secwatch.observer — SEC 8-K summary
======================================

Issuer:     Cushman & Wakefield Ltd. (CWK)
CIK:        0001628369
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001628369-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cushman & Wakefield Q4 revenue $2.6B (-4% YoY); FY net loss $35M, adj. EPS $0.84
--------------------------------------------------------------------------------

- Q4 service line fee revenue $1.8B (-2% YoY), with leasing +5%, capital markets -31%.
- Q4 adjusted diluted EPS $0.45 vs. $0.46 in Q4 2022; net income $69.8M.
- FY 2023 revenue $9.5B (-6% YoY), net loss $35.4M, adjusted EBITDA $570M (-37%).
- Free cash flow $101M; liquidity $1.9B with $0.8B cash and $1.1B undrawn revolver.
- CEO MacKay cites debt refinancings, cost reduction, and focus on long-term growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628369/000162836924000003/0001628369-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628369/000162836924000003/cwk-20240220.htm
  HTML page:      https://secwatch.observer/filing/0001628369-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer