Jones Lang Lasalle Inc. Earnings: Two Straight Quarters of Profit Drops, but Beat Estimates

Jones Lang Lasalle Inc. (NYSE:JLL) reported its results for the fourth 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.

Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?

Jones Lang Lasalle Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the property management company fell to $84.8 million ($1.91 per share) vs. $85 million ($1.91 per share) a year earlier. This is a decline of 0.3% from the year earlier quarter.

Revenue: Rose 20.1% to $1.15 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: JLL reported adjusted net income of $2.56 per share. By that measure, the company beat the mean estimate of $2.21 per share. It beat the average revenue estimate of $1.12 billion.

Quoting Management: “Our strong finish to the year closed out a solid 2011 performance of record revenue and robust profit growth coupled with significantly strengthened market positions across the firm,” said Colin Dyer, President and Chief Executive Officer. “These results and the strategic actions we took during the year position us for continued growth and success in 2012,” Dyer added.

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 21.5%, with the biggest boost coming in the third quarter when revenue rose 27.5% from the year earlier quarter.

The company has now seen net income fall in each of the last two quarters. In the third quarter, net income fell 8.7% from the year earlier quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 3 cents in the third quarter and by 2 cents in the second quarter.

Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the first quarter of the next fiscal year is 20 cents per share, a drop from 29 cents. At $4.45 per share, the average estimate for the fiscal year has fallen from $4.50 ninety days ago.

Competitors to Watch: CB Richard Ellis Group, Inc. (NYSE:CBG), Grubb & Ellis Company (NYSE:GBE), Kennedy-Wilson Hldgs., Inc. (NYSE:KW), FirstService Corp. (NASDAQ:FSRV), ZipRealty, Inc. (NASDAQ:ZIPR), E-House (NASDAQ:CHINA) Hldgs. Ltd. (NYSE:EJ), HFF, Inc. (NYSE:HF), EMCOR Group, Inc. (NYSE:EME), Terreno Realty Corporation (NYSE:TRNO), and IFM Investments Ltd. (NYSE:CTC).

Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?

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

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com