CHICAGO - Jones Lang LaSalle Incorporated (NYSE: JLL) reported strong third-quarter results that beat analyst expectations, sending shares up 3.6% in early trading.
The real estate services firm posted adjusted earnings per share of $3.50, significantly above the $2.74 consensus estimate. Revenue rose 15% year-over-year to $5.87 billion, also surpassing the $5.62 billion analysts were expecting.
JLL saw broad-based growth across its business segments in Q3. Leasing revenue jumped 21% to $665.4 million, driven by strength in the U.S. office market. Capital Markets revenue increased 14% to $498.8 million as momentum built in investment sales and debt/equity advisory. The company's Work Dynamics segment, which includes facilities management services, grew revenue 16% to $4.07 billion.
"JLL achieved strong third-quarter revenue and profit growth fueled by continued high demand for our outsourcing services and an acceleration in transactional activity," said CEO Christian Ulbrich. "Amidst a dynamic macro backdrop, our combination of data insights, talented people, and investments in our platform and technology is enhancing the way we work, delivering innovative capabilities our clients value."
The company's adjusted EBITDA rose 37% year-over-year to $298.1 million in Q3. JLL ended the quarter with $437.8 million in cash and a net leverage ratio of 1.4x.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.