Trade Real Estate Giant CBRE, bulging waters due to tariffs: ‘Outlook was less clear’

• CBRE defeated earnings evaluations, but managers received a more cautious toneFear of economic uncertainty and decay, because the president is due to the tariff agenda, maintaining more management than raising it.

The world’s largest trading real estate services company sent one gain Beat but sees the bulging waters ahead. Blames the president’s tariffs.

“The uncertainty created by the tariff situation was less clear,” said CBRE chairman and chief executive Bob Sulentic, called on a profit on Thursday morning.

Despite the increase in income and income per share, the company chose to protect his leadership for the year, after which the head financial officer Emma Giamartino said.

“Things are not really good, not good,” the total compensation last year is worth $ 22 million. “We ended with strong pipelines in the quarter … But we saw some effects of what happened with tariffs.”

Sulugential, real assets include some capital in the investment and operating investment management department, as well as working activities in the project management work, and evaluating operations. “We really went to where there is not a little bit slight there from an enthusiastic picture,” he said.

But the office can be immunity. Faced with the nearby nearby nearby offices may finally end – something cbre signal When the last gives you a profit. CHIPPINES CBRE sees, so far does not affect office leases. In fact, the offices are not doing a lot in the last few years and calling companies to re-tables. According to CBRE, Giamartino, the highest quarter of the first quarter has increased the 38% increase in office leasing.

Two managers caught a careful ton, stressed that CBRE’s strength in the call, it stressed that it was better placed for a better recession when leaving a large financial crisis. “If you put our work with the same type of recession in GFC, our descent would be low,” said Giamartino. “So GFC, our disgrace was 85% peak. Now it would be less than half.”

CBRE did not respond immediately Lucky Required for additional comments.

The company received $ 5.1 billion in net income, 15% increase in the same period last year, and a pore of core by $ 0.86. Again, forecasts the main earnings per share between 5.80 and $ 6.10 for the year. Shares rose after gaining 1.7% of the 3rd east.

Again, the President puts his part tariff mode did not give uncertainty on the ice. Donald Trump posted 10% quilt taxes to other countries after announcing a period of 90 days, and more Chinese taxes continue to emphasize.

“If we take into account the considerable uncertainty, this has made us our attitude to what causes the risk of recession than before,” he said. “It causes higher risk of people outside because they do not want to act in indefinite times,” he said.

Continued: “We do not have an idea of ​​only it. All this is a lot of uncertainty, not a lot of recession, which has not previously disappeared.”

Last year, $ 22 million compensation was more than we had earned in 2023, but was less than 2022, the latest lawyer detected. Giamartino’s total compensation was estimated at about $ 7 million last year, an increase in two years ago.

This story was first displayed Fortune.com

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