Jun 2026 (Q2 FY26) — Jul 29, 2026
CBRE Q2 FY26 — Strong Growth Across Segments, Raised EPS Guidance
Read the full callCBRE (CBRE) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
CBRE earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 11,226 | +15.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 3.3 | −0.6 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 204 | −5.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
12 of 14 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| BOE margins | flat | Dec 2025 | without that change, the margin for the year will improve by 20 basis points or so. | Revised Up |
| Advisory SOP growth | low teens | Dec 2025 | Advisory SOP grew 29%, reflecting strong operating leverage. | On Track |
| Advisory SOP growth | double-digit | Dec 2025 | Advisory SOP grew 35%, delivering strong operating leverage. | Achieved |
2 of CBRE GROUP, INC.'s 42 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 39 more targets are in the full ledger.
Claimed
- Core EPS increased 30% on a 16% revenue increase in Q2 FY26.
- All segments (Advisory, Building Operations and Experience, Project Management, and Real Estate Investments) grew SOP by more than 25%.
- Infrastructure Services revenue reached nearly $1.2 billion, increasing over 45%, with Data Center Services revenue surpassing $700 million, up nearly 30%.
- Full-year 2026 Core EPS guidance was raised to $7.80-$7.90, representing 23% growth at the midpoint.
- Global leasing revenue grew 24%, with U.S. office leasing revenue achieving its highest Q2 performance.
Qualified
- Investment Management new capital raised ($1.6 billion) was lower than expectations, with some investors remaining cautious.
- Project Management SOP operating leverage is expected to moderate in the second half of the year due to timing of costs.
- Data center growth faces challenges from NIMBYism, water and power issues, supply chain constraints, and labor shortages.
Price
$130.77 −1.74% · −$2.31
Performance −16.8% 1Y
1Y: $157.12 on 17 Oct 2025 → $130.77. High $171.61 (29 Jan 2026), low $124.64 (1 Jun 2026).
- Previous close
- $133.08
- 52-week range
- $124.64 – $171.61
- One year
- −18.21%
Overview
- Symbol
- CBRE
- Sector
- Real Estate
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
12 of 14 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| BOE margins | flat | Dec 2025 | without that change, the margin for the year will improve by 20 basis points or so. | Revised Up |
| Advisory SOP growth | low teens | Dec 2025 | Advisory SOP grew 29%, reflecting strong operating leverage. | On Track |
| Advisory SOP growth | double-digit | Dec 2025 | Advisory SOP grew 35%, delivering strong operating leverage. | Achieved |
Claimed
- Core EPS increased 30% on a 16% revenue increase in Q2 FY26.
- All segments (Advisory, Building Operations and Experience, Project Management, and Real Estate Investments) grew SOP by more than 25%.
- Infrastructure Services revenue reached nearly $1.2 billion, increasing over 45%, with Data Center Services revenue surpassing $700 million, up nearly 30%.
- Full-year 2026 Core EPS guidance was raised to $7.80-$7.90, representing 23% growth at the midpoint.
- Global leasing revenue grew 24%, with U.S. office leasing revenue achieving its highest Q2 performance.
Qualified
- Investment Management new capital raised ($1.6 billion) was lower than expectations, with some investors remaining cautious.
- Project Management SOP operating leverage is expected to moderate in the second half of the year due to timing of costs.
- Data center growth faces challenges from NIMBYism, water and power issues, supply chain constraints, and labor shortages.
The full ledger
Open CBRE GROUP, INC.’s full ledger
A free account opens 5 company ledgers a month. All 42 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 23, 2026
CBRE Group Q1 FY26 — Infrastructure-services surge and early land harvest drive an EPS raise
Read the full callDec 2025 (Q4 FY25) — Feb 12, 2026
CBRE Group, Inc. Q4 FY25 — Record Revenue and Core EPS, Strong Data Center Growth
Read the full callEvery analysed call
CBRE earnings calls (CBRE)
Financials
What the filings say
Net profit, year on year: −5% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 9,036 | 10,405 | 8,875 | 9,717 | 10,258 | 11,628 | 10,527 | 11,226 |
| Operating profit | 368 | 595 | 276 | 374 | 481 | 622 | 511 | 365 |
| Operating margin | 4.1% | 5.7% | 3.1% | 3.9% | 4.7% | 5.3% | 4.8% | 3.3% |
| Profit before tax | 312 | 613 | 243 | 301 | 487 | 564 | 454 | 315 |
| Tax rate | 21.5% | 18.3% | 21.4% | 20.3% | 18.7% | 20.0% | 24.7% | 21.6% |
| Net profit | 225 | 487 | 163 | 215 | 363 | 416 | 318 | 204 |
| EPS ($ per share) | 0.73 | — | 0.54 | 0.72 | 1.22 | — | 1.08 | 0.70 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 4,505 | 5,793 | 6,530 | 8,367 | 8,833 | 9,188 | 9,567 | 9,916 |
| Total liabilities | 8,447 | 9,924 | 10,533 | 12,714 | 11,907 | 13,481 | 15,191 | 21,251 |
| Fixed assets | 722 | 836 | 815 | 816 | 836 | 907 | 914 | 1,049 |
| Total assets | 13,457 | 16,197 | 18,039 | 22,073 | 20,513 | 22,548 | 24,383 | 30,877 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,131 | 1,223 | 1,831 | 2,364 | 1,629 | 480 | 1,708 | 1,559 |
| Cash from investing | -561 | -721 | -744 | -1,281 | -832 | -681 | -1,514 | -1,627 |
| Cash from financing | -507 | -272 | -223 | -490 | -1,766 | 154 | -221 | 796 |
| Net cash flow | 39 | 230 | 946 | 501 | -1,135 | -34 | -150 | 793 |
| Capital expenditure | -228 | -294 | -267 | -210 | -260 | -305 | -307 | -366 |
| Free cash flow | 903 | 930 | 1,564 | 2,154 | 1,369 | 175 | 1,401 | 1,193 |
CBRE revenue by segment
Advisory Services shrank from 27% to 21% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Building Operations Experience | — | — | — | 60% | 57% | — | 62% | 60% | +16.0% |
| Advisory Services | 27% | 30% | 19% | 19% | 21% | 27% | 18% | 21% | +26.3% |
| Project Management | — | — | 18% | 19% | 20% | 18% | 18% | 18% | +14.5% |
| Real Estate Investments | 3% | 3% | 3% | 2% | 2% | 2% | 2% | 2% | -10.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CBRE operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Change vs prior quarter |
|---|---|---|---|
| Employees Project Management | 15KIt's got 15,000 project management, program management and cost consultancy professionals.Source: earnings call transcript | 15KSo just as an example, between project managers, program managers and cost consultants in that business today, we have 15,000 professionals.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 57% ↓ 1 pt
- All Other Countries 29% ↑ 1 pt
- GB 14%
As CBRE cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
77 filings between Nov 10, 2025 and Aug 13, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$2.68M
9 sales by 3 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 25
- Award — granted as compensation
- 33
- Tax withheld — shares kept back by the company to cover tax
Also filed: 10 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Giamartino Emma E. | — | $2.00M | Aug 13, 2026 |
| Kohli Vikramaditya | — | $552.3K | Jul 29, 2026 |
| Doellinger Chad J | — | $126.8K | Aug 13, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 13, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Sale 10b5-1 plan | 228 | $33.8K |
| Aug 13, 2026 | Giamartino Emma E. CFO & Chief Investment Officer | Sale 10b5-1 plan | 2,250 | $333.7K |
| Jul 29, 2026 | Kohli Vikramaditya COO & CEO, Advisory Services | Sale 10b5-1 plan | 2,666 | $399.9K |
| May 27, 2026 | Cobert Beth F. Director | Gift | 2,068 | $0 |
| May 27, 2026 | Cobert Beth F. Director | Gift | 2,068 | $0 |
| May 26, 2026 | Sanjiv Yajnik Director | Gift | 2,068 | $0 |
| May 26, 2026 | Goodman Shira Director | Gift | 2,068 | $0 |
| May 26, 2026 | GILYARD REGINALD HAROLD Director | Gift | 2,068 | $0 |
| May 26, 2026 | Sanjiv Yajnik Director | Gift | 2,068 | $0 |
| May 26, 2026 | GILYARD REGINALD HAROLD Director | Gift | 2,068 | $0 |
| May 26, 2026 | Goodman Shira Director | Gift | 2,068 | $0 |
| May 21, 2026 | Soni Gunjan Director | Award | 1,907 | $0 |
| May 21, 2026 | Metcalfe Guy A Director | Award | 1,907 | $0 |
| May 21, 2026 | Goodman Shira Director | Award | 1,907 | $0 |
| May 21, 2026 | GILYARD REGINALD HAROLD Director | Award | 1,907 | $0 |
| May 21, 2026 | Cobert Beth F. Director | Award | 1,907 | $0 |
| May 21, 2026 | Sanjiv Yajnik Director | Award | 1,907 | $0 |
| May 21, 2026 | LOPEZ GERARDO I Director | Award | 1,907 | $0 |
| May 21, 2026 | Sanjiv Yajnik Director | Award | 1,526 | $200.0K |
| May 21, 2026 | Boze Brandon B Director | Award | 839 | $109.9K |
| May 21, 2026 | Boze Brandon B Director | Award | 1,907 | $0 |
| May 15, 2026 | Giamartino Emma E. CFO & Chief Investment Officer | Sale 10b5-1 plan | 2,250 | $294.2K |
| May 5, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Sale 10b5-1 plan | 107 | $15.0K |
| May 1, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Tax withheld 10b5-1 plan | 290 | $41.1K |
| May 1, 2026 | Horn Andrew S Deputy Chief Financial Officer | Tax withheld | 58 | $8.2K |
| Mar 12, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Sale 10b5-1 plan | 116 | $15.1K |
| Mar 11, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Sale 10b5-1 plan | 471 | $62.9K |
| Mar 10, 2026 | Horn Andrew S Deputy Chief Financial Officer | Tax withheld | 156 | $21.0K |
| Mar 10, 2026 | Giamartino Emma E. CFO & Chief Investment Officer | Tax withheld | 6,784 | $913.1K |
| Mar 10, 2026 | Giamartino Emma E. CFO & Chief Investment Officer | Tax withheld | 2,822 | $379.8K |
| Mar 10, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Tax withheld 10b5-1 plan | 156 | $21.0K |
| Mar 10, 2026 | SULENTIC ROBERT E Chair & CEO | Tax withheld | 26,854 | $3.61M |
| Mar 10, 2026 | Glanzman Andrew R CEO, Real Estate Investments | Tax withheld | 817 | $110.0K |
| Mar 10, 2026 | Kohli Vikramaditya COO & CEO, Advisory Services | Tax withheld | 2,009 | $270.4K |
| Mar 10, 2026 | SULENTIC ROBERT E Chair & CEO | Tax withheld | 5,586 | $751.8K |
| Mar 10, 2026 | Kohli Vikramaditya COO & CEO, Advisory Services | Tax withheld | 4,827 | $649.7K |
| Mar 10, 2026 | Horn Andrew S Deputy Chief Financial Officer | Tax withheld | 187 | $25.2K |
| Mar 10, 2026 | Glanzman Andrew R CEO, Real Estate Investments | Tax withheld | 869 | $117.0K |
| Mar 5, 2026 | Glanzman Andrew R CEO, Real Estate Investments | Tax withheld | 739 | $104.3K |
| Mar 5, 2026 | Giamartino Emma E. CFO & Chief Investment Officer | Tax withheld | 2,357 | $332.8K |
| Mar 5, 2026 | SULENTIC ROBERT E Chair & CEO | Tax withheld | 4,992 | $704.8K |
| Mar 5, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Tax withheld | 514 | $72.6K |
| Mar 5, 2026 | Doellinger Chad J Chief Legal & Admin. Officer | Tax withheld | 307 | $43.3K |
| Mar 5, 2026 | Hodari Jamie CEO, BOE & CCO | Tax withheld | 1,120 | $158.1K |
| Mar 5, 2026 | Kohli Vikramaditya COO & CEO, Advisory Services | Tax withheld | 2,113 | $298.3K |
| Mar 5, 2026 | SULENTIC ROBERT E Chair & CEO | Tax withheld | 3,744 | $528.6K |
| Mar 5, 2026 | Kohli Vikramaditya COO & CEO, Advisory Services | Tax withheld | 767 | $108.3K |
| Mar 5, 2026 | Horn Andrew S Deputy Chief Financial Officer | Tax withheld | 141 | $19.9K |
| Mar 5, 2026 | Horn Andrew S Deputy Chief Financial Officer | Tax withheld | 118 | $16.7K |
| Mar 5, 2026 | Glanzman Andrew R CEO, Real Estate Investments | Tax withheld | 785 | $110.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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