JLL · Jones Lang LaSalle Incorporated

Jones Lang LaSalle delivered a record first quarter in 2026, with diluted EPS of $3.33 significantly exceeding the prior year's $1.14. This performance was underpinned by an 11% increase in consolidated revenue to $6.4 billion. The growth was broad-based but notably led by the Advisory segment, which saw revenues climb 17% in local currency. Within Advisory, Capital Markets Services surged 21% in local currency, fueled by robust investment sales and debt advisory activity, while Leasing Advisory grew 16% due to momentum in the office sector and acceleration in industrial leasing. The Resilient segment also contributed, growing 7% in local currency, driven by strength in Workplace Management and Project Management.

Profitability expanded significantly, with Adjusted EBITDA rising 22% to $273.6 million. Margin expansion was driven by the strong revenue growth and incremental platform leverage, alongside improved equity earnings from Investment Management and Proptech Investments, which swung from a loss in the prior year to a gain. The company also demonstrated disciplined capital allocation, repurchasing $300 million of shares during the quarter. This included an accelerated share repurchase program initiated in March. Net debt increased to $1.5 billion from $304 million at the end of 2025, which management attributed to typical seasonal outflows for variable compensation payments. CEO Christian Ulbrich highlighted the success of the 'Accelerate 2030' strategy and the firm's data and AI advantages in driving sustainable growth.