---
schema_version: "secwatch.filing_event.v1"
accession: "0001628369-23-000013"
form_type: "8-K"
ticker: "CWK"
cik: "0001628369"
company_name: "Cushman & Wakefield Ltd."
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:05:12.780324+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cushman & Wakefield Q2 revenue falls 8% to $2.4B; adjusted EPS $0.22 vs $0.63, Capital markets down 48%

## Summary
- 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.

## SEC filing metadata
- accession: 0001628369-23-000013
- form_type: 8-K
- ticker: CWK
- cik: 0001628369
- company_name: Cushman & Wakefield Ltd.
- filed_at: 2023-07-31T23:59:59+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/1628369/000162836923000013/0001628369-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000013/cwk-20230731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628369-23-000013
- JSON: https://secwatch.observer/filing/0001628369-23-000013.json
- Plain text: https://secwatch.observer/filing/0001628369-23-000013.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000013/0001628369-23-000013-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628369/000162836923000013/0001628369-23-000013-index.htm

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