CBRE Group, Inc. (CBRE) CEO Bob Sulentic on Q2 2022 Results - Earnings Call Transcript

CBRE Group, Inc. (NYSE:CBRE) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET

Company Participants

Brad Burke - Head, IR

Robert Sulentic - President and CEO

Emma Giamartino - CFO and Investment Officer

Conference Call Participants

Anthony Paolone - JPMorgan

Chandni Luthra - Goldman Sachs

Steve Sakwa - Evercore ISI

Jade Rahmani - KBW

Operator

Greetings. Welcome to CBRE's Second Quarter 2022 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Brad Burke. You may begin.

Brad Burke

Good morning, everyone, and welcome to CBRE's Second Quarter 2022 Earnings Conference Call. Earlier today, we issued a press release announcing our financial results, which is posted on the Investor Relations page of our website, cbre.com, along with a presentation slide deck that you can use to follow along with our prepared remarks, as well as an Excel file that contains additional supplemental materials.

Before we kick off today's call, I'll remind you that our presentation contains forward-looking statements that involve a number of risks and uncertainties. Examples of these statements include our expectations regarding CBRE's future growth prospects, including our 2022 outlook, core EPS growth and long-term positioning, operations, market share, capital deployment strategy and share repurchases, financial performance, including leverage, profitability and cost management, the business environment, the performance of acquisitions and other transactions and any other statements regarding matters that are not historical fact. We urge you to consider these factors and remind you that we undertake no obligation to update the information contained on this call to reflect subsequent events or circumstances.

For a full discussion of the risks and other factors that may impact these forward-looking statements, please refer to this morning's earnings release and our most recent annual and quarterly reports filed on Form 10-K and Form 10-Q, respectively. We have provided reconciliations of the non-GAAP financial measures included in our remarks to the most directly comparable GAAP measures, together with explanations of these measures in the appendix of the presentation slide deck.

I'm joined on today's call by Bob Sulentic, our President and CEO; and Emma Giamartino, our Chief Financial and Investment Officer. Now please turn to Slide 5 as I turn the call over to Bob.

Robert Sulentic

Thank you, Brad, and good morning, everyone. CBRE had an outstanding second quarter with strength across our global businesses. All 3 business segments posted double-digit revenue and segment operating profit growth despite the significant currency headwinds that affected all U.S.-based global companies.