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 grew. Non-GAAP earnings per share expanded slightly. GAAP earnings per share expanded significantly.
Gross margins grew, operating margins dropped, net margins grew.
Jones Lang LaSalle recorded revenue of $989.4 million. The six analysts polled by S&P Capital IQ looked for revenue of $982.6 million on the same basis. GAAP reported sales were 7.4% higher than the prior-year quarter's $921.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $1.15. The six earnings estimates compiled by S&P Capital IQ predicted $1.42 per share. Non-GAAP EPS of $1.15 for Q2 were 1.8% higher than the prior-year quarter's $1.13 per share. GAAP EPS of $1.03 for Q2 were 24% higher than the prior-year quarter's $0.83 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 100.0%, much better than the prior-year quarter. Operating margin was 7.3%, 80 basis points worse than the prior-year quarter. Net margin was 4.7%, 60 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.00 billion. On the bottom line, the average EPS estimate is $1.36.
Next year's average estimate for revenue is $4.15 billion. The average EPS estimate is $6.05.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 690 members out of 723 rating the stock outperform, and 33 members rating it underperform. Among 270 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 265 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 $107.33.
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