Jones Lang LaSalle Incorporated (NYSE:JLL) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 09:00 am ET

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Jones Lang LaSalle Incorporated (NYSE:JLL) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning. At this time, I'd like to welcome everyone to the Jones Lang LaSalle Incorporated Second Quarter Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Chris Stent, Executive Managing Director of Investor Relations. Please go ahead.

Executive
Chris Stent

Thank you, and good morning. Welcome to our second quarter 2020 conference call for Jones Lang LaSalle Incorporated. Earlier this morning, we issued our earnings release, which is available on the Investor Relations section of our website along with the slide presentation intended to supplement our prepared remarks. Please visit ir.jll.com. During the call, we will reference certain 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 supplemental slides. As a reminder, today's conference call is being webcast live and recorded.

A transcript of this call will also be posted on our website. Any statements made about future results and performance, plans, expectations and objectives are forward-looking statements. Actual results and performance may differ from those forward-looking statements as a result of factors discussed in the annual report on Form 10-K of the fiscal year ended December 31, 2019, and in other reports filed with the SEC. The company disclaims any undertaking to publicly update or revise any forward-looking statements.

I will now turn the call over to Christian Ulbrich, our President and Chief Executive Officer, for opening remarks.

Executive
Christian Ulbrich

Thank you, Chris. Good morning, and welcome to our second quarter call. I'm pleased to welcome Karen Brennan, our newly appointed CFO, to her first earnings call. In addition to Karen, we have Richard Bloxam, CEO, Capital Markets and Valuations; as well as Neil Murray, CEO of our Corporate Solutions business with us for the Q&A portion of the call. On behalf of everyone at JLL, we would like to extend our appreciation to Stephanie Plaines for her service as CFO. We wish Stephanie all the best in her next chapter. When we spoke on the first quarter earnings call, the COVID-19 pandemic had proliferated across the world, leaving many wondering how to successfully operate in a lockdown environment. With the experience of the second quarter behind us, I'm very encouraged by JLL's ability to rapidly respond and adapt to the challenges presented. We concentrated our focus on three priorities in the second quarter: first, the safety and well-being of our employees; second, our clients; and third, cash management.

With respect to our clients, our teams have been available during all phases of the lockdown, brilliantly advising and supporting them on best practices and procedures to ensure that their workspaces meet the safety standards and social distancing guidelines necessary for their employees to feel comfortable with reentry. In addition, we are providing clients with thoughtful advice about how we will all need to rethink the function and design of commercial real estate in a post-pandemic future. On a personal note, I can tell you that I have never received so many thank