secwatch.observer — SEC 8-K summary
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Issuer:     JONES LANG LASALLE INC (JLL)
CIK:        0001037976
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001037976-23-000028
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JLL Q2 adjusted EPS $0.50, revenue $5.1B; net income falls 99% to $2.5M
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- GAAP diluted EPS $0.05 (incl. $1.69 equity loss); prior-year $3.90 (incl. $0.89 equity gain).
- Fee revenue $1.8B, down 13% in local currency; total revenue $5.1B, down 4%.
- Adjusted EBITDA $116.1M, down 68% YoY; free cash flow improved to $198.1M (up 45%).
- Cost reduction actions raised annual run-rate savings to $210M; offsetting investment in brokerage.
- CEO cites recovery signs as credit spreads narrow and asset prices adjust.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1037976/000103797623000028/0001037976-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1037976/000103797623000028/jll-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001037976-23-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer