Earnings Presentation 14.88 Fourth Quarter 2025 February 18, 2026 Cautionary note regarding forward-looking statements Statements in this presentation regarding, among other things, future financial results and performance, achievements, plans, objectives and share repurchases may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors, the occurrence of which are ou ...

Exhibit 99.1 News Release JLL Reports 2025 Financial Results for Fourth Quarter and Full Year JLL achieved a record fourth-quarter diluted earnings per share of $8.34, up 66% versus the prior-year quarter (in local currency ) 1 CHICAGO, February 18, 2026 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported 2025 operating performance for the fourth quarter and full year. This was the seventh consecutive quarter of double-digit revenue increases driven by an acceleration of Transactional revenue growt ...

This story was originally published on Facilities Dive. To receive daily news and insights, subscribe to our free daily Facilities Dive newsletter. JLL grew revenue 12% year over year in the fourth quarter of 2025, to $7.6 billion, helped by growth in real estate management services and in office and industrial leasing, the company said in its earnings report Wednesday.  Real estate management services revenue increased 9% year over year in the fourth quarter, to $5.6 billion. Within the segment, workplac ...

Core Insights - Wall Street analysts forecast that Jones Lang LaSalle (JLL) will report quarterly earnings of $7.25 per share, reflecting a year-over-year increase of 17.9% and anticipated revenues of $7.33 billion, which is a 7.6% increase compared to the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised 0.5% higher over the last 30 days, indicating a collective reevaluation by analysts [2] - Prior to earnings releases, revisions to earnings projections are crucial for predicting investor behavior, with empirical studies showing a strong link between earnings estimate revisions and short-term stock price performance [3] Key Metrics - Analysts expect 'Adjusted EBITDA- Leasing Advisory / Markets Advisory' to be $186.19 million, up from $170.80 million year-over-year [5] - The 'Adjusted EBITDA- Capital Markets' is projected to reach $145.51 million, compared to $119.90 million in the same quarter last year [5] - The consensus estimate for 'Adjusted EBITDA- Investment Management' is $29.65 million, down from $42.60 million year-over-year [6] - Analysts suggest 'Adjusted EBITDA- Real Estate Management Services' will likely be $159.25 million, up from $120.00 million in the same quarter of the previous year [6] Stock Performance - Over the past month, Jones Lang LaSalle shares have recorded returns of -18.7%, contrasting with the Zacks S&P 500 composite's -1.7% change [6] - Based on its Zacks Rank 3 (Hold), JLL is expected to perform in line with the overall market in the upcoming period [6]

Group 1 - The core viewpoint of the articles highlights concerns over the impact of artificial intelligence on the commercial real estate services sector, leading to a sell-off in stocks of major firms like CBRE Group, Jones Lang LaSalle, and Cushman & Wakefield [1][3] - CBRE Group, Jones Lang LaSalle, and Cushman & Wakefield operate as "picks-and-shovels" firms in the commercial property market, generating revenue through advisory services tied to transaction volumes [2] - The potential for AI to reduce the need for large teams and high-margin advisory fees raises questions about the sustainability of current business models in the real estate services industry [3] Group 2 - CBRE Group reported a fourth-quarter adjusted EPS of $2.73, exceeding the consensus estimate of $2.67, although revenue of approximately $11.63 billion fell slightly short of expectations [4] - The company provided FY2026 adjusted EPS guidance of $7.30 to $7.60, with the midpoint surpassing Wall Street estimates, which initially supported the stock before it closed down about 8% at $136.28 [5] - Rising legal costs and uncertainties related to private listing networks are identified as near-term challenges for the industry [6]

Core Viewpoint - Commercial real estate stocks have experienced significant declines due to concerns about reduced demand for office space stemming from the increased use of artificial intelligence tools [1][4]. Group 1: Stock Performance - CBRE Group Inc. shares fell 8.8%, marking a two-day decline of 20%, the worst since 2020 [1]. - Other notable declines include Jones Lang LaSalle Inc. down 7.6%, Cushman & Wakefield Ltd. down 12%, and Newmark Group Inc. down 4.2% [1]. - An index tracking office real estate companies retreated by 4.2%, with major decliners including SL Green Realty Corp., Cousins Properties Inc., Kilroy Realty Corp., and BXP Inc. [2]. Group 2: Market Sentiment - Concerns regarding AI's impact on office space demand have been present for some time, but recent selloffs have intensified [2]. - Analysts describe the current market environment as a "ready fire aim" scenario, where investors react sharply to even minor earnings misses due to fears of AI disruption [3]. - The selloff is part of a broader trend referred to as the "AI scare trade," affecting various sectors including software, private credit, and logistics [3][4]. Group 3: Analyst Insights - Analysts have noted that the market is pricing in potential mass job losses in office-using sectors due to AI advancements [4]. - Some analysts caution that the recent steep selling may be an overreaction and could be misjudging the actual risks involved [5].

Core Insights - JLL arranged a $596 million refinancing for The Crescent, a mixed-use property in Uptown Dallas, Texas [1] - The property spans 1.3 million square feet and includes trophy office space and luxury retail [1] - The refinancing was secured through a three-year, floating-rate CMBS loan from Goldman Sachs and J.P. Morgan [1] Property Overview - The Crescent consists of three office towers and an atrium building, totaling 1,206,239 square feet of office space and 167,510 square feet of retail [1] - The property has undergone significant renovations in the last five years and is surrounded by high-quality amenities [1] - It is 90% leased to prominent tenants including Jeffries, BankUnited, and Wells Fargo [1] Market Context - Uptown Dallas has become the highest performing submarket in the city, with a 57.1% rent growth since 2014 [1] - The area is characterized by its affluent neighborhoods and has seen a scarcity of Tier 1 office products [1] Company Background - Crescent Real Estate LLC manages over $10 billion in assets and operates across various real estate asset classes [1] - JLL is a leading global commercial real estate and investment management company with annual revenue of $23.4 billion [1]

Group 1 - The U.S. real estate services sector has been significantly impacted by the latest wave of AI-induced panic selling, with major companies like CBRE and JLL experiencing stock price drops of 12% and 14% respectively, marking their largest single-day declines since the COVID-19 pandemic began in 2020 [1] - The commercial real estate industry in the U.S. has been struggling to recover due to the pandemic's disruption of office space demand and high interest rates suppressing transaction volumes, despite some growth in niche areas like data centers and high-end office leasing driven by the AI boom [1] - Investors are increasingly wary of the potential impact of AI technology on the industry, fearing that automation and streamlined transaction processes could disrupt high-fee, labor-intensive business models, leading to a shift away from real estate service firms perceived as vulnerable to AI disruption [1] Group 2 - Barclays analyst Brendan Lynch noted that the recent stock price declines appear "excessive" given that there were no significant negative developments in the news, indicating that the associated risks have not changed [2] - Jefferies analyst Joe Dickstein believes that the threat of AI to leasing and capital markets is limited, asserting that firms like CBRE will maintain their positions as large leasing and transaction intermediaries due to their scale advantages in data accumulation and industry relationships [2] - The panic selling triggered by AI concerns has spread across multiple sectors, including SaaS, insurance brokerage, and wealth management, with significant stock pressure observed following the launch of AI-based applications in these industries [2]

Group 1 - The core viewpoint of the article highlights the impact of AI-induced panic selling in the real estate services sector, with significant stock declines observed in companies like CBRE, Jones Lang LaSalle, and Cushman & Wakefield, which dropped 12% and 14% respectively, marking their largest declines since the pandemic began [1][3][4] - The article discusses the broader context of AI technology's rapid penetration across various industries, leading to fears that high-fee, labor-intensive business models in real estate may be vulnerable to disruption [3][4] - Analysts from Keefe, Bruyette & Woods and Jefferies express that the current sell-off may be an exaggerated emotional response, suggesting that the actual threat from AI to the real estate sector is limited in the short term due to the companies' established market positions and relationships [5][3] Group 2 - The article notes that the commercial real estate sector is already struggling to recover from the pandemic's impact on office demand and rising interest rates, which have hindered transaction volumes [4] - It mentions that companies like CBRE and Jones Lang LaSalle have been diversifying their business models into property management, asset valuation, and cross-industry investment sales to mitigate cyclical risks associated with traditional brokerage services [4][3] - The recent downturn in real estate stocks is characterized as part of a broader trend of "AI panic trading," which has also affected software companies, private credit firms, wealth management companies, and insurance brokers [4][1]

Group 1 - The core point of the article highlights a significant drop in U.S. real estate service stocks due to concerns over the impact of AI technology on high-labor and high-fee business models, with CBRE and JLL both falling over 12% and Cushman & Wakefield nearly 14% [1] - The decline is seen as part of a broader "AI panic trading," affecting various sectors including software and private equity, with real estate services being the latest to experience rapid capital withdrawal [2][3] - Analysts suggest that the current sell-off may be an exaggerated emotional response, as the direct threat of AI to real estate leasing and capital markets remains limited, with firms like CBRE maintaining significant advantages in data scale and industry relationships [3] Group 2 - The commercial real estate sector is struggling to recover from the pandemic's impact on office demand and rising interest rates, which have severely affected transaction volumes [2] - In response to industry challenges, companies like CBRE and JLL have diversified their business models into property management, asset valuation, and cross-industry investment sales to mitigate cyclical risks associated with traditional brokerage [2] - Some analysts argue that the market's reaction to AI-related risks is overblown, especially given the absence of significant new negative information on the day of the stock declines [2]