CBRE Group (CBG) Tops Q4 EPS by 13c

CBRE Group (NYSE: CBG) reported Q4 EPS of $0.93, $0.13 better than the analyst estimate of $0.80. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.89 billion.

Business Outlook

“CBRE enters 2017 in a great position following very strong performance in 2016,” Mr. Sulentic said. “Our business has positive underlying momentum, as the global economy continues to grow – albeit at a modest pace – and commercial real estate fundamentals remain sound. Our outlook is bolstered by the many advantages CBRE holds as the sector leader. Our talent base is deep and our people are aligned with and energized by our strategy. Our operating platform is becoming stronger, as we continue to invest in technology, data analytics and other strategic initiatives.”

Overall, CBRE expects to achieve adjusted earnings per share for 2017 in the range of $2.35 to $2.45. The company anticipates growth to be constrained by a 6-cent per share headwind from adverse foreign currency movement. At the midpoint of the range, the growth rate for adjusted earnings per share would be 4% in U.S. dollars, or 7% in local currency – almost entirely from organic growth.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c