JLL Q2 Earnings Fall 54%

JLL, the second largest CRE-services firm in the world reported a 54% reduction in EBITDA for Q2-2020.

  • Leasing fees had the largest impact on JLL's bottom line, as they dropped 43% over Q2-2019.

  • As many firms take a wait & see approach and others have announced indefinite "work from home" orders, it is unlikely that leasing activity will return to "normal" anytime soon.

  • At the end of Q2, assets under management remained strong with just a 6% decline over the previous quarter.

  • In the Americas, revenues and fee revenues came in at $2.2 billion and $683.1 million, respectively, reflecting 10% and 21% year-over-year decline. Notably, the Americas transaction-based service lines were affected by the pandemic. Also, soft investment sales and debt placement activity hurt Capital Markets revenues, though it included incremental revenue contributions from HFF.

#Covid19 #JLL #Earnings

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