JLL reports strong first-quarter 2021 results
Diluted earnings per share of $1.97, up from $0.10 last year; adjusted diluted earnings per share1 of $2.10, up from $0.49
CHICAGO, May 5, 2021 — Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the first quarter of 2021.
- Consolidated revenue was $4.0 billion and fee revenue1 was $1.4 billion, decreases of 4% and 7%, respectively
- Transaction-based service lines reflected improving economic conditions, highlighted by outstanding rebound in Asia Pacific
- Property & Facility Management growth led by continued strength of Americas Corporate Solutions
- Overall margin expansion included
- Valuation increases to JLL Technologies' strategic proptech investments
- Year-over-year changes in loan loss credit reserves and the fair value of LaSalle's co-investment portfolio
- Cost mitigation benefits partially offsetting pandemic's impact to revenue
- Credit Facility maturity extended to 2026; sustainability commitments incorporated into Facility pricing
"Our strong first-quarter results demonstrated JLL's commitment to delivering value to stakeholders across our global, scaled platform and reflected our investments in technology growth initiatives while prudently managing expenses," said Christian Ulbrich, JLL CEO. "While the pandemic continues to cause global disruption, we are encouraged by promising economic signs that indicate 2021 can be a year of strong recovery. More than ever, ‘One JLL,’ which brings together all our global service capabilities, puts us at a competitive advantage as we advise our clients on transitioning to a post-pandemic environment."
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.