Record Performance in Q4 2024: CBRE achieved its best quarter ever for core earnings and free cash flow, with resilient businesses (facilities management, project management, property management) growing net revenue by 16% in Q4 and 14% for the year. Total SOP (System Operating Profit) contributions from resilient businesses matched 2023 levels, accounting for nearly 60% of the total SOP.
Positive 2025 Outlook: The company forecasts core EPS in the range of $5.80 to $6.10 for 2025, representing over 16% growth at the midpoint, supported by mid-teens SOP growth across resilient business lines, strong leasing momentum, and an ongoing recovery in capital markets.
Capital Market Recovery Uncertainty: While capital market transaction activity picked up in Q4 2024 with a 35% revenue growth in global property sales, it remains below peak levels (40% of 2021 transactions). Guidance indicates cautious optimism for 2025 with continued growth, but risks remain related to interest rate fluctuations and economic conditions.