Abstract

Jones Lang LaSalle will release its quarterly results on February 18, 2026 Pre-Market; this preview consolidates the latest company forecasts and institutional commentary to frame revenue, margins, EPS, and segment dynamics for the upcoming print.

Market Forecast

Consensus and company-level projections indicate revenue of $7.45 billion for the current quarter, with year-over-year growth of 11.02%; forecasts imply EPS of 7.33, EBIT of $454.86 million, and top-line YoY growth of 11.02%, while YoY EPS growth is 23.96% and YoY EBIT growth is 20.56%. Forecast commentary points to continued resilience in Real Estate Management Services and gradual recovery in transaction-led businesses; the most promising segment appears to be Real Estate Management Services with revenue of $4.98 billion last quarter and an improving demand backdrop.

Last Quarter Review

Jones Lang LaSalle reported revenue of $6.51 billion, a gross profit margin of 51.58%, GAAP net profit attributable to the parent company of $223.00 million, a net profit margin of 3.42%, and adjusted EPS of 4.50, with year-over-year adjusted EPS growth of 28.57% and revenue growth of 223.58%. One notable highlight was a sharp quarter-on-quarter rebound in net income, with net profit increasing by 98.40% compared to the prior quarter, reflecting strong cost discipline and improved operating leverage. Main business highlights show Real Estate Management Services driving the quarter with $4.98 billion in revenue, complemented by Leasing Advisory at $741.90 million and Capital Markets Services at $612.10 million, while Investment Management and Software and Technology Solutions contributed $115.40 million and $58.60 million, respectively.

Current Quarter Outlook

Main business: Real Estate Management Services

Real Estate Management Services remains the anchor for Jones Lang LaSalle’s revenue base in the current quarter. This unit’s scale, recurring fee profile, and contractual visibility typically provide stability through market cycles, and the company’s forecast implies that this steadiness should continue to underpin consolidated margins. With broad geographic exposure and diversified asset types under management, incremental occupancy normalization and operating expense pass-throughs can support modest margin expansion even if transaction activity remains mixed. The segment’s pricing updates, retention performance, and potential cross-sell into energy optimization and facilities technology solutions will be watched as incremental drivers for EBIT.

Most promising segment: Leasing Advisory

Leasing Advisory is poised to benefit from gradually improving office demand where tenants are rightsizing footprints and prioritizing higher-quality, amenitized assets. The last quarter’s $741.90 million revenue base offers leverage to any pickup in signed leases, and management’s current-quarter revenue and EBIT guidance suggest healthier pipelines, aided by sectors like logistics, life sciences, and selective tech hubs. A key variable is the balance between concessions and face rents; if concessions moderate while effective rents stabilize, revenue recognition could improve faster than headline leasing volume. Market-level strength in Sunbelt and resilient suburban submarkets may offset softness in older, non-renovated CBD stock, supporting the company’s blended leasing growth trajectory.

Stock-price drivers this quarter: Margins, transaction velocity, and fee resilience

The earnings reaction will likely hinge on gross margin consistency and net margin progress versus guidance, alongside the mix of fee-based versus transaction-based revenue. Investors will parse the EBIT print of $454.86 million and EPS of 7.33 against the implied top-line trajectory to gauge operating leverage amid a shifting rate environment. If capital markets activity shows signs of recovery, particularly in industrial and multifamily, the path to above-consensus EPS could be reinforced, while any shortfall in advisory closings would place more weight on the durability of management services fees. The cadence of cost control, technology-enabled service delivery, and cross-border client mandates may further influence sentiment around full-year profitability.

Analyst Opinions

Analyst sentiment skews bullish, with institutions highlighting improving revenue visibility and an anticipated rebound in transaction activity relative to last year’s troughs. Recent previews emphasize that the company’s guidance for revenue growth of 11.02% and EPS growth of 23.96% sets a constructive tone for operating leverage as higher-margin advisory work slowly returns. Well-followed analysts describe momentum in Real Estate Management Services as an anchor and point to early signs of pickup in Leasing Advisory pipelines, consistent with broader commercial property stabilization narratives in select U.S. and European markets. Bulls argue that fee resilience, ongoing cost discipline, and gradual normalization in capital markets could support upside to EBIT, while valuation remains sensitive to quarterly proof points on gross margin and closing volumes.