$JLL · JONES LANG LASALLE INC
Jones Lang LaSalle reported Q3 2026 results with record diluted EPS of $6.85, up 49% YoY, on revenue of $7.28B (+12% YoY). Adjusted EBITDA rose 33% to $460.2M. The company raised its full-year Adjusted EPS target to 37% growth at the midpoint and announced an imminent $500M accelerated share repurchase, bringing full-year buybacks to over $1B.
- Q3 diluted EPS of $6.85, up 49% YoY in USD and 50% in local currency, a record quarter.
- Revenue of $7.28B, up 12% YoY; Leasing Advisory surged 27% and Capital Markets Services rose 21% in local currency.
- Adjusted EBITDA of $460.2M, up 33% YoY, with margin expansion driven by revenue growth and platform leverage.
- Company intends to execute a new $500M accelerated share repurchase imminently, bringing full-year repurchases to over $1B.
- Nine-month free cash flow of $174.2M, up 297% from $43.9M in the prior-year period.
Markets closed — no regular-session reaction yet; extended-hours move not captured here. The record EPS, broad-based revenue acceleration, and $500M buyback announcement are likely to be received positively when trading resumes.
Record earnings, broad-based revenue acceleration across Advisory segments, raised guidance, and a $500M buyback signal management's conviction in sustained momentum.
JLL's Leasing Advisory and Capital Markets growth significantly outpaced broader market volumes — U.S. office leasing revenue up 18% vs. market up 2%, and investment sales up 33% vs. market up 9% — indicating market share gains across commercial real estate services.
Investment Management revenue declined 9% YoY to $105.2M, with incentive and transaction fees down 44%, signaling headwinds in that segment. Softness in certain European and Asia Pacific geographies partially offset strong U.S. growth.