CB Richard Ellis Group, Inc. (NYSE:CBG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.08%.
CB Richard Ellis Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.29% to $0.16 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 9.27% to $1.48 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CB Richard Ellis Group, Inc. reported adjusted EPS income of $0.16 per share. By that measure, the company missed the mean analyst estimate of $0.17. It beat the average revenue estimate of $1.45 billion.
Quoting Management: “We had a solid start to 2013 in what is traditionally our seasonally slowest quarter of the year,” said Robert Sulentic, president and chief executive officer of CBRE. “While the current recovery remains slower than previous ones, our first quarter results underscore our people’s effectiveness at working across markets and business lines to produce solutions for our clients and growth for CBRE. We were particularly encouraged by the good growth we achieved in all three regions, led by Europe.
Key Stats (on next page)…
Revenue decreased 26.46% from $2.01 billion in the previous quarter. EPS decreased 70.91% from $0.55 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.35 and has not changed. For the current year, the average estimate has moved up from a profit of $1.36 to a profit of $1.42 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)