CBRE Group Q1 2024 Adj EPS $0.78 Beats $0.68 Estimate, Sales $7.935B Miss $7.943B Estimate
Portfolio Pulse from Benzinga Newsdesk
CBRE Group reported Q1 2024 adjusted EPS of $0.78, surpassing the $0.68 estimate, marking a 14.71% beat but a 15.22% decrease from the previous year's $0.92. Sales reached $7.935B, slightly missing the $7.943B estimate by 0.10%, yet showing a 7.07% increase from last year's $7.411B.
May 03, 2024 | 10:48 am
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CBRE Group's Q1 2024 earnings surpassed estimates with an adjusted EPS of $0.78, despite a year-over-year decrease. Sales slightly missed estimates but showed growth from the previous year.
While CBRE Group's earnings per share exceeded analyst expectations, the slight miss in sales forecasts and the year-over-year decrease in EPS could lead to mixed short-term market reactions. The growth in sales compared to last year indicates underlying strength, potentially balancing out the negative impact of the EPS decrease.
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