- CBRE’s revenue for Q1 of 2024 was $7.94 billion, which shows a 7.1% year-over-year increase.
- Advisory revenue grew by 2.7% year-over-year, reaching $1.90 billion, slightly surpassing the predicted $1.86 billion.
- Global Workplace Solutions revenue increased by 8.8% year-over-year, totalling $5.81 billion, somewhat lower than the $5.99 billion estimate.
- Real Estate Investments revenue came in at $228 million, a modest increase of 1.9% year-over-year, and marginally surpassing the expectation of $227.3 million.
- Adjusted Ebitda was $424 million, experiencing a 20% year-over-year fall, well below the predicted $457.4 million.
- Advisory Operating Income rose to $190 million, reflecting a significant 51% year-over-year increase, slightly missing the estimate of $197 million.
- Global Workplace Solutions operating income soared by 49% year-over-year to reach $162 million, but it was below the expectation of $178.4 million.
- Real Estate Investments transitioned from a loss of $70.2 million to a positive operating income of $6 million year-over-year, coming in slightly under the predicted $6.9 million.
- The adjusted core EPS for CBRE was 78 cents, exhibiting a decrease from the previous year’s 92 cents, but substantially exceeding the estimate of 69 cents.
- Higher than expected interest rates due to persistent inflation led to a performance slip in property sales transaction activity.
- Leasing activity surpassed expectations due to global office leasing growth, reflecting a resilient economy and companies showing progress in bringing their employees back to the office.
- Experts have given 4 ‘buy’, 7 ‘hold’, and 0 ‘sell’ ratings for CBRE’s stock.
A look at CBRE Group Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
CBRE Group, Inc. is positioned for favorable long-term prospects with a strong Smartkarma Smart Score of 4 for Growth. The company has shown robust potential for expansion and development in the real estate services industry, indicating a positive trajectory for future profitability and market performance.
Despite a lower Smart Score of 1 for Dividend, CBRE Group demonstrates solid resilience and momentum with scores of 3 in both factors. This exemplifies the company’s ability to withstand economic fluctuations and maintain its competitiveness in the market. With a diversified portfolio covering property management, valuation, and advisory services across various sectors globally, CBRE Group is well-equipped to capitalize on emerging opportunities and drive sustained growth.
*Summary of company description: CBRE Group, Inc. provides real estate services worldwide, including property management, valuation, real estate investment, and advisory services across a variety of sectors such as offices, data centers, multi-family, hotels, gaming, and retail.*
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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