JLL reports financial results for second-quarter 2024
Diluted earnings per share were $1.75, up from $0.05 last year; adjusted diluted earnings per share (1) were $2.55, up from $2.12
CHICAGO, August 6, 2024 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the second quarter of 2024.
Continued momentum in Resilient6 business line revenue was complemented by solid growth in Transactional6 revenues. These revenue factors, along with the benefit of recent and ongoing cost management efforts, helped deliver strong profit performance for the second quarter.
- Second-quarter revenue was $5.6 billion, up 12% in local currency1
- Resilient6 revenues increased 16% in local currency and Transactional6 revenues grew 5% in local currency
- Work Dynamics again achieved double-digit growth, highlighted by a 19% increase in Workplace Management
- Property Management, within Markets Advisory, was up 8% with contributions from most geographies
- Leasing, also within Markets Advisory, increased 5% with broad-based geographic growth led by improvement in the office sector
- Capital Markets delivered modest growth, up 3%, even as investment sales market volumes remain historically suppressed
- Continued profitability improvement primarily driven by revenue growth and the benefit of cost mitigation actions
- Higher cash provided by operating activities contributed to nearly $150 million decrease in net debt for the quarter and improved leverage ratio
"We are pleased with our second quarter results as Work Dynamics led strong resilient revenue growth and our transactional business lines benefited from investments we have made to take advantage of greater commercial real estate activity,” said Christian Ulbrich, JLL CEO. “Our bottom-line performance demonstrated the success of our recent and ongoing cost management efforts. In addition to remaining focused on scaling our platform as we anticipate future growth, our connected and diversified platform, along with strategic investments to further differentiate our business, will enhance long-term stakeholder value.”
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.