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.)