CBRE Q3 2026: Data Centers on Fire, Deals on Ice — Earnings Deep Dive
CBRE Group beat on core EPS ($2.05 vs $1.96 consensus, up 28%) but missed on revenue ($11.5B vs ~$11.8B expected). Alex and Jordan break down the tale of two companies: critical infrastructure services up 80% on the data-center buildout (path to ~$7B in 2027 revenue) versus a transaction business stuck in neutral as rate uncertainty freezes deals. FY26 core EPS guidance maintained at $7.80-$7.90 (23% growth); a sketched path to +15% in 2027. The Onnec acquisition fills the non-U.S. data-center footprint, buybacks slow as M&A takes priority, and the bull-vs-bear debate on the…
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