JLL Reports Financial Results for Second-Quarter 2025

Core Insights - Jones Lang LaSalle Incorporated (JLL) reported strong second-quarter results for 2025, with diluted earnings per share of $2.32, reflecting a 32% increase year-over-year, and adjusted diluted earnings per share of $3.30, up 29% [1][5][11] - The company achieved at least six consecutive quarters of growth in both Resilient and Transactional revenues, indicating robust operational performance [1][5] Financial Performance - Total revenue for the second quarter was $6.25 billion, representing an 11% increase compared to the same quarter in 2024, with Resilient revenues up 11% and Transactional revenues up 7% [5][11] - Net income attributable to common shareholders was $112.3 million, a 33% increase from $84.4 million in the prior year [12][40] - Adjusted EBITDA for the quarter was $291.7 million, an 18% increase year-over-year, driven by revenue growth and improved operating efficiency [12][40] Segment Performance - Real Estate Management Services revenue grew by 12% to $4.89 billion, with significant contributions from Workplace Management (up 11%) and Project Management (up 23%) [6][19] - Capital Markets Services revenue increased by 14% to $520.3 million, primarily driven by strong performance in debt advisory and investment sales [26][27] - Leasing Advisory revenue rose by 5% to $676.8 million, with notable growth in industrial and office sectors in the U.S. and Asia Pacific [23][24] Cash Flow and Capital Allocation - Cash flows from operating activities for the second quarter were $332.8 million, a 22% increase from the previous year, while free cash flow was $288.4 million, also up 22% [14][40] - The company doubled its share repurchases in the second quarter, with $952 million remaining authorized for repurchase as of June 30, 2025 [15][16] Debt and Liquidity - As of June 30, 2025, net debt was $1.59 billion, down from $1.75 billion in the previous quarter, reflecting improved free cash flow [17] - The net leverage ratio improved to 1.2x, down from 1.4x in the previous quarter, indicating stronger financial health [17]