Record full-year revenue of $7.9 billion and fourth-quarter revenue of $2.5 billion, both up 17 percent
News release
07 February 2018
JLL Reports Strong Fourth-Quarter and Full-Year Results
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Chicago, February 7, 2018 — Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the full year and fourth quarter of 2017. For the year, diluted earnings per share2 were $5.55 and adjusted diluted earnings per share1 were $9.16; for the fourth quarter, diluted earnings per share2 were $1.71 and adjusted diluted earnings per share1 were $4.92.
- Revenue up 17 percent to $2.5 billion for the quarter; fee revenue up 18 percent to $2.2 billion
- Broad-based Real Estate Services revenue growth
- Outstanding execution in capital markets and leasing in response to outsized client demand to close transactions by year-end
- Fourth quarter margin expansion in Americas, Asia Pacific and LaSalle
- Strong transactional revenue mix coupled with disciplined cost management
- EMEA mixed results driven by strong transactional performance offset by Integral
- LaSalle delivered solid advisory fees and equity earnings
- Strong operating cash flows contributed to significant net debt reduction
- Substantial leverage improvement driven by $547 million net debt reduction during the year
CEO Comment
“Outstanding fourth-quarter 2017 performance contributed to record revenue and strong adjusted EBITDA and cash flows for the year,” said Christian Ulbrich, JLL CEO. "We achieved these results while making significant progress in 2017 on our ambitious data and technology agenda. With favorable economic conditions and healthy real estate fundamentals in most markets, we anticipate continued growth in 2018.”