CBRE Group profit higher, but hit by strong dollar

• Q2 adjusted net income of $140M up 18% Y/Y; adjusted EPS of $0.42 up 17%. Normalized EBITDA of $303.8M up 16%. Normalized EBITDA margin on fee revenue of 17.1%, up 60 basis points.
• Negative foreign currency effects cut several hundred basis points from all the above percentage gains.
• Company expects full-year adjusted EPS to be toward the upper end of previous guidance of $1.90-$1.95 per share.
• Previously: CBRE Group misses by $0.01, beats on revenue (July 29)
• CBG flat premarket