Core Insights - Jones Lang LaSalle Incorporated (JLL) reported first-quarter 2025 adjusted earnings per share (EPS) of $2.31, exceeding the Zacks Consensus Estimate of $2.02, and up from $1.78 in the prior-year quarter [1] - The company's revenues reached $5.75 billion, surpassing the Zacks Consensus Estimate of $5.59 billion, reflecting a year-over-year increase of 12.1% [2] Financial Performance - JLL's Real Estate Management Service segment generated revenues of $4.57 billion, a 12.3% increase year-over-year, driven by Workplace Management and Project Management growth [4] - The Leasing Advisory segment reported revenues of $586.1 million, up 12.6% year-over-year, with significant growth in office and industrial leasing across multiple regions [5] - Capital Market Services segment revenues were $435.3 million, reflecting a 15.3% year-over-year increase, primarily due to strong performance in Debt Advisory and Investment Sales [6] - The Software and Technology Solutions segment saw revenues of $57.1 million, a 5.9% increase year-over-year, while the Investment Management segment's revenues decreased by 4.7% to $98.5 million due to lower assets under management [7] Assets Under Management - As of March 31, 2025, JLL had $82.3 billion in assets under management (AUM), down from $89.7 billion a year earlier, attributed to net dispositions and withdrawals [8] Balance Sheet Overview - JLL ended the first quarter of 2025 with cash and cash equivalents of $432.4 million, an increase from $416.3 million at the end of the previous quarter [9] - The net leverage ratio rose to 1.4 from 0.7, while corporate liquidity decreased to $3.31 billion from $3.62 billion [9] Market Context - The broader real estate market showed resilience, with CBRE Group Inc. reporting a core EPS of 86 cents, exceeding estimates and reflecting a 10.3% year-over-year increase [10]