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AUTHOR
DATE
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11
member
10/24/24 4:58PM
Q3-24 earnings update
CBRE continues to fire on all cylinders. They're exceeding the upper-end of my expectations. Guidance revised up to FY EPS to $5 and management seems to already be very confident in a big year in... login to read the rest
Hi Humkae -- see below for our EBITDA bridge.
Key points of underwriting are getting comfortable with GWS (pipeline and then margin expansion opportunity over time), Development (management have said this will be a key go-forward... login to read the rest
Hi WittyWizard - Thank you for your questions.
You rightfully point out that in certain instances the originator of GSE financing assumes liability related to loan loss sharing. The loss sharing schedule you reference relates to... login to read the rest
Thanks for the write-up, have you quantified the impact on CBRE (worst case) if we see a string of defaults on multifamily loans? This was a risk highlighted in a Thirdbridge transcript (April) w a... login to read the rest
Thanks for sharing the thoughtful idea. Just had two quick questions on the numbers.
1) re: exit EPS. I see Visible Alpha 2028 NI consensus of $2.5bn, not $3bn. Also, that adjusted NI # already adds... login to read the rest
Hi AWJ - thanks for the question. There are two points to make here. First: investor sentiment seems to be, from conversations we have had, that the traditional brokerage/transactional business is core to the long-term... login to read the rest
Thanks for the write-up. One thing i struggle with these is Street modelling back to peak earnings sometime in 25. Meanwhile I look out the window and CRE is still in trouble. I agree on
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