Real estate firm JLL (NYSE: JLL) will be announcing earnings results tomorrow before market open. Here’s what you need to know.
JLL beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $6.81 billion, up 15.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but a miss of analysts’ Work Dynamics revenue estimates.
Is JLL a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting JLL’s revenue to grow 7.7% year on year to $5.52 billion, in line with the 8.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.18 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. JLL has missed Wall Street’s revenue estimates twice over the last two years.
Looking at JLL’s peers in the real estate services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Cushman & Wakefield delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 2.5%, and Newmark reported revenues up 21.8%, topping estimates by 8.9%. Cushman & Wakefield traded up 4.2% following the results while Newmark was down 2.5%.
Read our full analysis of Cushman & Wakefield’s results here and Newmark’s results here.
There has been positive sentiment among investors in the real estate services segment, with share prices up 9.2% on average over the last month. JLL is up 8.5% during the same time and is heading into earnings with an average analyst price target of $291.33 (compared to the current share price of $232.84).
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