Jones Lang LaSalle Incorporated reported strong operating performance for the fourth quarter and full year 2024. For Q4, diluted earnings per share were $4.97, up from $3.57 in the prior-year quarter, and adjusted diluted earnings per share were $6.15, up from $5.36.
Fourth-quarter revenue reached $6.8 billion, an increase of 16% in local currency, driven by a 22% rise in transactional revenues and a 13% increase in resilient revenues. Capital Markets achieved 32% growth, Leasing increased 14%, and Work Dynamics delivered double-digit growth, led by Workplace Management and Project Management.
For the full year 2024, diluted earnings per share were $11.30, up from $4.67 in 2023, and adjusted diluted earnings per share were $14.01, up from $10.39. Full-year revenue increased 13% to $23.4 billion, with Adjusted EBITDA growing 26% to $1,186.3 million.
JLL generated $785 million of operating cash flows in 2024, an incremental $210 million over the prior year, and Free Cash Flow increased 54% to $599.8 million. The company also significantly reduced its Net Debt to $800.6 million as of December 31, 2024, resulting in a Net Leverage Ratio of 0.7x, demonstrating strong financial health and capital management.
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