CHICAGO, August 6, 2024 - Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the second quarter of 2024.
Continued momentum in Resilient6 business line revenue was complemented by solid growth in Transactional6 revenues. These revenue factors, along with the benefit of recent and ongoing cost management efforts, helped deliver strong profit performance for the second quarter.
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Second-quarter revenue was $5.6 billion, up 12% in local currency1
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Resilient6 revenues increased 16% in local currency and Transactional6 revenues grew 5% in local currency
- Work Dynamics again achieved double-digit growth, highlighted by a 19% increase in Workplace Management
- Property Management, within Markets Advisory, was up 8% with contributions from most geographies
- Leasing, also within Markets Advisory, increased 5% with broad-based geographic growth led by improvement in the office sector
- Capital Markets delivered modest growth, up 3%, even as investment sales market volumes remain historically suppressed
- Continued profitability improvement primarily driven by revenue growth and the benefit of cost mitigation actions
- Higher cash provided by operating activities contributed to nearly $150 million decrease in net debt for the quarter and improved leverage ratio
"We are pleased with our second quarter results as Work Dynamics led strong resilient revenue growth and our transactional business lines benefited from investments we have made to take advantage of greater commercial real estate activity," said Christian Ulbrich, JLL CEO. "Our bottom-line performance demonstrated the success of our recent and ongoing cost management efforts. In addition to remaining focused on scaling our platform as we anticipate future growth, our connected and diversified platform, along with strategic investments to further differentiate our business, will enhance long-term stakeholder value."
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Jones Lang LaSalle Inc. published this content on 06 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 August 2024 13:44:25 UTC.
