How did CIGI's Q4 2024 earnings surprise investors?

Colliers International Group Inc. (CIGI) delivered a strong Q4 2024 earnings report, surpassing investor expectations in several key metrics:

1. **Revenue Growth**: Colliers International Group reported a record $1.5 billion in revenues for Q4 2024, marking a 22% increase year-over-year. This growth was driven by robust performance across all business segments, including a 13% increase in Real Estate Services and a 61% surge in Engineering revenues.

2. **Net Income and Profitability**: The company reported a net income of $75.12 million for Q4 2024, up from $67.43 million in the same period the previous year. Earnings per share from continuing operations were $1.49 and $1.47 for diluted shares, respectively, compared to $1.42 for both in the prior year.
3. **Asset Growth and Fundraising**: Colliers International Group saw significant growth in Assets Under Management (AUM), reaching $98.9 billion by year-end. The company also raised $1.3 billion in new capital commitments during Q4 2024, with a full-year total of $3.8 billion.
4. **Financial Position and Outlook**: The company's balance sheet showed a leverage ratio of 2 times net debt to pro forma adjusted EBITDA, with over $1.2 billion in revolving credit facility capacity to support future growth. The positive outlook for fundraising and asset management is a testament to Colliers' strong financial position and ability to capitalize on market opportunities.

Overall, CIGI's Q4 2024 earnings exceeded investor expectations, driven by strong revenue growth, increased profitability, and strategic expansion. The company's robust financial position and positive outlook for the future reinforce investor confidence in its continued success.