Jones Lang Lasalle Inc
JLL
ISIN US48020Q1076 / Valor 485418
Jones Lang Lasalle Inc
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About company
Jones Lang LaSalle Incorporated (JLL) is a global professional services firm specializing in real estate and investment management. The company operates through various subsidiaries, including JLL Spark and LaSalle Investment Management, to offer a broad spectrum of services and solutions in the real estate sector. JLL Spark focuses on propelling the real estate industry forward by investing in technology-based innovations, leveraging the agility of a startup with the backing of JLL's extensive expertise and resources. It is led by seasoned entrepreneurs from Silicon Valley, aiming to introduce innovative products to real estate owners and operators through strategic proptech investments. On the other hand, LaSalle Investment Management, an independent subsidiary of JLL, stands as one of the world's largest and most diverse real estate investment management firms. It is dedicated to delivering competitive investment performance across economic and property market cycles for its clients, with a portfolio that includes real estate securities, commingled funds, and global indirect investments. JLL's service offerings encompass buying, building, occupying, and investing in various assets such as industrial, commercial, retail, residential, and hotel real estate. Catering to a wide range of industries, including banking, energy, healthcare, law, life sciences, manufacturing, and technology, JLL's client base ranges from tech startups to global firms, highlighting its extensive reach and versatility in the real estate market.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (18.12.2024):
Revenue Growth
In the third quarter of 2024, Jones Lang LaSalle Inc. reported a 15% increase in revenue compared to the same period in the previous year. This growth was driven by a significant 11% rise in Transactional revenue, with Leasing within Markets Advisory increasing by 21% and Capital Markets seeing an 18% growth in Investment Sales and Debt/Equity Advisory. Resilient revenues also showed strong performance, growing by 16%, with Workplace Management within Work Dynamics up by 20%.
Net Income and Earnings
Jones Lang LaSalle Inc. achieved a net income attributable to common shareholders of $155.1 million for the third quarter of 2024, a substantial increase from $59.7 million in the previous year. The company's diluted earnings per share rose to $3.20 from $1.23, while adjusted diluted earnings per share increased to $3.50 from $2.19. This growth in profit was primarily due to higher revenues and effective cost management.
Adjusted EBITDA
For the third quarter of 2024, Jones Lang LaSalle Inc. reported an Adjusted EBITDA of $298.1 million, up from $217.3 million in the same quarter of the previous year. This 37% increase was attributed to higher revenues and improved cost discipline, which enhanced the company's platform leverage. The growth in Adjusted EBITDA was a key factor in the company's overall profitability improvement.
Cash Flows
Jones Lang LaSalle Inc. generated $261.6 million in net cash from operating activities during the third quarter of 2024, compared to $325.7 million in the prior-year quarter. Free Cash Flow was $216.7 million, down from $276.2 million. The decrease in cash flow was influenced by a loan repurchase from Fannie Mae and higher cash taxes paid, partially offset by improved earnings-driven cash flow.
Debt and Liquidity
As of September 30, 2024, Jones Lang LaSalle Inc. reported a total net debt of $1,597.3 million, reflecting a decrease from $1,698.6 million at the end of September 2023. The company's net leverage ratio improved to 1.4x, and corporate liquidity stood at $3,392.8 million. The reduction in net debt was largely due to enhanced cash flows from operations over the past year.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
11965 M
Market cap (USD)
452,749
Daily traded volume (Shares)
253.34 / 247.23
1 day high/low (USD)
52 weeks high/low (USD)
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