Print Page     Close Window     

SEC Filings

8-K
JONES LANG LASALLE INC filed this Form 8-K on 11/06/2017
Entire Document
 
Exhibit
Exhibit 99.1


News Release
 
 
http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=11873347&doc=5
 
 
JLL Reports Strong Third-Quarter 2017 Performance
Revenue increase of 14 percent and diluted EPS increase of 80 percent to $1.89
CHICAGO, November 6, 2017 Jones Lang LaSalle Incorporated (NYSE: JLL) today reported strong operating performance for the third quarter of 2017, resulting in diluted earnings per share of $1.89 and adjusted diluted earnings per share1 of $1.96.
Revenue up 14 percent to $1.9 billion; fee revenue1 up 12 percent to $1.6 billion
Broad-based Real Estate Services and LaSalle revenue growth, primarily organic
Balanced expansion of annuity and transactional businesses
Margin improvement across all segments against solid market fundamentals
Accretive organic and M&A contributions, partially offset by Integral integration
Accelerated LaSalle incentive fees
Operating cash flows continue to strengthen; 20 percent reduction in net debt during the quarter
Semi-annual dividend of $0.37 per share; up 13 percent annually over 2016
CEO Comment:
“Solid organic growth and strong cash flows from operations contributed to our third-quarter performance,” said Christian Ulbrich, JLL CEO. “Continued healthy market fundamentals in the global economy and many real estate markets worldwide provide a good foundation through the end of the year and into 2018.”
Summary Financial Results
 
Three Months Ended
 
Nine Months Ended
September 30,
September 30,
   ($ in millions, except per share data)
 
2017
2016
 
2017
2016
 
 
 
 
 
 
 
Revenue
 
$
1,947.0

$
1,705.2

 
$
5,396.9

$
4,645.6

Fee Revenue1
 
1,624.6

1,444.3

 
4,517.2

3,907.8

Net Income
 
86.6

48.0

 
175.6

152.5

Adjusted Net Income1
 
89.6

64.7

 
193.5

189.8

 
 
 
 
 
 
 
Diluted Earnings per Share
 
$
1.89

$
1.05

 
$
3.84

$
3.35

Adjusted Diluted Earnings per Share1
 
$
1.96

$
1.42

 
$
4.23

$
4.17

 
 
 
 
 
 
 
Adjusted EBITDA1
 
$
168

$
127

 
$
400

$
372

Adjusted EBITDA, Real Estate Services
 
135

113

 
325

276

Adjusted EBITDA, LaSalle
 
33

14

 
75

96

(1) For discussion of non-GAAP financial measures, see Note 1 following the Financial Statements in this news release.

-continued-


© Copyright Jones Lang LaSalle, IP, Inc.