CBRE core EPS jumps 28% as revenue climbs 13% to $11.5 billion

CBRE Group's core earnings per share jumped 28% in the third quarter as both its steady services businesses and its deal-driven units grew by double digits.

Revenue rose 13% to $11.5 billion, according to the earnings release the commercial real estate services firm filed with an 8-K on Thursday. GAAP EPS climbed 26% to $1.52, and core EPS rose 28% to $2.05. Core EBITDA increased 28.5% to about $1.0 billion.

"Financially, core earnings per share improved 28% on a 13% revenue increase, with both resilient and transactional businesses growing by double digits," Chair and CEO Bob Sulentic said in the release.

Infrastructure push

CBRE highlighted its Critical Infrastructure Services line and broader infrastructure work, with infrastructure services revenue up 50% to $4.5 billion on a trailing 12-month basis.

In the Advisory Services segment, revenue rose 11% to $2.4 billion and segment operating profit increased about 16% to $467 million. Global leasing revenue rose 6%.

Cash and buybacks

Quarterly free cash flow was $927 million, up 19%. The company has repurchased nearly $1.2 billion of stock so far this year, and its net leverage ratio stood at 1.36 times core EBITDA at Sept. 30.

By the numbers

• Revenue: $11.5 billion, up 13%
• GAAP EPS: $1.52, up 26%
• Core EPS: $2.05, up 28%
• Q3 free cash flow: $927 million
• Year-to-date buybacks: nearly $1.2 billion

Sources

1. CBRE Group, Inc., Form 8-K (Item 2.02) with Exhibit 99.1 earnings release dated Oct. 22, 2026, accession 0001138118-26-000028

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