NYSE$CBRE
CBRE Group Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
CBRE reported a significant decline in GAAP net income and EPS, but slightly exceeded core earnings estimates due to resilient outsourcing and project management sectors, while transactional revenue declined more than expected.
CBRE Group, Inc. reported financial results for the fourth quarter and year ended December 31, 2022. Although core earnings declined significantly in the fourth quarter, they slightly exceeded the estimate provided last quarter. For all of 2022, CBRE achieved a solid, 7% growth rate in core earnings-per-share despite the more than doubling of long-term interest rates, sharp equity market decline and the credit crunch that constrained investment activity for most of the second half.
- Global leasing revenue declined 7% (3% local currency), driven by the Americas.
- Global sales revenue fell 47% (44% local currency) due to a highly constrained capital environment.
- GWS revenue increased 7% (13% local currency), excluding revenue from Turner & Townsend.
- Assets Under Management (AUM) increased $5.4 billion from third-quarter 2022 to $149.3 billion, a record high for the company.
Headline financials
Revenue & EPS history
CBRE · Revenue · Quarterly
$8.19B
Revenue by segment
CBRE · $2.9B total across 2 segments · Q4 2022
- Advisory Services$2.61B-21.3%90.0%
- Real Estate Investments$291M-29.6%10.0%
Forward guidance
For 2023, CBRE expects core earnings-per-share to decline by low- to mid-double digits, but still to be the third-highest in CBRE’s history. While the macro environment can certainly change, CBRE expects core earnings-per-share to grow strongly in 2024, exceeding the 2022 peak and reaching a record level in just the first year after a recession.
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 Q4 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
| 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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro