CBRE Group Inc (CBRE) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.240 Greetings, and welcome to the CBRE fourth quarter 2025 earnings conference call and webcast. 00:00:06.240 -- 00:00:10.125 At this time, all participants are in listen-only mode. 00:00:10.125 -- 00:00:12.829 A question and answer session will follow the formal presentation. 00:00:12.829 -- 00:00:17.776 You may be placed in the question queue at any time by pressing star 1 on your telephone 00:00:17.776 -- 00:00:21.702 keypad, and we ask that you please ask one question, one follow-up, then return to the 00:00:21.702 -- 00:00:25.227 queue. As a reminder, this conference is being recorded. 00:00:25.227 -- 00:00:30.507 If anyone should require operator assistance, please press star 0. 00:00:30.507 -- 00:00:36.036 It's now my pleasure to turn the call over to Chandni Luthra, Global Head of FP&A 00:00:36.036 -- 00:00:39.662 and Investor Relations. Please go ahead. 00:00:39.662 -- 00:00:44.490 Good morning, everyone, and welcome to CBRE's fourth quarter 2025 earnings conference 00:00:44.490 -- 00:00:49.578 call. Earlier today, we posted a presentation deck on our website that you can use to 00:00:49.578 -- 00:00:54.386 follow along with our prepared remarks and an Excel file that contains additional supplemental 00:00:54.386 -- 00:00:59.122 materials. Today's presentation contains forward-looking statements, including, without 00:00:59.122 -- 00:01:04.167 limitation, statements concerning our business outlook, business plans, seasonality, 00:01:04.167 -- 00:01:09.053 and capital allocation strategy, as well as our earnings and cash flow outlook. 00:01:09.053 -- 00:01:13.998 These statements involve risks and uncertainties that may cause actual results and trends 00:01:13.998 -- 00:01:18.943 to differ materially. For a full discussion of t...