Analyst Consensus ?
ConsensusBuy12 ratings
Bullish758.3%
Neutral325.0%
Bearish216.7%
Jones Lang LaSalle Incorporated · JLL · FY2026 Q2 · Calendar Q3 2026
JLL raises 2026 EPS outlook as AI and advisory growth accelerate
JLL's Q2 supports a constructive operating case: resilient real-estate management demand, stronger advisory activity, AI and data investments, and data-center expansion coincided with higher guidance. The main test is whether margin gains and transaction momentum remain durable if capital raising and deal activity slow.
Reported Before market openNYSEReal Estate
$15.34B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.26
Consensus $4.56
EPS surprise
+15.4%
Reported versus consensus
Reported revenue
$6.93B
Consensus $6.88B
Revenue surprise
+0.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+6.4%
Event window
SPY move
+1.7%
Same window
Abnormal move
+4.7%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+4.7%
Up to 20 sessions
JLLSPY benchmark
Ask FN2 about JLL FY2026 Q2
Transcript, numbers and history already loaded
Why did JLL rise 6.4% after beating EPS estimates in FY2026 Q2?What changed in JLL's guidance and outlook in FY2026 Q2?Give me the bull and bear case for JLL after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management reported continued double-digit growth, raised full-year adjusted EPS guidance, and highlighted earlier-than-targeted profitability in software and technology solutions plus additional data-center capacity.
Guidance delta
Management raised 2026 adjusted EPS guidance to $24.60-$25.90, with the midpoint implying 34% growth.
Key takeaways
- Revenue grew 11% year over year, while adjusted EBITDA increased 33%.
- Management cited outsourcing, AI and data-platform investments, and data-center facilities management as growth drivers.
- Free cash flow reached $438 million in the quarter, and share repurchases totaled $110 million.
Management priorities
- Expand AI and data-platform investments across business lines.
- Grow data-center facilities management and recurring revenue.
- Continue the One JLL cross-selling model and selective M&A under Accelerate 2030.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$333.34Current
$217Low
$353.58Average
$500High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 29, 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 $333.34. 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 | +20.3% | Aug 17, 2026 |
| Raymond James | Patrick O\'Shaughnessy | $500 | $361.95 | +50.0% | Jul 30, 2026 |
| Barclays | Brendan Lynch | $368 | $333.15 | +10.4% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $366 | $315.78 | +9.8% | May 13, 2026 |
| Barclays | Brendan Lynch | $348 | $324.54 | +4.4% | Apr 14, 2026 |
| UBS | Analyst unavailable | $425 | $305.62 | +27.5% | Feb 23, 2026 |
| UBS | Analyst unavailable | $410 | $357.81 | +23.0% | Jan 28, 2026 |
| Barclays | Analyst unavailable | $360 | $346.47 | +8.0% | Jan 13, 2026 |
| CBRE | Analyst unavailable | $351 | $323.85 | +5.3% | Dec 2, 2025 |
| Goldman Sachs | Analyst unavailable | $407 | $330.72 | +22.1% | Nov 26, 2025 |
| UBS | Alex Kramm | $360 | $287.91 | +8.0% | Oct 10, 2025 |
| Griffin | Michael Griffin | $300 | $278.15 | -10.0% | Dec 3, 2024 |
| Wolfe Research | Andrew Rosivach | $353 | $263.27 | +5.9% | Nov 25, 2024 |
| Raymond James | Patrick O'Shaughnessy | $268 | $244.37 | -19.6% | Jul 25, 2024 |
| Raymond James | Patrick O'Shaughnessy | $246 | $189.14 | -26.2% | Apr 3, 2024 |
| Raymond James | Analyst unavailable | $295 | $221.83 | -11.5% | Apr 26, 2022 |
| Goldman Sachs | Chandni Luthra | $217 | $220.84 | -34.9% | Apr 7, 2022 |
| Wolfe Research | Andrew Rosivach | $335 | $223.24 | +0.5% | 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 |
|---|---|---|---|---|
| VTR Ventas, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -2.7% | Ventas raises guidance as senior housing growth accelerates |
| ESS Essex Property Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -4.0% | ESS raises 2026 property-growth outlook as Northern California leads |
| WPC W. P. Carey Inc. | FY2026 Q3 · Calendar Q4 2026 | -12.9% | -1.1% | W.P. Carey raises AFFO outlook as investment pipeline expands |
| BXP BXP, Inc. | FY2026 Q3 · Calendar Q4 2026 | +40.9% | +1.7% | BXP raises 2026 FFO outlook as occupancy reaches 89.4% |
Latest beats and misses
Who reports nextBeat on EPS
- AEPFY2026 Q3 · October 28, 2026+8.8% EPS-1.6% move
- TELFY2026 Q4 · October 28, 2026+2.3% EPS-1.8% move
- ADPFY2027 Q1 · October 28, 2026+1.8% EPS-2.6% move
- TMUSFY2026 Q3 · October 28, 2026+11.4% EPS+0.9% move
- AVTRFY2026 Q3 · October 28, 2026+5.3% EPS-2.6% move
- DBFY2026 Q3 · October 28, 2026+18.2% EPS+4.3% move
Missed on EPS
- GOOGLFY2026 Q3 · October 28, 2026-28.6% EPS+1.3% move
- GOOGNFY2026 Q3 · October 28, 2026-29.8% EPS+1.0% move
- UMCFY2026 Q3 · October 28, 2026-8.7% EPS-3.2% move
- EQNRFY2026 Q3 · October 28, 2026-13.0% EPS+1.3% move
- SWFY2026 Q3 · October 28, 2026-29.5% EPS-5.2% move
- UBSFY2026 Q3 · October 28, 2026-6.6% EPS-0.2% 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 · 2026-07-30T19:09:31.731947+00:00
- FN2 earnings calendar · 2026-09-04T01:23:15.205020+00:00
- Polygon adjusted daily market bars · 2026-10-29T04:00:43.526644+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-29T04:00:43.523807+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 2026-10-29. For educational purposes only; not investment advice.