Real estate firm JLL (NYSE:JLL) will be reporting results this Wednesday before market open. Here’s what you need to know.
JLL beat analysts’ revenue expectations by 4.1% last quarter, reporting revenues of $5.75 billion, up 12.1% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a miss of analysts’ adjusted operating income 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 12% year on year to $6.30 billion, in line with the 11.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.20 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.6% on average.
Looking at JLL’s peers in the real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. CBRE delivered year-on-year revenue growth of 16.2%, beating analysts’ expectations by 4.3%, and Newmark reported revenues up 19.9%, topping estimates by 10.7%. CBRE traded up 7.3% following the results while Newmark was also up 4.7%.
Read our full analysis of CBRE’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 2.5% on average over the last month. JLL is up 4.6% during the same time and is heading into earnings with an average analyst price target of $301.56 (compared to the current share price of $270.43).
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