CBRE Group Issues FY24 Earnings Guidance

(RTTNews) - CBRE Group, Inc. (CBRE) said, for 2024, it expects to achieve core earnings per share of $4.25 to $4.65, implying mid-teens percentage growth at the midpoint of the range. The company continues to see path to returning to prior peak core EPS in 2025.

Fourth quarter earnings came in at $477 million, or $1.55 per share compared with $81 million, or $0.25 per share, in last year's fourth quarter. Core EPS was $1.38 compared to $1.33. Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue for the quarter rose 9.3% to $8.95 billion from $8.19 billion last year. Analysts on average had estimated $8.44 billion in revenue.

Shares of CBRE Group are up 6% in pre-market trade on Thursday.

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