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CBRE Group (CBG) Beats Q1 Earnings Estimate

Have you been eager to see how CBRE Group, Inc. CBG performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real operations firm’s earnings release this morning:

An Earnings Beat

CBRE Group came out with adjusted earnings of 36 cents per share, beating the Zacks Consensus Estimate of 33 cents.

Strong results were aided by higher revenues.

How Was the Earnings Surprise Trend?

CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q1, the company delivered positive surprises in all the four trailing quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 11.58% in the trailing four quarters, prior to this earning.

Revenue Miss

CBRE Group posted revenues of $2.85 billion, missing the Zacks Consensus Estimate $2.93 billion. However, it compared favorably with the year-ago number of $2.05 billion.

Key Developments to Note

CBRE’s performance during the quarter has been marked by impressive top-line growth. In fact, the company recorded robust revenues growth in all its 3 global regions during the quarter.
 
The company continues to predict double-digit growth again in 2016 and it expects 2016 adjusted earnings per share to be in the range of $2.27–$2.37.

What Zacks Rank Says

CBRE Group currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this CBRE Group earnings report later!

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CBRE GROUP INC (CBG): Free Stock Analysis Report
 
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