Overview
JLL Q2 revenue rises 10%, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 up 29%, surpassing consensus estimates, per LSEG data
Co doubled share repurchases in Q2, reflecting confidence in performance
Outlook
JLL raises mid-point of full-year Adjusted EBITDA target range
Company cites strong performance in resilient businesses for outlook
Investments in platform and people to drive sustainable growth
Result Drivers
REVENUE GROWTH - JLL reports 10% increase in Q2 revenue, driven by Real Estate Management Services and Capital Markets Services
RESILIENT SEGMENTS - Workplace Management and Project Management within Real Estate Management Services saw significant growth, contributing to overall performance
CAPITAL MARKETS - Strong performance in debt advisory and investment sales led to 12% growth in Capital Markets Services
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $6.25 bln | $6.21 bln (7 Analysts) |
Q2 Adjusted EPS | Beat | $3.3 | $3.2 (8 Analysts) |
Q2 EPS | $2.32 | ||
Q2 Adjusted Net Income | Beat | $159.40 mln | $154.40 mln (6 Analysts) |
Q2 Adjusted EBITDA | Beat | $291.70 mln | $277.30 mln (7 Analysts) |
Q2 Free Cash Flow | $288.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy"
Wall Street's median 12-month price target for Jones Lang LaSalle Inc is $338.00, about 19.2% above its August 5 closing price of $273.02
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago
Press Release: ID:nPnvVQVQa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)