So, the Wheels Came Off Jones Lang LaSalle's Bus

Seth Jayson, The Motley Fool
Updated

Jones Lang LaSalle (NYS: JLL) reported earnings on July 30. Here are the numbers you need to know.

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.

Revenue details
 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 details
 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.

Margin details
 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.)

Looking ahead
 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.

Investor sentiment
 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.

The article So, the Wheels Came Off Jones Lang LaSalle's Bus originally appeared on Fool.com.

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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month. The Motley Fool recommends Jones Lang LaSalle. The Motley Fool owns shares of 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.

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