Jones Lang LaSalle Beats Expectations with Strong Q3 Performance
Jones Lang LaSalle reported third-quarter revenue of $6.51 billion and adjusted earnings of $4.50 per share, surpassing analyst forecasts. The company's success was driven by vigorous capital markets activity and increased share buybacks.
Financial Highlights
- Revenue rose 10% year-over-year, exceeding the $6.48 billion consensus.
- Adjusted net income reached $217.4 million, with EBITDA at $347.3 million, both outperforming Wall Street estimates.
- Free cash flow of $567.6 million fueled a 118% increase in share repurchases, reaching $70 million.
Business Drivers
Transactional revenue was boosted by gains in investment and debt advisory services. Meanwhile, project and workplace management services maintained steady recurring revenue streams.
Strategic Focus
Management emphasized significant investments in technology and artificial intelligence, which they regard as essential for long-term sustainable growth.
Outlook
Based on these results, the company raised its full-year profit guidance and expects the positive momentum to continue through the end of the year.
"Results keep optimism on the table."
Author's summary: Jones Lang LaSalle exceeded Q3 expectations with strong revenue growth and strategic tech investments, raising its profit outlook for sustained future momentum.
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