Jones Lang LaSalle
The 10-second takeaway
For the quarter ended June 30 (Q2), Jones Lang LaSalle met expectations on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share dropped significantly.
Gross margins were steady, operating margins contracted, and net margins shrank.
Jones Lang LaSalle reported revenue of $921.3 million. The five analysts polled by S&P Capital IQ foresaw sales of $929.9 million on the same basis. GAAP reported sales were 9.0% higher than the prior-year quarter's $845.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.13. The six earnings estimates compiled by S&P Capital IQ anticipated $1.26 per share. GAAP EPS of $0.83 for Q2 were 16% lower than the prior-year quarter's $0.99 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 35.6%, about the same as the prior-year quarter. Operating margin was 8.1%, 40 basis points worse than the prior-year quarter. Net margin was 4.1%, 110 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $955.3 million. On the bottom line, the average EPS estimate is $1.19.
Next year's average estimate for revenue is $3.90 billion. The average EPS estimate is $5.49.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 706 members out of 741 rating the stock outperform, and 35 members rating it underperform. Among 252 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 247 give Jones Lang LaSalle a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Jones Lang LaSalle is outperform, with an average price target of $95.33.
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Seth Jayson owned shares of the following at the time of publication: Jones Lang LaSalle. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Jones Lang LaSalle. Motley Fool newsletter services recommend Jones Lang LaSalle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.