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Jones Lang LaSalle (JLL) Q4 Earnings Beat, Decrease Y/Y

Jones Lang LaSalle Inc.JLL which shortened its name to "JLL," reported fourth-quarter 2016 adjusted earnings of $3.95 per share, beating the Zacks Consensus Estimate of $3.92. However, the bottom line came in lower than the fourth-quarter 2015 adjusted earnings of $4.61 per share.

For full-year 2016, adjusted earnings per share came in at $8.13, down from the 2015 figure of $10.20.

For the quarter, revenues came in at around $2.16 billion, surpassing the Zacks Consensus Estimate of $2.04 billion and up 14% year over year. Fee revenues increased 11% year over year to $1.85 billion.

For the full year, revenues came in at $6.80 billion, up 14% year over year and fee revenues came in at $5.76 billion, up 11% year over year.

For the reported quarter, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) came in at $286 million, down from $310 million in the prior-year quarter.

Revenue Growth

During the quarter, fee revenues from the Americas totaled $850 million, denoting a year-over-year increase of 12%. Fee revenues in the EMEA (Europe, the Middle East and Africa) region grew 11% year over year to $548.1 million, while that in the Asia-Pacific region rose 11% year over year to $350.9 million.

Revenues from LaSalle Investment Management segment rose 3% year over year to $100 million. At the end of the fourth quarter, assets under management totaled $60.1 billion, up from $59.7 billion at the end of the prior quarter.

Liquidity

JLL enjoys credit facility of $2.75 billion with the maturity date of Jun 2021.

JLL exited the quarter with cash and cash equivalents of $258.5 million, up from $216.6 million as of Dec 31, 2015. At the end of the fourth quarter, the company's net debt was $1.1 billion, down $171 million from the prior-quarter end.

Our Viewpoint

JLL's diversified product & services range, extensive knowledge of domestic & international real estate markets and a spate of strategic investment activities will aid its growth momentum. However, stiff competition and uncertainty in certain global economies remain concerns.

Currently, JLL carries a Zacks Rank #4 (Sell).

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Jones Lang LaSalle Incorporated Price, Consensus and EPS Surprise

Jones Lang LaSalle Incorporated Price, Consensus and EPS Surprise | Jones Lang LaSalle Incorporated Quote

We now look forward to the earnings releases of DDR Corp. DDR , Vornado Realty Trust VNO and HCP, Inc. HCP which are expected next week.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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