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CBRE Non-GAAP EPS of $1.33 beats by $0.13, revenue of $8.19B beats by $220M

Feb. 23, 2023 9:01 AM ETCBRE Group, Inc. (CBRE) StockBy: Manshi Mamtora, CFA
  • CBRE press release (NYSE:CBRE): Q4 Non-GAAP EPS of $1.33 beats by $0.13.
  • Revenue of $8.19B (-4.2% Y/Y) beats by $220M.
  • Global leasing revenue declined 7% (3% local currency).
  • The decline was driven by the Americas, where revenue fell 7% (same in local currency).
  • Foreign currency headwinds masked growth in overseas markets. Combined EMEA/APAC leasing revenue was up 7% in local currency, but down 6% in U.S. dollars. Before currency effects, growth was notably strong in North Asia, Pacific and the United Kingdom.
  • Global leasing revenue declined across all major property types, except retail.

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