NYSE$CBRE

CBRE Group Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

CBRE's financial performance reflected resilience amidst a deteriorating macro environment, with leasing performing well and secularly favored businesses posting solid results.

CBRE Group, Inc. reported financial results for the third quarter ended September 30, 2022. GAAP EPS rose 7% to $1.38, while core EPS declined 19% to $1.13. Revenue increased by 10.8% to $7,530 million.

  • Leasing activity continued to rebound in most global markets with revenue rising 14%.
  • A constrained capital environment caused global sales revenue to fall 11%.
  • GWS revenue rose 8%, excluding $325 million of Turner & Townsend revenue.
  • The development pipeline increased $2.0 billion from second-quarter 2022 to $13.5 billion, a record level.

Headline financials

Total Revenue

$7.53B

Previous: $6.8B+10.8%
EPS (adj)

$1.13

Previous: $1.39-18.7%
Operating Margin

17.4%

Previous: 21.6%-19.4%
Mortgage Origination Growth

-28.0%

Previous: 41.0%-168.3%
Property Sales Growth

-11.0%

No prior period
Leasing Revenue Growth

14.0%

No prior period
Capital Expenditures

-$161M

Previous: -$121M-32.6%
Free Cash Flow

$286M

Previous: $314M-9.1%
Net Income

$447M

Previous: $436M+2.5%
Operating Income

$374M

Previous: $410M-8.6%
Gross Profit

$1.6B

Previous: $1.54B+3.6%
Cash & Equivalents

$1.13B

Previous: $2.77B-59.4%
Total Assets

$20.2B

Previous: $19.7B+2.5%
Stock-Based Comp

$41.5M

No prior period

Revenue & EPS history

CBRE · Revenue · Quarterly

$7.53B

Q3 2022+10.8%vs Q3 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

CBRE · $2.69B total across 2 segments · Q3 2022

  • Advisory Services
    $2.43B+0.9%
  • Real Estate Investments
    $258M+15.2%

Forward guidance

The press release does not contain specific forward guidance for future periods.

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 2022

Historical avgQ3 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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