Commercial property services company Jones Lang LaSalle Inc (NYSE: JLL) produced a solid set of first-quarter results on Friday and affirmed its full-year guidance. That said, investors will be wondering just how a 21% increase in fee revenue translated into a 12.9% drop in adjusted earnings before interest, tax, depreciation and amortization (EBITDA), let alone a 45.1% decline in adjusted diluted EPS. Wait no further to find out.
Starting with the headline numbers from the quarter, all comparisons are on a year on year basis: