CBRE očekává, že tržby z infrastrukturních služeb v roce 2027 dosáhnou téměř 7 mld. USD, což by oproti letošnímu roku představovalo nárůst o více než 40 %.
On its third quarter of 2026 earnings call, held on Oct. 22, 2026, CBRE (CBRE -6.05%) maintained its full-year core earnings per share (EPS) guidance range of $7.80 to $7.90. Understanding how the commercial real estate services enterprise navigates high interest rates provides a window into its shift toward contractual income sources. Three takeaways from management explain how the company is positioning itself for long-term growth.
1. Infrastructure Services Are Set to Reach $7 Billion in RevenueCBRE is expanding beyond traditional commercial real estate into technical infrastructure services like mechanical, electrical, and plumbing (MEP) projects for data centers. Management expects this expansion to drive total infrastructure revenue to nearly $7 billion in 2027.
Taking this work into account, we expect our total infrastructure services revenue to reach nearly $7 billion in 2027, growing more than 40% from this year.
-- Robert Sulentic, Chair and Chief Executive Officer2. Resilient Business Lines Neutralize Real Estate Capital Market HeadwindsHigher interest rates continue to depress property sales and mortgage origination across the commercial real estate sector. Contract-based operations in facilities and project management provide steady cash flow that offsets transaction volatility.
I do want to say this is a great example of how our business model is working the way we've intended and the way we've shaped it. Even in an environment where our capital markets businesses are slowing, our resilient businesses are able to offset that and deliver double-digit growth.
-- Emma Giamartino, Chief Financial OfficerManagement is prioritizing targeted mergers and acquisitions (M&A) in high-growth areas over buying back company stock. CBRE reduced share buybacks in the third quarter to fund transactions in the data center sector.
So we're always continuing to prioritize M&A. You saw that with Onnec. And you saw in Q3 that we did slow down our buyback somewhat in anticipation of this deal. And you should expect that to continue through the fourth quarter.
-- Emma Giamartino, Chief Financial OfficerLooking AheadInterest rate volatility is delaying property deals, yet stabilizing borrowing costs should eventually restore momentum across real estate capital markets.
What we really need is for rates to stabilize. The volatility and the uncertainty is what's driving a pause or a hold or even delaying deals to 2027. And we expect that stability to come in the back half of next year.
-- Emma Giamartino, Chief Financial OfficerGlobal scale, deep client ties, and broad service diversification allow CBRE to manage cyclical shifts while maintaining pricing discipline. Expanding data center capabilities and recurring facilities revenue reinforce long-term earnings durability despite the impact of rising interest rates.
We are seeing competing dynamics in our business. We expect to see continued outsized growth in our infrastructure businesses. This will be somewhat offset by lower growth in our real estate capital markets-driven businesses. As a result, we continue to see a path to 15% core EPS growth in 2027.
-- Emma Giamartino, Chief Financial OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
CBRE vykázala za čtvrtletí zisk na akcii (EPS) ve výši 2,05 USD, čímž překonala odhad 1,97 USD i hodnotu 1,61 USD z předchozího roku. Tržby ve výši 11,52 miliardy USD však zaostaly za konsensem o 2,16 %.
CBRE Group (CBRE - Free Report) came out with quarterly earnings of $2.05 per share, beating the Zacks Consensus Estimate of $1.97 per share. This compares to earnings of $1.61 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.06%. A quarter ago, it was expected that this provider of real estate investment management services would post earnings of $1.47 per share when it actually produced earnings of $1.56, delivering a surprise of +6.12%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
CBRE, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $11.52 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 2.16%. This compares to year-ago revenues of $10.26 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
CBRE shares have lost about 16.3% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for CBRE?While CBRE has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for CBRE was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.72 on $13.41 billion in revenues for the coming quarter and $7.80 on $47.1 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Real Estate - Operations is currently in the bottom 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, WaterBridge (WBI - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on November 4.
This water infrastructure and pipeline company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of +550%. The consensus EPS estimate for the quarter has been revised 39.3% higher over the last 30 days to the current level.
WaterBridge's revenues are expected to be $235.17 million, up 90.8% from the year-ago quarter.
Should You Invest in CBRE Group, Inc. (CBRE)?
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CBRE koupí londýnskou společnost Onnec Group za 460 milionů GBP v hotovosti; transakce má posílit služby pro datová centra a být okamžitě akretivní pro upravený zisk na akcii.
CBRE Group (CBRE +2.65%) is bulking up through an acquisition, and investors were there for it on Tuesday. They signaled approval by snapping up shares of the real estate company's equity, and CBRE's stock closed that day's trading session nearly 3% higher.
An across-the-Pond acquisitionBefore market open, CBRE announced it had signed a definitive agreement to purchase Onnec Group. This is a London-based company that provides data center infrastructure services to major tech companies in its native Europe and the Asia-Pacific region. The initial price is 460 million British pounds ($613 million), which is to be paid entirely in cash.
Image source: Getty Images.
CBRE will be on the hook for a multi-year earnout of as much as 300 million pounds ($400 million) if Onnec meets certain growth milestones, which were not specified.
The buyer said that its asset-to-be will be immediately accretive to its earnings per share not under generally accepted accounting principles (non-GAAP or "core," in the company's vernacular). Next year, Onnec is anticipated to produce 370 million pounds ($493 million) in revenue. It should also post core earnings before interest, taxes, depreciation, and amortization (EBITDA) of over 50 million pounds ($67 million).
CBRE quoted its COO Vikram Kohli as saying that the company "is pursuing an explicit strategy to build a global infrastructure services business to complement our real estate services business."
"We've long believed Onnec is an excellent fit in this strategy," Kohli added.
CBRE CBRE Group$134.23+$3.46 (+2.65%)
NYSE · As of 4:00 PM ET 10/20/26
A play on a scorching hot marketI think investors were most excited about CBRE's push into the white-hot data center market. Big tech companies continue to feverishly build out infrastructure for artificial intelligence (AI) compute, a trend that appears likely to snowball for years. I don't blame them at all for being enthusiastic about what Onnec can add to CBRE's business.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The upcoming report from CBRE Group (CBRE - Free Report) is expected to reveal quarterly earnings of $1.98 per share, indicating an increase of 23% compared to the year-ago period. Analysts forecast revenues of $11.89 billion, representing an increase of 16% year over year.
The consensus EPS estimate for the quarter has been revised 2.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific CBRE metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Total Revenue- Real Estate Investments' should arrive at $213.47 million. The estimate suggests a change of +1.2% year over year.
The combined assessment of analysts suggests that 'Total Revenue- Advisory Services' will likely reach $2.44 billion. The estimate indicates a year-over-year change of +9.1%.
The collective assessment of analysts points to an estimated 'Total Revenue- Building Operations & Experience' of $6.81 billion. The estimate indicates a year-over-year change of +17.5%.
It is projected by analysts that the 'AUM - Investment Management' will reach $78639.00 billion. The estimate is in contrast to the year-ago figure of $155.80 billion.
Analysts expect 'Total segment operating profit (loss)- Advisory Services' to come in at $423.69 million. The estimate is in contrast to the year-ago figure of $374.00 million.
Analysts forecast 'Total segment operating profit (loss)- Real Estate Investments' to reach $110.93 million. The estimate is in contrast to the year-ago figure of $11.00 million.
Analysts predict that the 'Total segment operating profit (loss)- Project Management' will reach $159.05 million. The estimate is in contrast to the year-ago figure of $123.00 million.
The average prediction of analysts places 'Total segment operating profit (loss)- Building Operations & Experience' at $341.14 million. Compared to the present estimate, the company reported $177.00 million in the same quarter last year.
View all Key Company Metrics for CBRE here>>>
Over the past month, CBRE shares have recorded returns of -4.6% versus the Zacks S&P 500 composite's +1.5% change. Based on its Zacks Rank #3 (Hold), CBRE will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Key Takeaways CBRE reports Q3 results Oct. 22 after four straight earnings beats, averaging a 15.19% earnings surprise.Q3 revenues are projected at $11.89 billion, up 16% year over year, while EPS is expected to climb 23%.Outsourcing demand, leasing strength and higher contractual revenues may offset macro and currency risks. CBRE Group, Inc. (CBRE - Free Report) , the global leader in real estate services, is scheduled to announce its third-quarter 2026 earnings on Oct. 22, before the bell. The company has established itself as a leader in the industry, delivering a comprehensive suite of services such as property sales and leasing, property management, valuation, project management and consulting.
In the last reported quarter, this Dallas, TX-based commercial real estate services and investment firm reported an earnings surprise of 6.12%. Results reflected year-over-year revenue growth across most of its business segments except the Real Estate Investments segment.
Over the preceding four quarters, CBRE surpassed the Zacks Consensus Estimate on each occasion, the average beat being 15.19%. The graph below depicts this surprising history:
CBRE: Factors at PlayIn the third quarter, CBRE Group is likely to have benefited from its ongoing efforts to create a more balanced and resilient operating model, emphasizing a higher proportion of contractual revenues. The company’s broad diversification across property types, service offerings, geographies and clients, along with disciplined cost management, probably helped sustain solid performance throughout the period.
The increasing demand for outsourcing services offers significant opportunities for major industry players like CBRE to expand their client base and offerings. In the third quarter, CBRE Group is also likely to have capitalized on these favorable trends.
The company is expected to have benefited from the solid leasing business. An improvement in the Advisory Services, Building Operations & Experience (BOE), Project Management and Real Estate Investment segments is anticipated in the to-be-reported quarter.
Ongoing macroeconomic and geopolitical uncertainties are expected to have affected commercial real estate transaction activity and client investment decisions. A competitive landscape and foreign currency fluctuations remain concerns.
Projections for CBREThe Zacks Consensus Estimate for quarterly revenues is currently pegged at $11.89 billion, suggesting an increase of 16% year over year.
The consensus mark for total revenues from the Advisory Services segment is pinned at $2.44 billion, up from nearly $2.24 billion in the prior-year quarter. Estimates for revenues from the BOE segment are pegged at $6.81 billion, up from $5.79 billion reported in the previous year.
The consensus mark for revenues from the Project Management segment is pinned at $2.22 billion, up from $2.03 billion in the prior-year quarter. Estimates for revenues from the Real Estate Investments segment are pegged at $213.5 million, up from $211 million reported in the previous year.
Before the quarterly earnings release, the Zacks Consensus Estimate for the July-September quarter’s earnings per share (EPS) has increased 9 cents to $1.98 over the past two months. It suggests a 23% increase year over year. Management also expects core EPS to increase more than 20% year over year in the third quarter of 2026, supported by sustained business momentum.
What Our Quantitative Model Predicts for CBREOur proven model does not conclusively predict an earnings surprise for CBRE Group this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
CBRE Group currently carries a Zacks Rank of 3 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks That Warrant a LookHere are two stocks from the real estate operations industry, Jones Lang LaSalle (JLL - Free Report) and WillScot Holdings Corporation (WSC - Free Report) , that you may want to consider, as our model shows that these have the right combination of elements to report an EPS beat this quarter.
Jones Lang is slated to report quarterly numbers on Oct. 28, 2026. JLL has an Earnings ESP of +1.17% and carries a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
WillScot is scheduled to report quarterly numbers on Nov. 5, 2026. WSC has an Earnings ESP of +0.07% and a Zacks Rank of 3 at present.
Fermi uzavřela pětiletou smlouvu s CBRE, která bude exkluzivně provozovat a udržovat budovu jedna, své první datové centrum v Texas Panhandle. Partner má být na místě až 120 dní před spuštěním.
Five-year agreement brings a proven data-center operator to Project Matador
Adds trained crews and maintenance programs ahead of first compute
DALLAS, TX / ACCESS Newswire / September 24, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), announced today that its subsidiary, Fermi Services LLC, has signed a management agreement with CBRE, the world's largest commercial real estate services firm and provider of critical infrastructure services. CBRE will be the exclusive operations and maintenance provider for building one, Fermi's first data center in the Texas Panhandle. It runs five years from the day building one is first ready for service, and Fermi can renew it in five-year terms.
"We're locking in proven partners early to make our operations and construction activities as safe and efficient as possible," said Lee McIntire, Fermi Chief Executive Officer. "CBRE runs some of the most demanding data center environments in the world. Bringing them in now means that when building one is ready for service, the people, the programs, and the procedures to run it are already in place."
Keeping Critical Infrastructure Running
Fermi is building one of the nation's most ambitious private power and compute campuses near Amarillo, Texas. Signing the operator now puts the team that will run building one in place and trained before the building goes live. CBRE begins its transition work on Fermi's notice to proceed. Site leaders will be on the ground up to 120 days before that. They will build the maintenance programs, check the equipment, and write the operating procedures.
Operations and maintenance is critical in protecting an AI data center's uptime. CBRE takes on that work at building one, using skilled technicians to monitor the center's performance and act quickly to maintain the highest level of reliability. CBRE will run and care for the maintenance, cooling, fire protection, and building systems behind the compute. As new buildings come online, Fermi can add them under the same framework. That keeps one operating standard across the campus. It also ensures continuity with one partner as Fermi's capacity expands.
"Project Matador is one of the most significant data center campuses being built in the country," said Scott Howard, President for the Americas for CBRE's Data Center Solutions business. "Mobilizing large-scale data center campuses is core to what our DCS business does, and getting our team on the ground early means building one will be ready to perform from day one."
The CBRE agreement follows a run of milestones at Project Matador. This month, the first Siemens Energy SGT6-5000F turbines arrived on site. In August, Fermi signed a binding lease with TensorWave, its first customer, and formed an alliance with Hillcore Energy Capital Corporation for roughly 2.6 gigawatts of added power. Before that, Fermi signed Primoris Services Corporation and TSK as its EPC partners.
About Fermi's Project Matador
Fermi America is where AI gets power. The Company is developing one of the world's largest advanced energy and AI ecosystems in the Texas Panhandle. The site, called Project Matador, is secured or under long-term lease with more than $1.5 billion invested in buildout to date. Fermi designed the project to solve the single biggest constraint in AI infrastructure: access to large-scale, reliable power on a timeline that meets customer demand - delivered behind the meter and on a private grid built and operated on site. Subject to entering into binding customer agreements, the project is expected to ramp to approximately 17 GW, with capital deployment matched to commercial commitments.
About Fermi America™
Fermi America™ (Nasdaq & LSE:FRMI) develops next-generation private electric grids that deliver highly redundant power at gigawatt scale to support next-generation intelligence and AI compute. Fermi America™ combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders with a combined 25 GW of experience, to create one of the world's largest, 17 GW next-gen private grid, helping ensure America's energy and AI dominance. The behind-the-meter Project Matador campus is expected to integrate the nation's biggest combined-cycle natural gas project, one of the largest clean, new nuclear power complexes in America, utility grid power, solar power, and battery energy storage, to support hyperscale AI and advanced computing. For additional information visit www.fermiamerica.com.
Investor Contact
Barry Sievert | [email protected]
Media Contact
Fermi Inc. Communications | [email protected]
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's commercial strategy, tenant agreements, Project Matador, expected capacity, delivery schedules, financing arrangements, expansion opportunities, the potential exercise of expansion rights and any resulting capacity or revenue, expected contracted revenue, the anticipated growth of the company's relationship with TensorWave, market demand, the timing and conditions of construction capital deployment, the sufficiency and continued availability of tenant credit support, the availability of project financing, and future operations. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update any forward-looking statements except as required by law.
CBRE zvýšila celoroční výhled upraveného/core zisku na 7,80–7,90 USD na akcii po silném druhém čtvrtletí, kdy EPS i tržby překonaly odhady. Akcie jsou za měsíc zhruba o 1,5 % níže.
It has been about a month since the last earnings report for CBRE Group (CBRE - Free Report) . Shares have lost about 1.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is CBRE due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
CBRE Group’s Q2 Earnings Beat Estimates on Broad-Based Segment GrowthCBRE Group reported second-quarter 2026 core earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.47. The figure increased 30% from $1.20 in the year-ago quarter.
Revenues rose 15.5% year over year to $11.23 billion and surpassed the consensus mark of $11.17 billion. Strong leasing, property sales, critical infrastructure and project-management activity drove growth.
Advisory Strengthens on Leasing and SalesAdvisory Services revenues increased 17.7% year over year to $2.31 billion. Segment operating profit climbed 29.4% to $449 million, outpacing revenue growth and reflecting solid operating leverage.
Global leasing revenues advanced 24%, driven by a 24% increase in the United States on strength in office and industrial activity. Leasing revenues in Europe, the Middle East and Africa (EMEA) grew 27%, while Asia-Pacific revenues rose 19%. Global property sales revenues increased 20%, and commercial mortgage origination revenues improved 8%.
BOE Gains From InfrastructureBOE revenues grew 14.6% to $6.69 billion. BOE’s operating profit increased 25.5% to $335 million, aided by business expansion and the reclassification of certain amortization costs associated with vehicle finance leases.
Critical infrastructure services revenues surged 68%, driven by Data Center Solutions and contributions from Pearce Services, which CBRE Group acquired in November 2025. Facilities management revenues rose 11%, led by local facilities management and growth from technology, media and telecommunications clients.
Project Management Delivers Strong GrowthProject Management revenues increased 19.1% year over year to $2.05 billion. Pass-through costs rose 22.2% to $1.08 billion, reflecting the subcontracted work performed for clients and reimbursed by them.
Segment operating profit advanced 27.8% to $147 million. Infrastructure activity remained strong across transportation and utility projects in the U.K., Europe and the Middle East. Real estate project growth was led by North America and Asia, with notable demand from hyperscaler and technology clients.
Real Estate Investments Profit Rises as Revenues FallReal Estate Investments revenues declined 10.2% to $193 million, mainly reflecting a 37% decrease in development revenues to $44 million. However, segment operating profit increased 68% to $42 million.
Development operating profit rose to $9 million from $3 million, while investment management operating profit edged up to $32 million from $31 million. The development portfolio of in-process projects and pipeline remained at $29.6 billion. Assets under management were approximately $155 billion at quarter-end.
Cash Flow Supports Share RepurchasesCBRE Group generated nearly $1.7 billion of free cash flow during the trailing 12 months, representing a 76% conversion rate. Management expects full-year conversion to be near the high end of its 75-85% target range.
The company repurchased nearly $1 billion of shares from the beginning of 2026 through July 27. It made no material acquisitions during the second quarter, directing capital toward buybacks while maintaining liquidity for strategic investments.
Balance sheet metrics remained conservative. Net leverage was 1.6X as of June 30, 2026. Total liquidity stood at approximately $4.39 billion at quarter-end, comprising $1.49 billion of cash and $2.90 billion available under revolving credit facilities. Management expects year-end leverage to be around the midpoint of its target range.
Raises Its 2026 Earnings OutlookManagement raised its full-year 2026 core earnings guidance to $7.80-$7.90 per share from $7.60-$7.80. The midpoint implies 23% year-over-year growth, supported by the second-quarter outperformance, stronger expected Advisory growth and higher development profits.
The company expects approximately 20% segment operating profit growth in Advisory Services and about 25% growth in BOE. Project Management profit is projected to grow in the mid-teens, while Real Estate Investments profit is expected to exceed the prior-year level, led by development gains.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates revision.
VGM ScoresCurrently, CBRE has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook CBRE has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Should You Buy the Dip in Real Estate Stocks Now?CBRE Group NYSE: CBRE reported continued momentum in the second quarter of 2026, with Core EPS rising 30% and revenue increasing 16%, as both its resilient and transactional businesses posted double-digit growth.
Chair and CEO Bob Sulentic said each of the company’s operating segments—Advisory, Building Operations & Experience, Project Management, and Real Estate Investments—grew segment operating profit by more than 25%. He said the company’s investments were being directed toward businesses that support current performance and long-term growth.
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3 Stocks to Watch as Home Prices Reach a New All-Time High“The momentum in CBRE’s business continued in the second quarter,” Sulentic said, pointing particularly to the company’s infrastructure and data center services operations.
Data Center and Infrastructure Services Expand Infrastructure Services generated nearly $1.2 billion of revenue during the quarter, an increase of more than 45% from a year earlier. Data Center Services revenue exceeded $700 million, rising nearly 30%, according to Sulentic. The reported figure reflects service revenue and excludes data center development land sales.
Bears covered shorts on this ETF, 3 stocks to pop on the shiftCBRE provides services including data center construction, maintenance and operational oversight. Sulentic said the company expects Data Center Services revenue to remain elevated at roughly 25% annual growth over the next five years and then grow at more than 15% as the data center construction cycle matures.
Looking further ahead, Sulentic said CBRE believes its Infrastructure business could reach $10 billion in revenue and more than $1 billion in EBITDA by 2030, with data centers representing a disproportionate share of that opportunity. He identified project and program management through Turner & Townsend, as well as Building Operations & Experience services, as the primary sources of growth.
More than half of CBRE’s data center revenue currently comes from downstream work, including managing, refitting and performing project work at operating data centers, Sulentic said.
Advisory, Operations and Project Management Results Chief Financial Officer Emma Giamartino said Advisory Services revenue rose 18%, exceeding the company’s expectations. Global leasing revenue increased 24%, supported by office and industrial activity, while global property sales revenue rose 20%.
U.S. leasing revenue increased 24%, including a 29% gain in office leasing and a 17% increase in industrial leasing. U.S. property sales revenue grew 24%, with double-digit increases across most major property types. Leasing revenue rose 27% in Europe, the Middle East and Africa and 19% in Asia-Pacific. Mortgage origination revenue increased 8%, as private-capital volume partly offset lower agency lending activity. Giamartino said CBRE generated its highest U.S. office leasing revenue for a second quarter, driven by large transactions in gateway markets. Legal and financial-services tenants have been upgrading and expanding space, while industrial demand was supported by third-party logistics providers and advanced manufacturing companies.
Sulentic said leasing conditions have largely moved beyond the disruption caused by the pandemic. He said companies are increasingly focused on office space as a tool for productivity, employee engagement and training. He also cited strong activity from law firms, which he said are using artificial intelligence for certain functions while maintaining headcount needs in other areas.
In Building Operations & Experience, revenue growth was led by Critical Infrastructure Services, where revenue increased 68%. Data Center Solutions grew nearly 30%, aided by hyperscaler demand and contributions from Pearce Services, which CBRE acquired in November 2025. Local Facilities Management posted high-teens revenue growth across regions, including nearly 35% growth in the Americas.
Project Management revenue rose 19%, including 30% growth in infrastructure-related activity and 13% growth in real estate-related services. Giamartino said transportation and utility projects in the U.K., Europe and the Middle East supported infrastructure performance, while hyperscaler and technology clients were active across regions. Project Management segment operating profit increased 28%, though she said operating leverage is expected to moderate in the second half because of cost timing.
Investment Management, Development and Capital Allocation Within Real Estate Investments, development operating profit exceeded the prior-year level without the benefit of data center land sales. CBRE said it had approximately $900 million of embedded gains in its development portfolio.
Investment Management operating profit increased modestly, while assets under management ended the quarter at approximately $155 billion. The business raised $1.6 billion of new capital, compared with $1.3 billion in the first quarter, but Giamartino said the amount was below company expectations as some investors, particularly those in the Middle East, remained cautious amid global volatility.
Trailing 12-month free cash flow totaled nearly $1.7 billion. CBRE said it remains on track to achieve near the high end of its 75% to 85% full-year free-cash-flow conversion target.
Since the end of the first quarter, the company repurchased more than $450 million of stock, bringing year-to-date repurchases to nearly $1 billion. Giamartino said CBRE continues to prioritize mergers and acquisitions, with share repurchases serving as a use of excess cash flow when acquisition opportunities do not materialize. She added that there is no significant incremental capital allocation assumed in the company’s updated guidance and that buyback activity is expected to taper off.
Outlook Raised for 2026 CBRE raised its 2026 Core EPS outlook to $7.80 to $7.90, from a prior range of $7.60 to $7.80. At the midpoint, the revised forecast represents 23% growth. The company expects more than 20% Core EPS growth in the third quarter, while fourth-quarter performance is expected to be comparable with the prior year, when CBRE recorded significant profits from its data center land program.
Assuming no material changes in macroeconomic conditions or interest rates, CBRE said it remains confident it can deliver at least 15% Core EPS growth in 2027. Giamartino said the company expects low-double-digit segment operating profit growth in Building Operations & Experience and Project Management, while Advisory growth is expected to moderate from 2026 levels but remain above mid-cycle levels.
Sulentic said the company expects property sales and debt origination to remain relatively strong through the remainder of the year, though higher interest rates or greater volatility could affect activity. He said CBRE’s broader growth strategy does not depend on a strong capital-markets environment.
About CBRE Group (NYSE:CBRE)CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.
In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.
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CBRE Group (CBRE - Free Report) came out with quarterly earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +6.12%. A quarter ago, it was expected that this provider of real estate investment management services would post earnings of $1.13 per share when it actually produced earnings of $1.61, delivering a surprise of +42.48%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
CBRE, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $11.23 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.54%. This compares to year-ago revenues of $9.75 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
CBRE shares have lost about 8.6% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for CBRE?While CBRE has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for CBRE was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.82 on $11.66 billion in revenues for the coming quarter and $7.75 on $46.95 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Real Estate - Operations is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, RMR Group (RMR - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This real estate management services provider is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -28.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
RMR Group's revenues are expected to be $162.67 million, up 5.1% from the year-ago quarter.
CBRE Group čeká za čtvrtletí končící v červnu 2026 meziroční růst zisku na akcii o 25,2 % na 1,49 USD a tržeb o 14,5 % na 11,17 mld. USD. Odhad EPS byl za 30 dní snížen o 0,82 %.
CBRE Group (CBRE - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis provider of real estate investment management services is expected to post quarterly earnings of $1.49 per share in its upcoming report, which represents a year-over-year change of +25.2%.
Revenues are expected to be $11.17 billion, up 14.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.82% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for CBRE?For CBRE, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.84%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination makes it difficult to conclusively predict that CBRE will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that CBRE would post earnings of $1.13 per share when it actually produced earnings of $1.61, delivering a surprise of +42.48%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
CBRE doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
