Chicago–Jones Lang LaSalle (NYSE: JLL) reported strong third-quarter results, highlighted by double-digit revenue growth and a sharp increase in earnings, driven by momentum across both its transactional and resilient business segments.
The global real estate services giant posted diluted earnings per share of $4.61, up 45% from a year earlier, and adjusted diluted EPS of $4.50, a 29% increase, according to the company’s earnings release.
Total revenue rose 10% in local currency to $6.5 billion, led by a 13% increase in Transactional revenues and a 9% gain in Resilient revenues. The company said its Resilient segment has now posted growth every quarter since its 2022 reorganization.
Strong Growth Across Business Lines
JLL said its Real Estate Management Services business continued its top-line expansion, up 10% year-over-year, supported by robust performance in Project Management and Workplace Management.
Its Capital Markets Services division delivered 22% growth, fueled by strong activity in debt advisory, investment sales, and equity advisory. The Leasing Advisory business also outpaced broader market volumes, rising 8%, with notable strength in office leasing globally and U.S. industrial markets.
JLL said profit margins expanded in the quarter due to both higher revenues and improved operational efficiency across its global platform.
Record Operating Cash Flow and Share Repurchases
The company reported $182.3 million in year-to-date cash from operating activities, marking its highest level through three quarters since 2021.
JLL also increased its share repurchase activity, buying back $70 million of stock during the third quarter and $131.2 million year-to-date, up 118% compared with the same period last year.
CEO: “Momentum Continuing Into Q4”
“JLL achieved strong top- and bottom-line results as well as impressive free cash flow generation in the third quarter, led by an acceleration in transactional revenue and ongoing momentum in our resilient businesses,” said Christian Ulbrich, JLL CEO, in a statement.
He added that the company is raising the midpoint of its full-year Adjusted EBITDA target, citing confidence in continued growth through the end of 2025.
“As the pace of innovation further accelerates, the close alignment between our data, technology and AI capabilities with our core businesses position us well to deepen our client relationships and drive long-term profitable growth,” Ulbrich said.
