What caused CIGI's earnings to rebound in Q4 2024?

Colliers International Group Inc. (CIGI) experienced a notable rebound in its earnings for the fourth quarter of 2024, primarily driven by strong revenue growth across its operating segments and strategic initiatives. Here are the key factors that contributed to this rebound:

1. **Strong Revenue Growth**: CIGI's revenue for Q4 2024, increased by 22% year-over-year, reaching $1.5 billion. This significant uptick was primarily fueled by a 13% overall growth in Real Estate Services and a 61% increase in Engineering Revenue.
2. **Capital Markets and Office Revenue**: Within Real Estate Services, Capital Markets saw a 25% increase, particularly in Europe and the Americas. This segment's revenue growth was bolstered by strategic acquisitions and a recovery in capital markets activities. Meanwhile, the Office segment experienced a 77% revenue growth, reflecting robust demand for office spaces despite broader market uncertainties.
3. **Investment Management Growth**: Although the Investment Management segment faced fundraising challenges, it still achieved a 6% overall revenue growth, excluding pass-through performance fees. This indicates a resilience in demand for investment management services and a successful adaptation to market conditions.
4. **Asset Management and New Capital Commitments**: CIGI's Assets Under Management (AUM) increased by $2.4 billion, reaching nearly $99 billion. The company successfully raised $1.3 billion in new capital commitments during Q4, with a full-year total of $3.8 billion. These funds will support future growth initiatives and reinforce the company's financial position.
5. **Leasing and Industrial Growth**: The Leasing segment grew by 6%, while Industrial Revenue saw a 19% increase, reflecting continued demand for logistics and industrial properties. These segments contributed to the overall revenue growth, diversifying the company's income streams.

In summary, CIGI's earnings rebound in Q4 2024 was primarily driven by strong revenue growth across its operating segments, strategic acquisitions, and successful capital raising efforts. These factors collectively contributed to a robust financial performance and an optimistic outlook for the company.