JLL reports record third-quarter 2019 revenue performance
Revenue increased 13% (15% local currency1) to $4.5B; fee revenue1 increased 14% (16% local currency1) to $1.8B
CHICAGO, November 5, 2019 — Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the third quarter of 2019 with diluted earnings per share of $2.47 and adjusted diluted earnings per share1 of $3.52.
- Record Real Estate Services revenue and fee revenue up 15% (17% local currency) and 20% (22% local currency), respectively
- Americas Capital Markets and Leasing fueled this exceptional growth
- Corporate Solutions double-digit increase further strengthened annuity base
- Tremendous progress on HFF integration and outstanding results in first quarter following acquisition
- Margins reflected continued healthy organic Real Estate Services expansion
- LaSalle achieved a 19% increase in advisory fees, extending annuity growth momentum
- Completed multi-year transformational implementation of financial and HR platforms
- New $200 million share buyback program authorized and $0.43 per share dividend declared
“Record revenue, continued margin expansion in our Real Estate Services business and significant progress in the integration of our HFF acquisition drove another very successful quarter for JLL,” said CEO Christian Ulbrich. “We enter the fourth quarter with strong momentum and are confident in our ability to achieve excellent full-year results.”
(1) For discussion of non-GAAP financial measures, see Note 1 following the Financial Statements in this news release.
(2) In conjunction with the July 1, 2019, acquisition of HFF, 5.7 million shares of JLL common stock were issued, increasing the weighted average shares outstanding.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.