CSL shares plunge to 7-year low on delay in US vaccine business spinoff
CHICAGO -Jones Lang LaSalle Incorporated (NYSE: JLL) reported better-than-expected fourth quarter results on Wednesday.
Shares fell -2.73% in early trading as the company struck a cautious tone on the 2025 outlook, citing economic uncertainty.
The real estate services firm posted adjusted earnings per share of $6.15, beating analyst estimates of $5.87. Revenue rose 16% year-over-year to $6.81 billion, also topping expectations of $6.7 billion.
JLL saw strong growth across its business segments in Q4. Transactional revenues jumped 22%, led by a 32% increase in Capital Markets. Resilient revenues, which include property management and other recurring services, grew 13%.
"JLL delivered strong fourth-quarter and full-year 2024 financial results, led by an acceleration in transactional activity and sustained growth in resilient revenues," said CEO Christian Ulbrich.
For the full year 2024, JLL reported adjusted EPS of $14.01 on revenue of $23.43 billion, up from $10.39 and $20.76 billion respectively in 2023.
The company generated $785 million in operating cash flow for the year, up from $576 million in 2023. JLL ended the year with $416 million in cash and a net leverage ratio of 0.7x.
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