- Jones Lang LaSalle (JLL -7.2%) sinks even as Q2 adjusted EPS beat consensus by 5 cents.
- Q2 adjusted net income of $103.9M, or $2.26 per share, rose from $99.4M, or $2.17, a year earlier.
- Q2 fee revenue increased to $1.49B from $1.32B Y/Y.
- Adjusted EBITDA margin, calculated on a fee-revenue basis, slipped to 13.0% in U.S. dollars (or 13.1% in local currency) compared with 13.9% a year earlier.
- Americas real estate services revenue rose 11% to $2.16B while operating earnings rose 5% to $100.9M.
- EMEA real estate services revenue rose 17% in U.S. dollars and 11% in local currency to $846.6M, while posting an operating loss of $1.4M vs operating income of $10.0M a year ago.
- Asia Pacific real estate services revenue of $812.9M rose 9% in U.S. dollars and 8% in local currency, as operating income rose 9% in both U.S. dollars and local currency to $23.4M.
- LaSalle revenue increased 26% to $91.7M while operating income jumped 88% to $15.8M.
- Source: Press Release
- Previously: Jones Lang Lasalle beats by $0.05, beats on revenue (Aug. 8)
- Now read: Jones Lang Lasalle Inc. 2018 Q2 - Results - Earnings Call Slides
Original article