Commercial real estate firm CBRE (NYSE:CBRE) will be reporting earnings tomorrow before market open. Here's what to expect.

CBRE beat analysts' revenue expectations by 6% last quarter, reporting revenues of $8.95 billion, up 9.2% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts' revenue and earnings estimates.

Is CBRE a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting CBRE's revenue to grow 7.3% year on year to $7.95 billion, improving from the 1.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.69 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CBRE has missed Wall Street's revenue estimates twice over the last two years.

Looking at CBRE's peers in the real estate services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Cushman & Wakefield's revenues decreased 2.9% year on year, meeting analysts' expectations, and Anywhere Real Estate reported flat revenue, falling short of estimates by 1.8%. Cushman & Wakefield traded down 2.7% following the results while Anywhere Real Estate was also down 4.6%.

Read our full analysis of Cushman & Wakefield's results here and Anywhere Real Estate's results here.

Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed inflation signals have led to uncertainty around rate cuts, and while some of the real estate services stocks have fared somewhat better, they have not been spared, with share prices down 6.1% on average over the last month. CBRE is down 9.6% during the same time and is heading into earnings with an average analyst price target of $104.1 (compared to the current share price of $86.27).

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