$CBRE · CBRE GROUP, INC.

CBRE Group reported Q3 2026 results with GAAP EPS of $1.52 (up 26% YoY) and Core EPS of $2.05 (up 28% YoY) on revenue of $11.5 billion (up 13% YoY). Infrastructure services revenue hit $4.5 billion on a trailing 12-month basis, up 50%. Free cash flow reached $1.8 billion TTM, and the company repurchased nearly $1.2 billion in shares year-to-date.

Extended-hours trading shows CBRE down 2.93% to $130.97 vs the regular close of $134.93, despite broad-based beats across revenue, EPS, and cash flow. The selloff may reflect profit-taking after a strong run or concern about the Project Management segment's slowing growth (3% revenue, tempered by corporate capex pullback).

CBRE's infrastructure pivot is paying off at scale — $4.5B TTM and growing 50% — while core real estate services show broad-based double-digit growth, making this a bellwether for the commercial real

CBRE's results highlight the bifurcation in commercial real estate services: transactional businesses (leasing +6%, property sales +28%) are recovering while infrastructure services (data centers, critical infrastructure) are the new growth engine, up 80% in the BOE segment alone.

Project Management revenue growth slowed to 3% as corporate capital spending on real estate pulled back. Mortgage origination revenue was flat, with lower government agency lending offsetting private capital gains. The overall portfolio of in-process development projects was unchanged sequentially.