-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
JLL reported Q1 revenue of $6.39B (+11.1% Y/Y), beating consensus by $167M vs. $5.75B a year ago. The strong performance was fueled by accelerating Transactional revenue growth (+17% Y/Y) and continued momentum in Resilient revenues (+7% Y/Y). Following another segment reorganization that consolidated multiple Leasing Advisory reporting lines, revenue from Real Estate Management Services reached $5.0B (+9.4% Y/Y), Leasing Advisory $0.69B (+17.1%), Capital Markets Services $535M (+22.9%), and Investment Management $99M (+0.8%). The U.S. led performance with office leasing revenue growth significantly outperforming global office volumes, while many international geographies achieved double-digit revenue growth. The increase in average deal size contributed to higher commission rates paid to brokers and agents, as higher commission tiers were achieved earlier in the year, though this was partially offset by margin expansion from favorable market conditions and successful execution of JLL's strategic initiatives.