Jones Lang Lasalle Inc. Earnings: Higher-Than-Expected Net Income

Jones Lang Lasalle Inc. (NYSE:JLL) reported net income above Wall Street’s expectations for the first quarter. Jones Lang LaSalle provides integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients.

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Jones Lang Lasalle Earnings Cheat Sheet for the First Quarter

Results: Net income for Jones Lang Lasalle Inc. rose to $14 million (31 cents per share) vs. $1.5 million (3 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year-earlier quarter.

Revenue: Rose 18.2% to $813 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Jones Lang Lasalle Inc. reported adjusted net income of 50 cents per share. By that measure, the company beat the mean estimate of 20 cents per share. It beat the average revenue estimate of $772.3 million.

Quoting Management: “We drove strong first-quarter revenue and profit growth by building both market share and margins,” said Colin Dyer, President and Chief Executive Officer. “World real estate markets continue their cyclical recovery, and we will continue our successful drive for revenue and margin growth.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 21.7%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 27.5% from the year earlier quarter.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 35 cents in the fourth quarter of the last fiscal year, by 3 cents in the third quarter of the last fiscal year, and by 2 cents in the second quarter of the last fiscal year.

Net income has increased more than threefold year-over-year on average across the last five quarters. The biggest gain came in the most recent quarter, when income climbed 841.2% from the year-earlier quarter.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from $1.26 a share to $1.28 over the last ninety days. The average estimate for the fiscal year has seen a bump from $5.48 per share sixty days ago to $5.51.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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