CWK
Cushman & Wakefield Limited15.42
+0.12+0.78%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.57BP/E (TTM)
16.23Basic EPS (TTM)
0.95Dividend Yield
0%Recent Filings
8-K
10-Q
Q3 FY2025 results
Cushman & Wakefield posted solid Q3 results, with revenue climbing 11% year-over-year to $2.6B, fueled by 9% leasing growth in the Americas from office and industrial demand, and 21% capital markets surge across asset classes. Operating income jumped 43% to $107.5M, while diluted EPS held steady at $0.22 amid dilutive effects from restricted stock units; year-to-date, revenue rose 8% to $7.4B and EPS improved to $0.47 from $0.08. Adjusted EBITDA, fully reconciled in the filing, grew 12% to $159.6M, with margins edging up to 9.0% on service fees. Cash dipped to $634.4M after $200M term loan prepayments, yet liquidity stays robust at $1.7B including $1.1B revolver availability; free cash flow (derived) was negative due to $24.4M capex against $83.1M operating cash. Debt totals $2.8B, with no near-term maturities post-repricings. Still, regulatory scrutiny on revenue software use poses a lingering risk.
8-K
Q3 revenue surges 11%
Cushman & Wakefield posted Q3 2025 revenue of $2.6 billion, up 11% year-over-year, fueled by 21% capital markets growth and 9% leasing gains in the Americas. Adjusted EBITDA climbed 12% to $159.6 million, with margins edging up 23 basis points to 9.0%, while net income rose 53% to $51.4 million. The firm prepaid $100 million in term loan debt, trimming net debt to $2.2 billion, and raised full-year Adjusted EPS guidance to 30%-35% growth. Debt reduction bolsters balance sheet resilience.
8-K
Cushman & Wakefield announces amendment to Credit Agreement extending revolving commitments to October 21, 2030, with reduced interest rates and facility size to $1.0 billion.
8-K
Redomiciliation approved, closing November 27
Cushman & Wakefield shareholders overwhelmingly approved the redomiciliation from England and Wales to Bermuda on October 16, 2025, with votes in favor ranging from 95.22% to 99.99% across key proposals. The move, set to close November 27, 2025, aims to cut administrative costs while preserving governance and capital flexibility. Shareholders get one-for-one New Cushman & Wakefield shares. Yet closing hinges on court sanction.
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