JLL Earnings: What To Look For From JLL

Real estate firm JLL (NYSE:JLL) will be announcing earnings results tomorrow morning. Here's what to look for.

JLL beat analysts' revenue expectations by 1.5% last quarter, reporting revenues of $5.88 billion, up 4.9% year on year. It was a very strong quarter for the company, with a decent beat of analysts' revenue and earnings estimates.

Is JLL a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting JLL's revenue to grow 2.2% year on year to $4.82 billion, a reversal from the 1.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.86 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. JLL has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 8% on average.

Looking at JLL's peers in the real estate services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. RE/MAX's revenues decreased 8.3% year on year, beating analysts' expectations by 1.3%, and CBRE reported revenues up 7.1%, in line with consensus estimates. RE/MAX traded up 7.5% following the results.

Read our full analysis of RE/MAX's results here and CBRE's results here.

Growth stocks have seen elevated volatility as investors debate the Fed's monetary policy, and while some of the real estate services stocks have fared somewhat better, they have not been spared, with share prices down 3.4% on average over the last month. JLL is down 6.1% during the same time and is heading into earnings with an average analyst price target of $218.9 (compared to the current share price of $185.52).

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