CBRE Group (CBG) Tops Q1 EPS by 1c, Maintains FY EPS Guidance

CBRE Group (NYSE: CBG) reported Q1 EPS of $0.36, $0.01 better than the analyst estimate of $0.35. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.78 billion.

Business Outlook

“We are very encouraged by our strong start to 2016,” Mr. Sulentic said. “As we look ahead, it is important to remember that the first quarter is typically our seasonally lightest quarter for revenue and earnings. As always, we caution against using the first quarter as a barometer of full year performance. However, our business has positive momentum and the macro environment – while more cautious than a year ago – remains generally supportive, with consensus forecasts calling for continued modest economic growth in the U.S. and globally.”

CBRE continues to expect adjusted earnings-per-share in the range of $2.27 to $2.37 for full-year 2016. This represents 13% year-on-year growth at the mid-point of the range.

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

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