Jones Lang LaSalle (NYSE:JLL) Posts Quarterly Earnings Results, Beats Estimates By $1.46 EPS

Jones Lang LaSalle (NYSE:JLL) issued its earnings results on Wednesday. The financial services provider reported $8.71 earnings per share for the quarter, topping analysts’ consensus estimates of $7.25 by $1.46, FiscalAI reports. The firm had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.45 billion. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. Jones Lang LaSalle’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.15 earnings per share.

Here are the key takeaways from Jones Lang LaSalle’s conference call:

• JLL reported record full-year results with revenue up 11%, Adjusted EBITDA of $1.45 billion (up 22%), seventh consecutive quarter of double-digit revenue gains, and ninth consecutive quarter of double-digit EPS growth, noting they hit their midterm margin target in 2025.
• Transactional momentum accelerated in Q4—leasing +17% (office +26%, industrial +11%) and capital markets (investment sales +26%, debt advisory +20%)—and management said pipelines are strong, guiding 2026 Adjusted EBITDA to $1.575–$1.675 billion (about 12% growth at midpoint).
• Cash generation strengthened with all‑time high free cash flow and net leverage of 0.2x year‑end; management repurchased $80 million in Q4 ($212 million YTD) and expects to increase buybacks in 2026, prioritizing returns after paying down debt.
• Management emphasized a long-standing AI and data strategy—proprietary data, JLL Spark investments, and embedded AI tools—to boost productivity and defend against disintermediation, but acknowledged uncertainty around long‑term disruption and will prioritize internal tech development over ramping third‑party startup investments.
• Near‑term headwinds in Real Estate Management Services included an ~$11 million Q4 impact from higher U.S. healthcare actuarial costs and elevated property‑management contract turnover (intentional contract exits to protect margins), which may pressure revenue growth through mid‑2026.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock traded up $27.37 during trading hours on Wednesday, reaching $314.20. 716,305 shares of the stock were exchanged, compared to its average volume of 568,002. The firm’s 50 day moving average is $339.18 and its 200 day moving average is $316.17. Jones Lang LaSalle has a 52-week low of $194.36 and a 52-week high of $363.06. The stock has a market cap of $14.83 billion, a P/E ratio of 24.09 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.31 and a current ratio of 2.31.

Insider Buying and Selling at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $330.33, for a total value of $1,651,650.00. Following the sale, the chief executive officer directly owned 134,685 shares in the company, valued at $44,490,496.05. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $6,609,091 in the last three months. Company insiders own 0.91% of the company’s stock.

Institutional Trading of Jones Lang LaSalle

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in shares of Jones Lang LaSalle by 426.7% during the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after acquiring an additional 728,824 shares during the last quarter. Millennium Management LLC lifted its position in shares of Jones Lang LaSalle by 4,285.3% in the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock worth $104,643,000 after purchasing an additional 342,821 shares in the last quarter. Marshall Wace LLP purchased a new position in Jones Lang LaSalle in the fourth quarter valued at about $75,276,000. Wellington Management Group LLP raised its holdings in shares of Jones Lang LaSalle by 310.0% during the 3rd quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider’s stock valued at $86,545,000 after purchasing an additional 219,373 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Jones Lang LaSalle by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock worth $397,209,000 after purchasing an additional 178,677 shares during the period. Institutional investors own 94.80% of the company’s stock.

Key Stories Impacting Jones Lang LaSalle

Here are the key news stories impacting Jones Lang LaSalle this week:

• Positive Sentiment: Q4 results beat consensus — JLL reported EPS well above estimates and revenue of $7.61B (up ~11.7% y/y), citing record quarterly diluted EPS and continued Transactional and Resilient revenue momentum. This beat drove initial upside. PR: Q4 and FY2025 results
• Positive Sentiment: Management issued an operational target for 2026 — JLL is targeting ~12% adjusted EBITDA growth for 2026 and highlighted AI-driven efficiency programs intended to improve margins and productivity; that forward-looking objective is a clear near-term catalyst if execution matches the target. Seeking Alpha: 12% adjusted EBITDA target
• Positive Sentiment: Street coverage and analyst context are supportive — multiple outlets and summaries highlight the beat and point to outsourcing tailwinds for real‑estate operations, which can support upside if macro conditions remain stable. Zacks: sector outlook
• Neutral Sentiment: Details and tone from the earnings call — the full Q4 earnings call transcript and analyst summaries provide color on revenue mix, M&A, capital allocation and the path to the 2026 target; investors should review call commentary for execution risk and assumptions. Earnings call transcript
• Neutral Sentiment: Key metrics vs. estimates — several write-ups compare JLL’s metrics to consensus (EPS, revenue growth, margins); while beats are meaningful, watch analyst FY2026 EPS expectations (~16.45) and how management’s 2026 EBITDA target maps to those numbers. Zacks: metrics vs estimates
• Negative Sentiment: Execution and margin risk — the 12% adjusted EBITDA goal depends on successful rollout of AI-driven efficiencies and sustaining Transactional revenue growth; JLL’s reported net margin and ROE indicate modest leverage, so failure to execute could weigh on the stock. Yahoo: Q4 summary
• Negative Sentiment: Recent share-price volatility and valuation questions — some coverage flagged a recent pullback and asked if it’s time to reassess JLL; investors should weigh growth guidance against valuation, cyclicality in real estate services and broader macro risks. Yahoo: reassess after pullback

Analyst Upgrades and Downgrades

JLL has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Barclays began coverage on Jones Lang LaSalle in a research note on Tuesday, December 2nd. They issued an “equal weight” rating and a $351.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus price target of $364.17.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.