Robert Sulentic

“CBRE continued to produce excellent results in the third quarter. All four segments delivered strong growth and operating leverage, and we exceeded expectations we had going into the quarter.”

“Before I begin, it's important to note that Emma and I regularly reference our performance relative to expectations during these quarterly calls. In office, the expectations we are referencing are based on the outlook we provided during our most recent quarterly call.”

“Lower core EPS in the third quarter reflected a sharp deterioration in the macro environment, particularly with regard to capital availability for transactions.”

“As you've seen, we had a strong finish to 2021 significantly outperforming both Q4 2020 and the pre-pandemic peak in Q4 2019. This capped an outstanding year for CBRE with all key financial benchmarks reaching new all-time highs for the company.”

“The results we reported this morning highlight the progress CBRE has made in building a more resilient business since the last downturn occurred more than a decade ago.”