Cushman & Wakefield Q1 net loss narrows 62% to $28.8M; adjusted EBITDA up 28%

Cushman & Wakefield Ltd.

2024-Q1 EPS reported -$0.13 revenue$2,184,800,000

Revenue $2.18B down 3% YoY; service line fee revenue flat; Leasing +5%, Capital markets -1%.
Net loss $28.8M ($0.13 diluted EPS) vs loss $76.4M ($0.34) in Q1 2023; adjusted EBITDA $78.1M +28%.
Prepaid $50M term loans due 2025; repriced $1B term loans due 2030, saving ~$6M annual interest.
Liquidity $1.7B ($1.1B undrawn revolver + $0.6B cash).
CEO Michelle MacKay cited solid leasing growth, cost discipline, and margin expansion.

item 2.02 item 9.01

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 first quarter of 2024 results: revenue $2.2 billion, net income Net loss of $28.8 million, EPS Diluted loss per share ... was $0.13.

Period: first quarter of 2024
Revenue: $2.2 billion
Net income: Net loss of $28.8 million
EPS: Diluted loss per share ... was $0.13
Result: reported results

Exact text from the filing

to Services. The change was to the name only and had no impact on the composition of the Company’s service lines or its historical results. First Quarter Results: • Revenue of $2.2 billion for the first quarter of 2024 decreased 3% from the first quarter of 2023. Service line fee revenue was flat compared to the first quarter of 2023. ◦ Strong Leasing growth of 5%

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Cushman & Wakefield Ltd. filing history →

Source: SEC EDGAR

accession 0001628369-24-000008

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