CBRE Group (CBRE) Tops Q2 Earnings Estimates

Company Performance - CBRE Group reported quarterly earnings of $0.81 per share, exceeding the Zacks Consensus Estimate of $0.69 per share, but down from $0.82 per share a year ago [1] - The earnings surprise for the quarter was 17.39%, with a previous quarter surprise of 13.04% when actual earnings were $0.78 against an expectation of $0.69 [2] - Over the last four quarters, CBRE has surpassed consensus EPS estimates four times [3] Revenue Analysis - CBRE posted revenues of $8.39 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.52%, compared to $7.72 billion in the same quarter last year [3] - The company has topped consensus revenue estimates two times over the last four quarters [3] Stock Performance - CBRE shares have increased approximately 5.6% since the beginning of the year, while the S&P 500 has gained 13.8% [5] - The current consensus EPS estimate for the upcoming quarter is $1.12 on revenues of $9.03 billion, and for the current fiscal year, it is $4.48 on revenues of $35.76 billion [7] Industry Context - The Real Estate - Operations industry, to which CBRE belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, indicating potential challenges ahead [12] - The performance of CBRE's stock may be influenced by the overall outlook for the industry [12]