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CBRE Group's adjusted Q1 EPS up 13% YOY

CBRE Group Inc.said its adjusted EPS rose 13% in the first quarter to 36 cents, compared to 32cents in the 2015 quarter.

First-quarter adjusted net income attributable to the companyclimbed 14% to $120.8 million, compared to $106 million in the prior-year quarter.

On a GAAP basis, first-quarter net income attributable to thecompany came to $82.2 million, or 24 cents per share, compared to $92.9 million,or 28 cents per share, in the year-ago period. The company attributed the differenceto $17.0 million of acquisition-related non-cash amortization, $11.6 million ofintegration costs associated with the Global Workplace Solutions acquisition, and$8.8 million incurred in the cost elimination program.

The S&P Capital IQ consensus normalized EPS estimate forthe first quarter was 34 cents.

The company affirmed its full-year 2016 adjusted EPS guidanceof $2.27 to $2.37.

The S&P Capital IQ consensus normalized EPS estimate for2016 is $2.25.