CBRE Group (CBG) Tops Q3 EPS by 5c, Raises Guidance

CBRE Group (NYSE: CBG) reported Q3 EPS of $0.51, $0.05 better than the analyst estimate of $0.46. Revenue for the quarter came in at $2.71 billion versus the consensus estimate of $2.54 billion.

CBRE Group sees FY2015 EPS of $2.00-$2.05, versus the consensus of $1.97.

Business Outlook

“As we enter the fourth quarter, 2015 is clearly emerging as another exceptional year for CBRE,” Mr. Sulentic said. “The actions we have taken to upgrade our talent base, enhance our service offering, materially strengthen our operating platform, particularly data and technology, and fortify our financial position are yielding strong results for our clients and shareholders.”

CBRE is mindful of challenges to the global economy. However, in light of its performance through the year’s third quarter and its strategic and financial momentum, CBRE is raising its guidance for full-year 2015 adjusted earnings per share by $0.10 to $2.00 to $2.05. The new guidance implies 20% year-over-year growth in adjusted earnings per share at the mid-point of the range.

For earnings history and earnings-related data on CBRE Group (CBG) click here.

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