CBRE Group reports Q4 core EPS $1.38, consensus $1.18

Reports Q4 revenue $8.95B, consensus $8.44B. “We ended 2023 on a high note with fourth quarter year-over-year operating profit growth across all three of our business segments,” said Bob Sulentic, CBRE‘s chair and chief executive officer. “Even though 2023 was a difficult year for commercial real estate, we delivered the third-highest full-year earnings in CBRE’s history, as our resilient businesses continued their strong growth. This partly offset market-driven revenue declines in businesses that are sensitive to interest rates and debt availability,” he continued. For 2024, CBRE expects to achieve core earnings-per-share of $4.25 to $4.65, implying mid-teens percentage growth at the midpoint of the range.