CBRE Group (NYSE:CBRE) Q1 2023 Earnings Conference Call April 26, 2023 8:30 AM ET Company Participants Brad Burke - SVP, IR Bob Sulentic - President, CEO Emma Giamartino - CFO Conference Call Participants Chandni Luthra - Goldman Sachs Steve Sakwa - Evercore ISI Anthony Paolone - JPMorgan Jade Rahmani - KBW Michael Griffin - Citi Stephen Sheldon - William Blair Patrick O'Shaughnessy - Raymond James Operator Greetings, and welcome to CBRE's First Quarter 2023 Earnings Conference Call. At this time, all parti ...

| --- | --- | |----------------|-------| | | | | | CBRE | | | | | | | | | | | April 27, 2023 | | | Q1 2023 CBRE | | | | | | | | | Earnings Call | | | | | | | | | | | | | | | | | | | | | | | | | | Q1 2023 EARNINGS CONFERENCE CALL Statements 2023 CBRE, Inc. |3 Conference Call Participants President & Chief Executive Officer Chief Financial Officer Senior Vice President, Investor Relations & Strategic Finance Q1 2023 EARNINGS CONFERENCE CALL Results Summary － Performance relative to expectations led by cyclica ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR CBRE GROUP, INC. (Exact name of registrant as specified in its charter) ___________________________________________________________ Delaware 94-3391143 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of th ...

Commission file number 001-32205 CBRE GROUP, INC. None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or ...

Financial Data and Key Metrics Changes - The company reported core EPS of $1.33 for Q4 2022, a significant decline from the previous year but slightly above the estimate provided at the end of Q3 2022 [3] - Full year core EPS grew 7% to $5.69, despite challenging macroeconomic conditions, including rising interest rates and a credit crunch [68] - The company expects core EPS to decline by low to mid double digits in 2023, but still anticipates it to be the third highest in its history [92] Business Line Data and Key Metrics Changes - Leasing revenue decreased by 7% globally and in the Americas, with a notable slowdown in office activity in major cities [5] - GWS net revenue grew by 13%, with organic revenue growth contributing half of that increase [32] - Advisory net revenue and SOPs declined by 21% and 33% respectively, driven by a decline in higher margin transactional businesses [93] Market Data and Key Metrics Changes - The company expects significant sales and leasing weakness in the first half of 2023, with Europe and Asia Pacific anticipated to outperform the Americas [60] - The macroeconomic outlook includes a short, moderate recession in the U.S. with unemployment expected to rise to near 5% [33] - Cap rates have increased by 100 to 150 basis points, with expectations for further expansion [31] Company Strategy and Development Direction - The company views 2023 as a transition year, expecting strong core EPS growth in 2024, exceeding 2022 levels [4] - The focus is on resilient business lines, which are expected to contribute more significantly to SOP in 2023 [102] - The company is willing to consider M&A opportunities, with a leverage target of up to two times for transformational deals [19] Management's Comments on Operating Environment and Future Outlook - Management anticipates a mild recession and expects capital markets to recover in the latter half of 2023 [130] - There are positive anecdotal signs in the market, with increased activity in asset sales and leasing expected to improve [100] - The company remains optimistic about long-term growth prospects, supported by a strong brand and market position [97] Other Important Information - The company has implemented a $400 million cost containment program, expecting significant cost benefits in 2023 [72] - The Telford business faced challenges, leading to a $43 million loss in Q4, but management expects improvement moving forward [94][84] - The company repurchased nearly $2 billion worth of shares in 2022, indicating a strong commitment to capital allocation [44] Q&A Session Summary Question: How does the company expect to grow in a shrinking office footprint environment? - Management noted that even with account shrinkage, there are opportunities for project and portfolio management work, which can drive revenue [11] Question: What are the expectations for leasing and transactional business recovery? - The company expects a rebound in transactional business lines starting late 2023 into 2024, with achievable growth targets [18] Question: What are the parameters for potential M&A activity? - The company is willing to leverage up to two times for transformational deals and is building its M&A pipeline [19] Question: How is the company addressing the challenges in the office leasing market? - Management has adjusted its strategy to focus more on industrial assets and expects a shift in income streams from office to industrial [26] Question: What is the outlook for free cash flow conversion in 2023? - The company expects free cash flow conversion to be roughly in line with 2022 levels, around 75%, with potential for mid-80s in a normalized environment [122]

CBRE CBRE Investor Overview November 2022 INVESTOR OVERVIEW Forward-Looking Statements This presentation contains statements that are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding CBRE's future growth prospects, including operations, market share, capital deployment strategy and share repurchases, M&A and investment activity, financial performance, cost management and any other statements regarding matters that are not historic ...

CBRE Group, Inc. (NYSE:CBRE) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET Company Participants Brad Burke - Head, IR Robert Sulentic - President and CEO Emma Giamartino - CFO and Investment Officer Conference Call Participants Chandni Luthra - Goldman Sachs Anthony Paolone - JPMorgan Steve Sakwa - Evercore ISI Jade rahmani - KBW Stephen Sheldon - William Blair Patrick O'Shaughnessy - Raymond James Operator Greetings and welcome to the CBRE Third Quarter 2022 Earnings Conference Call. At this ...

October 27, 2022 Q3 2022 CBRE Earnings Call Contents Page # Section 5 Bob Sulentic, CEO Remarks 6 Emma Giamartino, CFO & CIO Remarks 13 Appendix 18 Non-GAAP Measures and Definitions 21 Supplemental Slides, GAAP Reconciliation Tables Q3 2022 EARNINGS CONFERENCE CALL Forward-Looking Statements This presentation contains statements that are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding CBRE's future growth prospects, including our ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______________ to _______________ Commission File Number 001-32205 ___________________________________________________________ CBRE GROUP, INC. (Exact name of regis ...

August 4, 2022 Q2 2022 CBRE Earnings Call | --- | --- | |----------|-------------------------------------------------| | | | | | | | Contents | | | | | | 5 Page # | Bob Sulentic, CEO Remarks | | 6 | Emma Giamartino, CFO & CIO Remarks | | 9 | | | 14 | | | 18 | Non-GAAP Measures and Definitions | | 21 | Supplemental Slides, GAAP Reconciliation Tables | Q2 2022 EARNINGS CONFERENCE CALL Forward-Looking Statements This presentation contains statements that are forward looking within the meaning of the Private Se ...