Jones Lang LaSalle Q3 revenue up 12%, slightly beats estimates
Overview
Global real estate services firm's Q3 revenue up 12%, slight beat vs analyst expectations
Adjusted EPS rose 50% to $6.76, beating analyst estimates
Company to launch new $500 mln accelerated share repurchase, full-year buybacks over $1 bln
Outlook
JLL raises full-year 2026 adjusted EPS target range, reflecting 37% growth at midpoint
Company expects strong finish to 2026, citing robust pipelines and operating trends
Result Drivers
LEASING ADVISORY GROWTH - Strong US leasing activity, especially in industrial, office and data center sectors, drove a 27% increase in Leasing Advisory revenue, with larger average deal sizes and higher commission rates
CAPITAL MARKETS SERVICES - Broad-based growth in investment sales, debt advisory and equity advisory transactions, particularly in the US and Japan, contributed to a 21% rise in Capital Markets Services revenue
WORKPLACE & PROJECT MANAGEMENT - Workplace Management and Project Management within Real Estate Management Services saw continued momentum and double-digit growth, supported by mandate expansions and new client wins
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $7.28 bln | $7.24 bln (8 Analysts) |
Q3 Adjusted EPS | Beat | $6.76 | $6.16 (10 Analysts) |
Q3 EPS | $6.85 | ||
Q3 Adjusted Net Income | Beat | $315.50 mln | $286.54 mln (6 Analysts) |
Q3 Adjusted EBITDA | Beat | $460.20 mln | $427.23 mln (9 Analysts) |
Q3 Free Cash Flow | $556 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "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 Incorporated is $417.33, about 39.1% above its October 27 closing price of $299.93
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
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Oct 27 - BXP Q3 revenue rises on property sale gains; raises 2026 EPS, FFO guidance
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(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.)