CBRE reported a 12.7% increase in third-quarter revenue to $11.517 billion and a 22% rise in net income attributable to the company to $443 million. Its 22 October 2026 release showed improvement in both reported and core earnings, but the two use different accounting bases. Reported earnings per share reached $1.52, while non-GAAP core EPS was $2.05.
The results cover the quarter ended 30 September 2026. All monetary amounts below are US dollars. The issuer rounded revenue growth to 13% in its highlights; the financial table gives the more precise 12.7%.
Quarterly financial comparison
| Measure | Q3 2026 | Comparison or basis | Official evidence |
|---|---|---|---|
| Revenue | $11.517 billion | $10.221 billion in Q3 2025 | Issuer financial report |
| Net income attributable to CBRE, GAAP | $443 million | $363 million in Q3 2025 | Issuer financial report |
| Core adjusted net income, non-GAAP | $599 million | $481 million in Q3 2025 | Issuer financial report |
| Reported EPS | $1.52 | $1.21 in Q3 2025 | Issuer financial report |
| Core EPS, non-GAAP | $2.05 | $1.60 in Q3 2025 | Issuer financial report |
| Operating cash flow | $869 million | $827 million in Q3 2025 | Issuer financial report |
| Free cash flow, issuer-defined non-GAAP | $927 million | $779 million in Q3 2025 | Issuer financial report |
Two reading traps: periods and cash definitions
CBRE highlighted $4.5 billion of infrastructure-services revenue, up 50%, on a trailing-12-month basis. That is a year-long measurement window, not $4.5 billion of revenue earned in this quarter. The same period distinction applies to the headline operating-cash-flow and free-cash-flow figures of $1.4 billion and $1.8 billion.
CBRE’s quarterly free cash flow is not simply operating cash flow minus capital spending. The issuer adds the gain on sales of real-estate assets: $869 million plus $184 million minus $126 million equals $927 million. A gain is an accounting measure; readers should inspect this definition before comparing the number with another company’s free cash flow.
Keep the alternative earnings alongside the accounts
Core EPS removes specified items under CBRE’s reconciliation. It is designed to supplement, not replace, reported EPS. Higher revenue, core profit and attributable accounting profit answer related but different questions about the business.
The release does not establish that every element of growth was organic or that stronger earnings will produce a positive share-price return. For this report, the verified development is the company’s financial result, not a claim about market performance.
For another example of separating reported earnings from alternative measures, see CapKet’s Comcast earnings report.
Official sources and verification
Issuer financial report and Companion official source were checked. The companion source is another format or issuer publication record, not independent corroboration. Source observations: 2026-10-22T19:45:31.231Z; 2026-10-22T19:47:50.469Z. AI-assisted primary-document review; no independent human editorial approval or investment advice is claimed.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.