Jones Lang LaSalle Incorporated

Q3, 2026 earnings conference call for Jones Lang LaSalle Incorporated. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, please press star one again. I will now hand the conference over to Sean Coughlin, head of investor relations. Sean, please go ahead.

Thank you and good morning. Welcome to the third quarter 2026 earnings conference call for Jones Lang LaSalle Incorporated. Earlier this morning, we issued our earnings release along with a slide presentation and Excel file intended to supplement our prepared remarks. These materials are available on the investor relations section of our website. Please visit ir.jla.com. During the call, as well as in our slide presentation and supplemental Excel file, We referenced our non-GAAP financial measures, which we believe provide useful information for investors. We include reconciliations of non-GAAP financial measures to GAAP in our earnings release and slide presentation. We also reference resilient and advisory revenues, which we define in the footnotes of our earnings release. As a reminder, today's call is being webcast live and recorded. A transcript and recording of this conference call will be posted to our website. Any statements made about future results and performance and many more. Thank you for joining us today. I will now turn the call over to Christian Ulbrich, our president and chief executive officer, for opening remarks.

Thank you, Sean. This morning, we reported a record third quarter at both the top and bottom line. Revenue increased 12%. Advisory growth accelerated to 22%, even against tougher comparisons. And our resilient businesses delivered continued growth in line with expectations. Adjusted EBITDA increased 33%, with margins expanding faster and notably higher than a year ago. Adjusted EPS accelerated even more, up 52%, a very strong result reflecting our track record of converting growth into profit for shareholders. Last quarter, I told you I was pleased with how Accelerate 2030 was taking hold across JLL. Even at this early stage, our momentum and progress are very encouraging. Our teams are aligned behind our strategy and we are evolving how we serve our clients, how we operate as one firm, and how we lead our industry. That includes strengthening our leadership team, organization, and operations, evolving the foundation to achieve our long-term strategic and financial objectives. We have a clear and focused strategy with each of our six Accelerate 2030 imperatives positioned to expand our leadership across our core businesses. Today, I will update you on two of the six imperatives of Accelerate 2030. Deepened client relationships and unlocked platform excellence. Let me start with deepened client relationships. Clients are consolidating around fewer, more strategic partners and that favors an integrated firm like JLL. The objective of this imperative is to position JLL as the integrated partner that the world's leading occupiers and investors turn to across the full real estate lifecycle. That requires a programmatic one JLL approach across our global teams to service enterprise clients seamlessly. We use our proprietary data to identify where we can deliver more value for each client and then focus our growth efforts on the right opportunities. The foundation is strong. Over the last three years, we have retained 99% of our top 100 clients and working across business lines as one JLL is part of our culture. It gives us significant upside. More clients to win and existing enterprise relationships to expand. We have established a team of country CEOs across our most important markets to deliver a seamless OneJLL experience for clients wherever they engage with us. In each major market, the country CEO is our most senior leader on the ground. They coordinate across business lines and drive cross-selling so clients experience our global reach combined with local expertise. Earlier this month, we appointed Mark Gibson as our country CEO for the US, our largest market. Mark has led Capital Markets Americas for seven years and before that led HFF until we acquired it in 2019. He joins a very strong team of country leaders working together to capture the client opportunity. Platform Excellence is the operational engine behind Accelerate 2030. For the last decade, we have built a unified global platform incorporating our operating structure, our leading technology tools, and our shared service model. The next phase is scaling that platform across our businesses globally and accelerating the value it creates so every business line can benefit from shared capabilities, consistent delivery, and greater efficiency. In September, we named Paul Morgan, previously CEO of Real Estate Management Services, as our Chief Operating Officer. Paul has joined our global executive board and he's bringing our enterprise operations together in one global function. Building on our platform, we are making progress quickly and AI is an integral part of it. Here are two recent examples. In July, we launched Ask JLL. and AI-powered front door for colleagues around the world, empowering them to find answers and act across our corporate functions, such as foundational HR and IT support. We're also redesigning invoicing and collections across our business lines globally using AI agents and automation. As our platform scales, it frees capacity for growth, unlocks cash faster, lowers the cost to serve, Drive Standardization, and Titans Controls. Increasingly, it offers real-time opportunities to improve working capital efficiency. As part of Accelerate 2030, we expect the enhancement of our platform to contribute more than 20 basis points of annual margin expansion on average, increasing as years progress. That is roughly one-third of the annual expansion embedded in our Accelerate 2030 target. The advancements we have made on our Accelerate 2030 strategy reflect the steps we are taking across JLL to make our organization even more integrated, more efficient, and more resilient. With that, I will now turn the call over to Kelly Howe, our Chief Financial Officer, who will provide more details on our results for the quarter.