Analyst Consensus ?
ConsensusBuy12 ratings
Bullish758.3%
Neutral325.0%
Bearish216.7%
Jones Lang LaSalle Incorporated · JLL · FY2025 Q3 · Calendar Q4 2025
JLL Q3: Transactional Growth Lifts Results, Guidance Raised
Momentum in Transactional services and Leasing strengthened, while intentional APAC contract exits keep Property Management execution a near-term watchpoint.
Reported Before market openNYSEReal Estate
$17.33B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$4.50
Consensus $4.23
EPS surprise
+6.4%
Reported versus consensus
Reported revenue
$6.51B
Consensus $6.49B
Revenue surprise
+0.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.8%
Event window
SPY move
+0.3%
Same window
Abnormal move
-4.2%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+13.9%
Up to 20 sessions
JLLSPY benchmark
Ask FN2 about JLL FY2025 Q3
Transcript, numbers and history already loaded
Why did JLL fall 3.8% after beating EPS estimates in FY2025 Q3?What changed in JLL's guidance and outlook in FY2025 Q3?Give me the bull and bear case for JLL after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with Q2, Q3 analysis indicates faster Transactional growth and a further increase to the low end of FY2025 adjusted EBITDA guidance. Management also described broader daily AI-tool adoption and plans to make Software & Technology Solutions a fifth Real Estate Management Services line.
Guidance delta
Management raised the low end of FY2025 adjusted EBITDA guidance by $75 million. No other guidance change was stated in the supplied analysis.
Key takeaways
- Revenue grew 10% and adjusted EBITDA grew 16%, according to the supplied Q3 analysis.
- Transactional revenue increased 13%, with activity re-accelerating across investment sales, debt and equity advisory.
- Property Management growth was moderated by intentional Asia Pacific contract exits; U.S. growth remained mid-single-digit.
- Free cash flow was described as its highest since 2021; leverage was 0.8x and quarterly share repurchases were $70 million.
Management priorities
- Scale Agentic AI tools across support services and business lines.
- Integrate Software & Technology Solutions as a fifth Real Estate Management Services line.
- Expand shared service centers and process automation, while continuing organic growth and selective acquisitions.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$381.52Current
$217Low
$353.58Average
$500High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 17, 2026 |
| UBS | Buy | Buy | Maintain | Apr 22, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 26, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 26, 2025 |
| Citigroup | Neutral | Neutral | Maintain | May 28, 2025 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jan 24, 2025 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Nov 25, 2024 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Apr 17, 2019 |
| Bank of America | Underperform | Buy | Downgrade | Jan 3, 2019 |
| B of A Securities | Underperform | Buy | Downgrade | Jan 3, 2019 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Jan 24, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $381.52. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Brendan Lynch | $401 | $375 | +5.1% | Aug 17, 2026 |
| Raymond James | Patrick O\'Shaughnessy | $500 | $361.95 | +31.1% | Jul 30, 2026 |
| Barclays | Brendan Lynch | $368 | $333.15 | -3.5% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $366 | $315.78 | -4.1% | May 13, 2026 |
| Barclays | Brendan Lynch | $348 | $324.54 | -8.8% | Apr 14, 2026 |
| UBS | Analyst unavailable | $425 | $305.62 | +11.4% | Feb 23, 2026 |
| UBS | Analyst unavailable | $410 | $357.81 | +7.5% | Jan 28, 2026 |
| Barclays | Analyst unavailable | $360 | $346.47 | -5.6% | Jan 13, 2026 |
| CBRE | Analyst unavailable | $351 | $323.85 | -8.0% | Dec 2, 2025 |
| Goldman Sachs | Analyst unavailable | $407 | $330.72 | +6.7% | Nov 26, 2025 |
| UBS | Alex Kramm | $360 | $287.91 | -5.6% | Oct 10, 2025 |
| Griffin | Michael Griffin | $300 | $278.15 | -21.4% | Dec 3, 2024 |
| Wolfe Research | Andrew Rosivach | $353 | $263.27 | -7.5% | Nov 25, 2024 |
| Raymond James | Patrick O'Shaughnessy | $268 | $244.37 | -29.8% | Jul 25, 2024 |
| Raymond James | Patrick O'Shaughnessy | $246 | $189.14 | -35.5% | Apr 3, 2024 |
| Raymond James | Analyst unavailable | $295 | $221.83 | -22.7% | Apr 26, 2022 |
| Goldman Sachs | Chandni Luthra | $217 | $220.84 | -43.1% | Apr 7, 2022 |
| Wolfe Research | Andrew Rosivach | $335 | $223.24 | -12.2% | Mar 14, 2022 |
Track every rating change on JLL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationJones Lang LaSalle Incorporated (JLL) operates as a leading global professional services firm, specializing in comprehensive real estate and investment management solutions. Its extensive reach spans the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. JLL's real estate offerings are broad, encompassing services such as tenant and landlord representation. It also provides a robust suite of capital markets solutions, including financing advisory (debt and equity), loan servicing, strategic merger and acquisition guidance, and investment sales support. The company manages diverse property types on-site, including office, industrial, retail, and multifamily residential assets, while also delivering integrated facilities management. Furthermore, JLL offers project management and consulting services—covering design, construction, and strategic advice—for tenants of leased spaces, owner-occupiers, and real estate investors.…
Historical context
All JLL earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| O Realty Income Corporation | FY2026 Q3 · Calendar Q4 2026 | +5.7% | +1.1% | Realty Income raises 2026 AFFO outlook as Europe and credit broaden investment mix |
| SBAC SBA Communications Corporation | FY2026 Q3 · Calendar Q4 2026 | +4.8% | -1.2% | SBA Communications Raises AFFO Guidance as Edge Computing Develops |
| CUBE CubeSmart | FY2026 Q3 · Calendar Q4 2026 | +2.3% | +4.0% | CubeSmart returns to positive NOI and FFO growth in Q3 |
| GLPI Gaming and Leisure Properties, Inc. | FY2026 Q3 · Calendar Q4 2026 | -11.5% | -1.3% | GLPI Keeps Guidance, Advances Development Despite Bally’s Risks |
| FRT Federal Realty Investment Trust | FY2026 Q3 · Calendar Q4 2026 | +3.9% | -1.1% | Federal Realty raises 2026 FFO outlook as leasing stays strong |
| WY Weyerhaeuser Company | FY2026 Q3 · Calendar Q4 2026 | +128.3% | +3.0% | Weyerhaeuser: Timberlands Strengthen as Growth Projects Advance |
Latest beats and misses
Who reports nextBeat on EPS
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- CLXFY2027 Q1 · November 2, 2026+44.9% EPS+2.2% move
- AAPLFY2026 Q4 · November 2, 2026+3.0% EPS-1.8% move
- PLTRFY2026 Q3 · November 2, 2026+8.3% EPS-3.1% move
- ETRFY2026 Q3 · November 2, 2026+14.5% EPS-0.2% move
- OFY2026 Q3 · November 2, 2026+5.7% EPS+1.1% move
Missed on EPS
- VRTXFY2026 Q3 · November 2, 2026-1.2% EPS-1.0% move
- PEGFY2026 Q3 · November 2, 2026-3.4% EPS+0.1% move
- RYAAYFY2027 Q2 · November 2, 2026-0.3% EPS+2.9% move
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
Get the JLL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-03T14:00:47.871964+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T14:00:47.868978+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.