EarningsQ2 2026 Earnings Report
MX:CBRE Q2 2026 EPS Results
Actual EPS$26.47
Consensus EPS$24.97
Beat/MissBeat by +$1.49
One Year Ago EPS$20.19
MX:CBRE Q2 2026 Revenue Results
Actual Revenue$190.46B
Expected Revenue$189.70B
Beat/MissBeat by +$760.26M
YoY Revenue Growth+15.09%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:CBRE Upcoming Earnings
CBRE Group's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CBRE Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong quarter with broad-based double‑digit revenue growth, significant margin and cash generation improvements, and an upgraded EPS outlook driven by robust infrastructure and data center demand. Key strengths include high growth in data center and critical infrastructure services, strong leasing and project management performance, and healthy free cash flow enabling buybacks and M&A optionality. Headwinds include fundraising shortfalls versus expectations, agency origination pressure, external constraints on data center development (NIMBYism, water/power, supply chain, labor), timing uncertainty on land monetizations, and some accounting-driven margin uplift in BOE. Overall, the positives—notably the raised guidance and multi-quarter momentum—outweigh the manageable lowlights.Company Guidance
Strong Overall Financial Performance
Revenue increased 16% year-over-year; core EBITDA rose 34%; core EPS up 30%. Management raised full-year core EPS guidance to $7.80–$7.90 (23% growth at midpoint). This marks the fifth consecutive quarter with at least 18% core EPS growth.
Infrastructure and Data Center Momentum
Infrastructure services revenue reached nearly $1.2B, up more than 45%. Data center services revenue surpassed $700M, rising nearly 30%. Management expects data center services revenue to grow at ~25% annually for the next five years and remain above 15% thereafter, and projects a potential long-term infrastructure opportunity (management commentary) toward a multibillion-dollar business by 2030.
Advisory & Leasing Strength
Advisory revenue rose 18% with strong operating leverage (Advisory SOP up 29%). Global leasing grew 24% (U.S. leasing +24%; U.S. office leasing +29%; U.S. industrial leasing +17%). Company achieved highest U.S. office leasing revenue for any second quarter.
Building Operations & Experience (BOE) Growth
BOE delivered double-digit revenue growth with BOE SOP up ~25%. Critical Infrastructure Services revenue increased 68%; Data Center Solutions grew nearly 30%. Enterprise Facilities Management rose ~35%, and local facilities management delivered high‑teens growth.
Project Management Outperformance
Project Management revenue grew 19% with infrastructure activity up 30% and SOP growth of 28%. Turner & Townsend contribution highlighted, with expanded U.S. penetration and strong backlog in infrastructure, energy and hyperscaler-related work.
Real Estate Investment & Embedded Gains
Development operating profit exceeded prior year without data center land sales; management cites approximately $900M of embedded gains in the development portfolio. Investment Management AUM ended the quarter at ~$155B.
Strong Free Cash Flow & Capital Allocation
Trailing 12-month free cash flow nearly $1.7B. Management expects to be near the high end of its free cash flow conversion range (75%–85%) for the full year. Year-to-date share repurchases are nearly $1.0B (including >$450M since Q1), reflecting confidence in capital returns.
Upgraded Near‑Term Outlook
Management increased 2026 EPS guidance and expects more than 20% core EPS growth in Q3; full-year 2027 core EPS growth guidance of at least 15% with low double-digit SOP growth expected in BOE and Project Management segments.
MX:CBRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed