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MarketScreener Homepage  >  Equities  >  Nyse  >  CBRE Group, Inc.    CBRE

CBRE GROUP, INC.

(CBRE)
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CBRE : Q3 2020 Webcast Slides(opens in new window)

10/29/2020 | 06:05am EST

October 29, 2020

Q3 2020 EARNINGS CALL

F O R W A R D - LOOKING STATEMENTS

This presentation contains statements that are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding the impact of the Covid-19 pandemic on our business operations and financial position, CBRE's future growth momentum, operations, market share, business outlook, capital deployment, financial performance expectations, including profitability and margins, and the effect of cost-saving initiatives. These statements are estimates only and actual results may ultimately differ from them. Except to the extent required by applicable securities laws, we undertake no obligation to update or publicly revise any of the forward- looking statements that you may hear today. Please refer to our third quarter earnings release, furnished on Form 8-K, our most recent annual report and quarterly reports filed on Form 10-K and Form 10-Q, respectively, and in particular any discussion of risk factors or forward-looking statements therein, which are available on the SEC's website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements that you may hear today. We may make certain statements during the course of this presentation, which include references to "non-GAAP financial measures," as defined by SEC regulations. Where required by these regulations, we have provided reconciliations of these measures to what we believe are the most directly comparable GAAP measures, which are included in the appendix.

CBRE GROUP, INC.

Q3 2020 EARNINGS CONFERENCE CALL | 2

CONFERENCE CALL PARTICIPANTS

Bob Sulentic

President and Chief Executive Officer

Leah Stearns

Chief Financial Officer

Kristyn Farahmand

Vice President, Investor Relations & Corporate Finance

CBRE GROUP, INC.

Q3 2020 EARNINGS CONFERENCE CALL | 3

CONSOLIDATED RESULTS SUMMARY

$ IN MILLIONS EXCEPT PER SHARE FIGURES

3Q20

3Q19

USD

Local Currency1

Revenue

$5,645

$5,925

(5%)

(5%)

Fee Revenue

$2,529

$2,910

(13%)

(14%)

Adjusted EBITDA

$442

$455

(3%)

(3%)

Earnings Per Diluted Share2

$0.55

$0.75

(28%)

(30%)

Adjusted Earnings Per Diluted Share2

$0.73

$0.79

(8%)

(12%)

  • Third quarter results continued to be negatively impacted by COVID-19, while focus on cost discipline helped insulate profitability
    • Incurred $55m in expenses related to transformation initiatives
    • Reduced EPS by $0.13, impact excluded from Adjusted EPS
  • Strength in GWS and REI segments partially offset cyclical pressure in Advisory

1.Local currency percent changes versus prior year is calculated by comparing current year results at prior year exchange rates versus prior year results.

2. Current period results reflect $55 million of transformation initiative costs that were not in the prior period. These costs have been excluded from adjusted net income and adjusted EPS.

CBRE GROUP, INC.

Q3 2020 EARNINGS CONFERENCE CALL | 4

Definitions and reconciliations are provided at the end of this presentation.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CBRE Group Inc. published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 11:04:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 23 212 M - -
Net income 2020 739 M - -
Net Debt 2020 976 M - -
P/E ratio 2020 28,0x
Yield 2020 -
Capitalization 20 035 M 20 035 M -
EV / Sales 2020 0,91x
EV / Sales 2021 0,83x
Nbr of Employees 100 000
Free-Float 99,2%
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Technical analysis trends CBRE GROUP, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 57,57 $
Last Close Price 61,13 $
Spread / Highest target 4,69%
Spread / Average Target -5,82%
Spread / Lowest Target -14,9%
EPS Revisions
Managers
NameTitle
Robert E. Sulentic President, Chief Executive Officer & Director
Brandon Bridges Boze Chairman
J. Christopher Kirk Global Chief Operating Officer
Leah Canham Stearns Chief Financial Officer
Raymond E. Wirta Independent Director
Sector and Competitors