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Dec 31, 2023
JLL Q4 2023 Earnings Report
JLL's Q4 2023 operating results reflected strong growth within resilient business lines amidst market-wide transaction activity pullback and geopolitical uncertainty.
Key Takeaways
JLL reported Q4 2023 revenue of $5.9 billion, a 4% increase in local currency. Operating income rose to $290.4 million from $254.7 million year-over-year. Diluted earnings per share were $3.57, and adjusted diluted earnings per share were $4.23.
Work Dynamics achieved broad-based growth across all service lines.
Capital Markets had solid performance against the lowest fourth-quarter investment sales market volumes since 2011.
Property Management, within Markets Advisory, delivered double-digit growth from strong momentum across the globe.
Nearly $130 million of incremental cash was generated by operating activities.
Revenue by Segment
Forward Guidance
As business confidence globally begins to improve alongside greater stability in interest rates, we expect transaction activity will pick up over the course of the year. Our global platform, industry insights and people uniquely position us to seize significant growth opportunities across the commercial real estate industry in the coming years while continuing to provide exceptional service to our clients.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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