Jones Lang LaSalle (JLL) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 12% YoY to $7.281B; adjusted EBITDA increased 33% to $460.2M, and adjusted diluted EPS rose 50% to $6.76.

• Advisory and resilient-business growth, led by Leasing Advisory and Capital Markets Services, drove profit growth and margin expansion.

Financial highlights

• Q3 operating income increased to $391.0M from $273.7M; net income attributable to common shareholders was $319.8M versus $222.8M.

• Nine-month revenue rose 11% to $20.596B; adjusted EBITDA increased 30% to $1.120B.

• YTD free cash flow was $174.2M, up $130M YoY; Q3 free cash flow was $556.0M.

Outlook and guidance

• FY26 adjusted EPS guidance was raised to $25.20–$26.30, implying 37% growth at the midpoint; guidance assumes active use of share repurchase authorization.

• Revenue growth targets: REMS mid- to high-single digits, Leasing Advisory high teens, Capital Markets Services mid-teens; Investment Management advisory fee growth low-single digits.

• For 2027, management expects growth to continue, with resilient-business momentum carrying forward and Advisory growth potentially moderating against tough 2026 comparisons.