7% | — | — | |
| Q3 2012 | -1.3% | — | — | |
| Q2 2012 | +2.6% | — | — | |
| Q1 2012 | +3.7% | — | — | |
| Q4 2011 | +3.1% | — | — | |
| Q3 2011 | -5.8% | — | — | |
| Q2 2011 | +1.0% | — | — | |
| Q1 2010 | -2.7% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2008 | -1.8% | — | — | |
| Q4 2010 | -1.8% | — | — | |
| Q3 2009 | +1.5% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q2 2009 | +1.8% | — | — | |
| Q2 2010 | +1.8% | — | — | |
| Q4 2009 | +1.8% | — | — |
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