CBRE raises 2025 profit forecast on higher leasing, property sales
CBRE has raised its 2025 profit forecast due to strong demand in leasing and property sales, with shares rising 6% following the announcement. The company reported a 14% increase in U.S. leasing revenue and an 18% rise in leasing revenue in Europe, the Middle East, and Africa. CBRE now expects core profit per share to be between $6.10 and $6.20, up from a previous estimate of $5.80 to $6.10. The second quarter core earnings per share were $1.19, exceeding analysts' expectations, with total revenue increasing by 16.2% to $9.75 billion.
July 29 - Real estate services provider CBRE (CBRE.N) raised its full-year profit forecast on Tuesday, citing robust demand across leasing and property segments along with favorable currency trends.
Shares of the company, offering leasing, mortgage servicing and property development, rose 6% in early trading.
The Dallas, Texas-based company’s U.S. leasing segment’s revenue rose 14% as businesses return to office spaces and expand leases.
“Despite uncertainty in the macro environment, occupier and investor clients largely proceeded with executing their plans,” said CEO Bob Sulentic.
The company’s quarterly leasing revenue rose worldwide, with an 18% increase in Europe, the Middle East and Africa, driven by higher leasing in the United Kingdom and Germany.
CBRE now expects 2025 core profit per share between $6.10 and $6.20, up from its prior forecast of between $5.80 and $6.10 per share.
The company posted core earnings per share of $1.19 for the second quarter, compared with analysts’ estimates of $1.07, according to data compiled by LSEG.
Its revenue for the quarter rose 16.2% to $9.75 billion, as compared to $8.39 billion from a year earlier.
