JLL Q3 2022 Earnings Report
Key Takeaways
JLL reported a 10% increase in revenue in local currency, driven by outsourcing wins and continued project management demand in Work Dynamics, and stable Markets Advisory fee revenue. However, the company experienced margin contraction due to higher compensation expense and increased T&E and marketing costs, along with a slowdown in Capital Markets volumes.
Revenue increased by 10% in local currency, reaching $5.2 billion.
Diluted earnings per share decreased to $2.88, compared to $4.57 in the prior-year quarter.
Work Dynamics fee revenue increased by 14%, driven by outsourcing wins and project management demand.
Capital Markets experienced a 5% decline due to lower market volumes and elongated deal cycles.
JLL
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JLL Revenue by Segment
Forward Guidance
The commercial real estate industry experienced a more rapid slowdown in Capital Markets volumes than was expected three months ago, with elongated deal cycles and widened bid-ask spreads. Work Dynamics continued to show strength with double-digit fee revenue growth, and JLL aims to leverage its global platform and industry expertise to serve clients during a more challenging macro-economic period.
Revenue & Expenses
Visualization of income flow from segment revenue to net income