---
schema_version: "secwatch.filing_event.v1"
accession: "0001628369-23-000003"
form_type: "8-K"
ticker: "CWK"
cik: "0001628369"
company_name: "Cushman & Wakefield Ltd."
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T02:43:58.481117+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cushman & Wakefield Q4 revenue down 8%, adjusted EBITDA down 37% YoY

## Summary
- Q4 2022 revenue $2.6B (-8% YoY); service line fee revenue $1.9B (-17% YoY).
- Q4 net income $29.8M ($0.13 diluted EPS); adjusted EPS $0.46 vs $0.94 prior year.
- Full year 2022 revenue $10.1B (+8% YoY); adjusted EBITDA $898.8M (+1% YoY).
- Full year adjusted EPS $2.00 vs $2.04 in 2021; net income $196.4M ($0.86 diluted EPS).
- Extended $1.0B of term loan facility to Jan 2030; liquidity $1.7B as of Dec 31, 2022.

## SEC filing metadata
- accession: 0001628369-23-000003
- form_type: 8-K
- ticker: CWK
- cik: 0001628369
- company_name: Cushman & Wakefield Ltd.
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000003/0001628369-23-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000003/cwk-20230223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628369-23-000003
- JSON: https://secwatch.observer/filing/0001628369-23-000003.json
- Plain text: https://secwatch.observer/filing/0001628369-23-000003.txt

## Key facts
- Earnings Releases
  Cushman & Wakefield Ltd. reported fourth quarter of 2022 results: revenue $2.6 billion, net income $29.8 million, EPS $0.13.
  - Period: fourth quarter of 2022
  - Revenue: $2.6 billion
  - Net income: $29.8 million
  - EPS: $0.13
  - Result: reported results
  source text: Fourth Quarter 2022 Results • Revenue of $2.6 billion and service line fee revenue of $1.9 billion for the fourth quarter of 2022 decreased 8% and 17%, respectively, from the fourth quarter of 2021. ◦ Property, facilities and project management grew 5%, led by the Americas and APAC. ◦ Leasing, Capital markets and Valuation and other declined 13%, 53% and 16%, respectively. • Net income and diluted earnings per share for the fourth quarter of 2022 were $29.8 million and $0.13, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000003/0001628369-23-000003-index.htm
- Earnings Releases
  Cushman & Wakefield Ltd. reported full year 2022 results: revenue $10.1 billion, net income $196.4 million, EPS $0.86.
  - Period: full year 2022
  - Revenue: $10.1 billion
  - Net income: $196.4 million
  - EPS: $0.86
  - Result: reported results
  source text: Full Year 2022 Results • Revenue of $10.1 billion and service line fee revenue of $7.2 billion for the year ended December 31, 2022 increased 8% and 5%, respectively, from the year ended December 31, 2021. ◦ Leasing and Property, facilities and project management experienced continued growth, led by the Americas. ◦ Capital markets and Valuation and other declined 12% and 3%, respectively. • Net income and diluted earnings per share for the year ended December 31, 2022 were $196.4 million and $0.86, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000003/0001628369-23-000003-index.htm

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