CBRE · CBRE Group Q2 FY2026 earnings call record财报电话会记录

“Global property sales revenue grew 20%, led by the U.S., which grew 24%, with double-digit increases across most major property types.”

“In our Project Management segment, revenue grew 19%, underpinned by solid Infrastructure activity, which increased 30%, while real estate related services grew 13%.”

“Across all regions, hyperscaler and technology clients showed significant activity.”

“SOP grew 28% with notable operating leverage, which we expect to moderate in the back half of the year given the timing of costs.”

“For the full year, we remain on track to achieve near the high end of our free cash flow conversion range of 75%-85%.”

“As Bob indicated, we now expect full year Core EPS of $7.80-$7.90, up from $7.60-$7.80 previously.”

“Without that change, the margin for the year will improve by 20 basis points or so.”

“We think by the year 2030, we could have a $10 billion business with over $1 billion of EBITDA related to Infrastructure.”

“In terms of the 2027 commentary for EPS growth of at least 15%, is it reasonable to expect double-digit revenue growth?”

“Some operating leverage across our segments, but not a tremendous amount.”

“I'm just curious, what you're seeing, what the pipeline looks like, and is there any sort of concern about just funding and debt markets and how that business kind of moves forward?”

“Secondly, what we saw in the quarter was lots of uncertainty around debt and the cost of debt, some things happened.”