Double-digit revenue growth, coupled with ongoing cost discipline, drove strong bottom-line performance
News release
06 November 2024
JLL reports financial results for third-quarter 2024
Economics
Capital markets
Office
Financial services
CHICAGO, November 6, 2024 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the third quarter of 2024. Transactional6 revenue growth accelerated to double digits and complemented continued momentum in Resilient6 business line revenues. Diluted earnings per share were $3.20, up from $1.23 last year; adjusted diluted earnings per share1 were $3.50, up from $2.19.
Third-quarter revenue was $5.9 billion, up 15% in local currency1
Resilient6 revenues grew 16% in local currency and Transactional6 revenues were up 11% in local currency
- Leasing, within Markets Advisory, increased 21% with broad-based geographic and asset class growth led by U.S. office
- Capital Markets delivered 14% growth as momentum grew in investment sales and debt/equity advisory
- Work Dynamics extended its growth momentum, highlighted by a 20% increase in Workplace Management
Continued profitability improvement led by Transactional6 revenue growth and the combination of cost discipline and platform leverage
JLL enhanced digital leasing capabilities, closing on the acquisition of Raise Commercial Real Estate in mid-October
"JLL achieved strong third-quarter revenue and profit growth fueled by continued high demand for our outsourcing services and an acceleration in transactional activity," said Christian Ulbrich, JLL CEO. "Amidst a dynamic macro backdrop, our combination of data insights, talented people, and investments in our platform and technology is enhancing the way we work, delivering innovative capabilities our clients value. We are excited by significant opportunities in front of us and expect to continue to capitalize on them, driving meaningful and increasingly resilient top and bottom-line growth, financial returns, and cash flow generation."
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 111,000 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.