Record Revenue of $5.9B and Fee Revenue(1) of $2.8B for the quarter and $19.4B and $8.1B, respectively, for the full year
News release
27 February 2022
JLL reports financial results for fourth-quarter and full-year 2021
Categories:
CHICAGO, February 28, 2022 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for 2021 with fourth quarter diluted earnings per share of $8.16 and adjusted diluted earnings per share1 of $8.66, and full-year diluted earnings per share of $18.47 and adjusted diluted earnings per share1 of $19.47
Consolidated fourth-quarter revenue and fee revenue increased 23% and 42%, respectively
Leasing and Capital Markets led broad-based Real Estate Services fee revenue growth, up 68% and 62%, respectively
Americas achieved a 56% increase in fee revenue
Strong incentive and advisory fee performance drove over 50% fee revenue growth for LaSalle
Fourth-quarter margin expansion versus the prior year reflected:
Transaction-based revenue growth as well as higher equity earnings primarily related to JLL Technologies investments
Incremental expenses related to investments in people & technology and the expected reduction of non-permanent cost savings from 2020
Continued return of capital to shareholders with $152 million of share repurchases this quarter; $343 million for the full year
Additional $1.5 billion authorized for share repurchases
Reporting segments changing from geographic-centric Real Estate Services to global business lines in the first quarter of 2022
"JLL delivered impressive fourth-quarter and full-year 2021 financial results, led by strength in Leasing and Capital Markets, as well as valuation increases on our strategic technology investments. The broad capabilities of our fully integrated global platform are resonating with clients, driving strong top and bottom line results and significant free cash flow generation,” said Christian Ulbrich, JLL CEO. “During the past year, we made incremental investments in our business to drive future growth and also increased capital returns to shareholders. As we enter 2022, JLL is well-positioned to seize the significant opportunities across the commercial real estate sector and continue to generate long-term value for stakeholders."
