Jones Lang LaSalle beats third-quarter profit estimate and raises 2026 earnings target
Revenue of $7.28 billion fell short of the $7.31 billion expected, and the company plans a new $500 million share buyback.
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Jones Lang LaSalle earned $6.76 a share in the third quarter, $0.54 more than expected. Revenue was $7.28 billion, below the $7.31 billion expected.
The company raised its full-year 2026 target range for adjusted earnings per share (EPS). The new range reflects growth of 37 per cent at the midpoint. Christian Ulbrich, the chief executive, said strong pipelines and operating trends support an optimistic view for the rest of the year. JLL also plans to start a new $500 million accelerated share repurchase soon. With that buyback, full-year repurchases will top $1 billion.
Advisory was the growth engine this quarter. Revenue in the business rose 22 per cent, and Leasing Advisory rose 27 per cent. That fits a wider view that leasing is recovering through 2026. The higher target and the buyback put more weight on per-share results, even though total revenue came in below expectations. Whether 37 per cent midpoint growth holds depends on the pipelines management cited. The fourth quarter will be the first real test.
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