|JONES LANG LASALLE INC filed this Form 8-K on 11/06/2017|
JLL Reports Strong Third-Quarter 2017 - Page 3
Net income attributable to common shareholders was $86.6 million compared with $48.0 million last year. Adjusted EBITDA was $167.9 million, compared with $127.3 million in 2016. Adjusted EBITDA margin, calculated on a fee-revenue basis, was 10.3 percent in USD and local currency, compared with 8.8 percent last year. The consolidated results reflect increased performance across all segments, with notable contributions from transactional businesses and LaSalle incentive fees, along with management initiatives to contain controllable expenses.
Diluted earnings per share were $1.89, compared with $1.05 last year. Adjusted diluted earnings per share were $1.96, compared with $1.42 in 2016.
Balance Sheet and Net Interest Expense:
Total net debt was $1.0 billion as of September 30, 2017, a decrease of $254.1 million from last quarter, primarily reflecting business performance and continued improvements in working capital management.
Net interest expense for the third quarter was $15.0 million, up from $12.4 million in 2016. The increase was driven by a higher effective interest rate on debt, partially offset by a net period-over-period decrease in average borrowings, attributable to an improvement of over $180 million in operating cash flows compared with the third quarter of 2016.
The company's Board of Directors declared a dividend of $0.37 per share that will be paid on December 15, 2017, to shareholders of record at the close of business on November 16, 2017. Total dividends declared for 2017 were $0.72 per share, an increase of 13 percent over dividends paid in 2016.
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