8-K
filed July 31, 2023, 7:59 PM ET
ticker CWK
CIK 0001628369
earnings
confidence high
sentiment negative
materiality 0.80
Cushman & Wakefield Q2 revenue falls 8% to $2.4B; adjusted EPS $0.22 vs $0.63, Capital markets down 48%
Cushman & Wakefield Ltd.
2023-Q2 EPS reported
-$0.31
revenue$4,655,300,000
- Q2 revenue $2.4B (-8% YoY); service line fee revenue $1.6B (-15%).
- Net income $5.1M ($0.02 EPS); adjusted EBITDA $146.1M (-44%); adjusted EPS $0.22 vs $0.63.
- Leasing -20%, Capital markets -48%, Valuation & other -13%; property/facilities/project mgmt +2%.
- Full-year gross cost savings target raised to $130M; $49M achieved in H1.
- Liquidity $1.6B as of June 30; YTD net loss $71.3M, adjusted EPS $0.18.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Cushman & Wakefield Ltd. reported the second quarter of 2023 results: revenue $2.4 billion, net income $5.1 million, EPS $0.02.
- Period
- the second quarter of 2023
- Revenue
- $2.4 billion
- Net income
- $5.1 million
- EPS
- $0.02
- Result
- reported results
Exact text from the filing
consisting of availability on the Company's undrawn revolving credit facility of $1.1 billion and cash and cash equivalents of $0.5 billion. Second Quarter Results: • Revenue of $2.4 billion and service line fee revenue of $1.6 billion for the second quarter of 2023 decreased 8% and 15%, respectively, from the second quarter of 2022. ◦ Property, facilities and
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Cushman & Wakefield Ltd. reported the first half of 2023 results: revenue $4.7 billion, net income $71.3 million, EPS $(0.31).
- Period
- the first half of 2023
- Revenue
- $4.7 billion
- Net income
- $71.3 million
- EPS
- $(0.31)
- Result
- reported results
Exact text from the filing
2023 CHICAGO (BUSINESS WIRE), July 31, 2023 — Cushman & Wakefield (NYSE: CWK) today reported financial results for the second quarter of 2023: Year-to-Date Results: • Revenue of $4.7 billion and service line fee revenue of $3.1 billion for the first half of 2023 decreased 6% and 13%, respectively, from the first half of 2022. ◦ Property, facilities and project
View on SEC.gov
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