CB Richard Ellis Group (NYSE: CBG) is a commercial real estate services company offering a range of services to occupiers, owners and investors worldwide, via more than 300 offices.
The company recently released its Q2 earnings, showing a 21% increase in revenue, despite the lackluster market for residential and commercial real estate.
Despite continued uncertainty in the macro environment, revenue rose by double digits in nearly every service line in all three geographic regions. This performance illustrates the ability of our people and platform to drive continued business gains in a global economy that is still marked by slow, uneven growth.
The company attributes the growth in revenue from its property leasing and sales division, reflecting improved leasing performance in every geographic region. Additionally, loan origination and sale transactions each grew more than 40%, indicating there might be an improvement in commercial real estate. Though this may be considered a possible harbinger of an economic recovery, the company is quick to dampen these expectations:
While we continue to be mindful of the risks to the current recovery, commercial real estate markets generally remain in the early stages of a cyclical upturn. This recovery is not unfolding consistently as macro-economic and market-specific factors cause pockets of strength and weakness.
Only one Covestor model held CBG as of 7/27: Fortune’s Most Admired Companies, which contains approximately 21 companies, based primarily on fundamental valuation methods. The universe from which these companies will be selected is the total list of Fortune Magazine’s “Most Admired” companies, plus all other companies mentioned in that survey.
Read CBG’s earnings press release here.
Sources:
“CB Richard Ellis Group, Inc. Reports Continued Revenue and Earnings Growth for Second Quarter 2011” CBG Press Releasehttps://www.marketwatch.com/story/cb-richard-ellis-group-inc-reports-continued-revenue-and-earnings-growth-for-second-quarter-2011-2011-07-27?reflink=MW_news_stmp
