---
schema_version: "secwatch.filing_event.v1"
accession: "0001628369-22-000025"
form_type: "8-K"
ticker: "CWK"
cik: "0001628369"
company_name: "Cushman & Wakefield Ltd."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T09:14:14.299121+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cushman & Wakefield Q3 net income down 65% to $23.9M; capital markets fee revenue falls 20%

## Summary
- Revenue $2.5B (+8% YoY); service line fee revenue $1.8B (+4% YoY).
- Leasing fee revenue up 13% YoY; capital markets fee revenue declined 20%.
- Adjusted EPS $0.43, down 10% YoY; adjusted EBITDA $201.9M (-8% YoY).
- Net income $23.9M ($0.11 diluted EPS) vs $68.7M ($0.30) in Q3 2021.
- Liquidity $1.5B with $1.1B undrawn revolver and $0.4B cash.

## SEC filing metadata
- accession: 0001628369-22-000025
- form_type: 8-K
- ticker: CWK
- cik: 0001628369
- company_name: Cushman & Wakefield Ltd.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628369/000162836922000025/0001628369-22-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628369/000162836922000025/cwk-20221103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628369-22-000025
- JSON: https://secwatch.observer/filing/0001628369-22-000025.json
- Plain text: https://secwatch.observer/filing/0001628369-22-000025.txt

## Key facts
- Earnings Releases
  Cushman & Wakefield Ltd. reported nine months ended September 30, 2022 results: revenue $7.5 billion, net income $166.6 million, EPS $0.73.
  - Period: nine months ended September 30, 2022
  - Revenue: $7.5 billion
  - Net income: $166.6 million
  - EPS: $0.73
  - Result: reported results
  source text: Year-to-Date Results: • Revenue of $7.5 billion and service line fee revenue of $5.4 billion for the nine months ended September 30, 2022 increased 15% and 16%, respectively, from the nine months ended September 30, 2021. ◦ Leasing, Capital markets and Property, facilities and project management experienced continued growth, led by the Americas. • Net income and earnings per share for the nine months ended September 30, 2022 were $166.6 million and $0.73, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836922000025/0001628369-22-000025-index.htm
- Earnings Releases
  Cushman & Wakefield Ltd. reported third quarter of 2022 results: revenue $2.5 billion, net income $23.9 million, EPS $0.11.
  - Period: third quarter of 2022
  - Revenue: $2.5 billion
  - Net income: $23.9 million
  - EPS: $0.11
  - Result: reported results
  source text: Third Quarter Results: • Revenue of $2.5 billion and service line fee revenue of $1.8 billion for the third quarter of 2022 increased 8% and 4%, respectively, from the third quarter of 2021. ◦ Leasing and Property, facilities and project management grew 13% and 10%, respectively. ◦ Capital markets declined 20%. • Net income and earnings per share for the third quarter of 2022 were $23.9 million and $0.11, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836922000025/0001628369-22-000025-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.