Jones Lang LaSalle Incorporated (JLL) Misses Q1 EPS by 46c, Revenues Beat

Jones Lang LaSalle Incorporated (NYSE: JLL) reported Q1 EPS of $0.49, $0.46 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $4.1 billion versus the consensus estimate of $1.5 billion.

• Record consolidated revenue of $4.1 billion and fee revenue1 of $1.5 billion, increased 9% and 15%, respectively
  • Americas Leasing extended impressive trend of quarterly growth
  • Organic RES fee revenue growth of 5% despite COVID-19 challenges
  • Double-digit increase in facilities management fueled Corporate Solutions
• Non-cash charges related to COVID-19 significantly impact otherwise healthy margin development
• Capital Markets showed platform strength and reflected excellent progress on HFF integration
• LaSalle double-digit advisory fee growth reflected strong capital raising momentum

"We entered 2020 with significant momentum, which produced solid first quarter results," said Christian Ulbrich, JLL CEO. "Once again, our Americas business had another strong quarter while our EMEA and Asia Pacific segments showed impressive resilience as the impact of the COVID-19 pandemic increased throughout the quarter. We are marshalling JLL's considerable capabilities to keep our employees safe and productive, support our communities and serve our clients in this uncertain environment."

For earnings history and earnings-related data on Jones Lang LaSalle Incorporated (JLL) click here.

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