JLL's third quarter 2026 results beat expectations behind robust 27% leasing growth

JLL reported record third quarter 2026 results with revenue reaching $7.3 billion, a 12% increase year-over-year. Performance was characterized by significant margin expansion and strong momentum in transaction-based business lines, prompting management to raise full-year Adjusted EPS guidance and announce a new $500 million accelerated share repurchase program.

Key Highlights

• Leasing Advisory revenue growth accelerated to 27% in local currency, significantly outpacing global market volumes and led by a 39% surge in U.S. industrial and office sectors.
• Capital Markets Services revenue rose 21% in local currency, driven by broad-based growth in U.S. and Japanese investment sales which outpaced broader market activity.
• Operating leverage improved as Adjusted EBITDA increased 33% to $460.2 million, supported by higher average commission rates from larger deal sizes and resilient revenue growth in Workplace Management.