CBREs earnings before interest, taxes, depreciation, and amortization, or EBITDA, totaled $31.7 million for the second quarter, a decrease of $1.7 million from last year's same-period results. The company attributed the decrease to merger-related and other nonrecurring charges associated with the Insignia acquisition. It said those costs came to $3.3 million for both the three and the six months ended June 30.
CBRE is a privately held company, but it files public earnings reports with the Securities and Exchange Commission because the company has publicly traded bonds.
As reported recently on GlobeSt.com, the CB Richard Ellis $431 million acquisition of Insignia created a global real estate company with annual revenues of more than $1.7 billion and a total work force of more than 14,000 in more than 250 offices in 48 countries.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
