---
schema_version: "secwatch.filing_event.v1"
accession: "0001628369-23-000008"
form_type: "8-K"
ticker: "CWK"
cik: "0001628369"
company_name: "Cushman & Wakefield Ltd."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:10:50.707528+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cushman & Wakefield posts Q1 net loss of $76.4M; revenue down 4%, leasing and capital markets decline sharply

## Summary
- Net loss $76.4M ($0.34 diluted EPS); adjusted EPS loss $0.04 vs $0.48 prior year.
- Total revenue $2.2B down 4%; service line fee revenue $1.5B down 12% YoY.
- Leasing -20%, capital markets -51% YoY; property/facilities/project management +7%.
- Adjusted EBITDA $60.9M down 72%; realized $21M cost savings in Q1, targeting $90M annualized.
- Liquidity $1.6B: $1.1B undrawn revolver and $0.5B cash as of March 31, 2023.

## SEC filing metadata
- accession: 0001628369-23-000008
- form_type: 8-K
- ticker: CWK
- cik: 0001628369
- company_name: Cushman & Wakefield Ltd.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000008/0001628369-23-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000008/cwk-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628369-23-000008
- JSON: https://secwatch.observer/filing/0001628369-23-000008.json
- Plain text: https://secwatch.observer/filing/0001628369-23-000008.txt

## Key facts
- Earnings Releases
  Cushman & Wakefield Ltd. reported the first quarter of 2023 results: revenue $2.2 billion, net income $76.4 million, EPS $0.34. Guidance reaffirmed.
  - Period: the first quarter of 2023
  - Revenue: $2.2 billion
  - Net income: $76.4 million
  - EPS: $0.34
  - Guidance: reaffirmed
  - Result: reported results
  source text: Revenue of $2.2 billion and service line fee revenue of $1.5 billion for the first quarter of 2023 decreased 4% and 12%, respectively, from the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000008/0001628369-23-000008-index.htm

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