Wed, May 7, 6:04 PM (8 days ago)
**Jones Lang LaSalle Incorporated (JLL, Ticker: JLL) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $5,746.4 million, up 12% YoY. - **Operating Income:** $120.0 million, up 5% YoY. - **Net Income:** $55.3 million, down 16% YoY. - **Adjusted EBITDA:** $224.8 million, up 20% YoY. - **Cash Flow from Operations:** Negative $767.6 million, primarily due to timing of reimbursables and higher commission payments. **Profit Margins:** - **Operating Margin:** 2.1% (down from 2.2% in Q1 2024). - **Net Margin:** 1.0% (down from 1.3% in Q1 2024). **Segment Performance:** - **Real Estate Management Services:** Revenue up 12%, driven by Workplace Management and Project Management. - **Leasing Advisory:** Revenue up 13%, with strong growth in office and industrial leasing. - **Capital Markets Services:** Revenue up 15%, fueled by debt advisory and investment sales. - **Investment Management:** Revenue down 5%, due to lower assets under management. - **Software and Technology Solutions:** Revenue up 6%, driven by software bookings. **Cash Flow and Earnings Changes:** - **Cash Flow from Investing Activities:** Negative $152.8 million, due to a $100 million investment in JLL Income Property Trust. - **Cash Flow from Financing Activities:** Positive $900.7 million, driven by commercial paper program utilization. - **Earnings per Share (EPS):** Basic EPS $1.17, down from $1.39 in Q1 2024. **Trends and Uncertainties:** - **Seasonality:** Q1 typically has lower revenue and profit, with increases in subsequent quarters. - **Market Conditions:** Macroeconomic trends, geopolitical environment, and real estate markets impact performance. - **Foreign Exchange:** Volatility in currencies affects reported results. **Future Operations Impact:** - **Investment Activity:** Continued investment in technology and artificial intelligence capabilities. - **Acquisitions:** Potential acquisitions to strengthen market position and supplement organic growth. - **Share Repurchase:** $19.8 million spent on share repurchases, with $993.4 million remaining authorized. **Notable Items:** - **Restructuring and Acquisition Charges:** $19.7 million, up from $1.7 million in Q1 2024. - **Equity Losses:** $25.6 million, primarily from Software and Technology Solutions investments. - **Debt:** $2,168.0 million, with a variable interest rate facility maturing in 2028.