JLL (JLL) Misses Q2 EPS by 32c, Revenues Beat

JLL (NYSE: JLL) reported Q2 EPS of $0.71, $0.32 worse than the analyst estimate of $1.03. Revenue for the quarter came in at $3.67 billion versus the consensus estimate of $1.21 billion.

• Consolidated revenue was $3.7 billion and fee revenue1 was $1.2 billion, decreases of 13% and 22%, respectively
  • Transaction-based service lines heavily impacted by pandemic
  • Resilience of Property & Facility Management, led by Corporate Solutions, demonstrated the strength of globally-diversified platform
  • LaSalle delivered stable advisory fees
• Significant debt reduction continued to underscore strong balance sheet and liquidity
• Receivables collection efforts in all segments drove impressive quarterly operating cash inflows

"Our second quarter top-line performance demonstrated the benefit of a globally diversified and integrated platform amidst unprecedented operating conditions. Next to the safety of our employees, we have focused our complete attention toward serving our clients during these challenging times, and maximizing the generation and preservation of cash," said Christian Ulbrich, JLL CEO. "Driving a $450 million reduction to net debt this quarter reinforced our financial strength and liquidity. We are well-positioned to withstand the impact of the pandemic and then resume our growth journey."

For earnings history and earnings-related data on JLL (JLL) click here.

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