JLL Reports Financial Results for First-Quarter 2024
Diluted earnings per share were $1.37, up from a loss of $0.19 last year; adjusted diluted earnings per share(1) were $1.78, up from $0.71
CHICAGO, May 6, 2024 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the first quarter of 2024. Modestly higher Transactional revenues, following a softer 2023, complemented continued Resilient business line revenue growth and the benefits of cost mitigation actions taken over the last twelve months to drive strong profit performance.
- First-quarter revenue was $5.1 billion, up 9% in local currency1
- Resilient6 revenues collectively increased 12% in local currency and Transactional6 revenues collectively increased 1% in local currency1
- Work Dynamics achieved double-digit growth, highlighted by continued momentum in Workplace Management from recent wins
- Property Management, within Markets Advisory, increased 8% with contributions from most geographies
- Capital Markets delivered broad-based growth, up 6%, despite first-quarter investment sales market volumes being at a 12-year low
- Leasing, within Markets Advisory, increased 2% as performance in the U.S. office sector outpaced declines in other regions and sectors
- Work Dynamics achieved double-digit growth, highlighted by continued momentum in Workplace Management from recent wins
- Bottom-line improvement reflected revenue growth and the benefit of cost mitigation actions
"JLL's strong start to 2024 was driven by growth in both our resilient and transactional business lines. In addition, the impact of our cost actions over the last year allowed us to meaningfully improve our profitability while still investing in our business to take advantage of growth opportunities ahead," said Christian Ulbrich, JLL CEO. "With an uncertain outlook, our clients are relying on JLL's advisory services, data capabilities and real estate expertise more than ever. We continue to execute on our strategy, focusing on helping our clients navigate a difficult commercial real estate environment and delivering value for our stakeholders."
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 108,000 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.