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CBRE · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 15.5% y/y to $11.23B, operating margin 3.3% vs 3.8%, net income $204M (−5.1% y/y).
Net income attributable to CBRE Group, Inc.
$204M
down 5.1% y/y
Revenue
$11,226M
up 15.5% y/y
Operating income
$365M
down 2.4% y/y
- Net income attributable to CBRE Group, Inc. −5.1% — non-cash increase in the reserve for fire-safety remediation in the U.K. development business
Source
«Second-quarter GAAP net income was reduced by $168 million due to the non-cash impact of an increased reserve for fire-safety remediation in the U.K. development business.»
press release, 8-K
All figures in $M.
| Line item | Amount and change |
|---|---|
| Revenue | $11,226 · +15.5% |
| Cost of revenue | $9,140 · +15.1% |
| Operating, administrative and other | $1,536 · +20.5% |
| Depreciation and amortization | $190 · +31.0% |
| Gain on disposition of real estate | $5 · −73.7% |
| Operating income | $365 · −2.4% · 3.3% margin |
| Equity income (loss) from unconsolidated subsidiaries | $4 · vs −$18 |
| Other income | $6 · +0.0% |
| Interest expense, net of interest income | $60 · +1.7% |
| Income before provision for income taxes | $315 · +4.7% |
| Provision for income taxes | $68 · +11.5% · 21.6% effective rate |
| Less: Net income attributable to non-controlling interests | $43 · +72.0% |
| Net income attributable to CBRE Group, Inc. | $204 · −5.1% · $0.69/sh · 1.8% margin |
Verdict: revenue grew 15.5% y/y to $11.23B, operating margin 3.3% vs 3.8%, net income $204M (−5.1% y/y).
Source and notation
Source: CBRE press release, 8-K EX-99.1 of 07/29/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: CBRE, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “CBRE Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/cbre/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/cbre/q2-2026"><img src="https://whoreportstoday.com/t/cbre/q2-2026/sankey.png" alt="CBRE Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/cbre/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/cbre/q2-2026">CBRE Q2 2026 earnings chart (Who Reports Today)</a>
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- Operating income was $365M, a 3.3% margin vs 3.8% a year earlier.
- The effective tax rate was 21.6% vs 20.3% a year earlier.
- Diluted EPS was $0.69 vs $0.72 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
CBRE — a commercial real estate services and investment firm that works for property investors and occupiers in more than 100 countries.
It earns money in four segments: Advisory Services (leasing, capital markets, valuation, property management), Building Operations & Experience (facilities management and flexible workplaces), Project Management, and Real Estate Investments (investment management and development). · Source: annual report (Form 10-K, SEC)
Heads-up
- net income fell 5% y/y in Q2 2026
Net income for Q2 2026: $204M, −5% y/y. In the report's figures: costs grew faster than revenue: depreciation and amortization +31% y/y, less: net income attributable to non-controlling interests +72% y/y. The company explains: non-cash increase in the reserve for fire-safety remediation in the U.K. development business (press release, 8-K). Based on the Q2 2026 report.
The company's report ↗More reports: CCI · Q3 2026 · CPT · Q2 2026 · CSGP · Q2 2026 · DLR · Q2 2026 · DOC · Q2 2026 · EQIX · Q2 2026 · ESS · Q3 2026 · EXR · Q2 2026 · FRT · Q2 2026 · HST · Q2 2026 · all reports