Cushman & Wakefield Q3 net income $33.7M vs loss; leasing grows 13% YoY

Cushman & Wakefield Ltd.

2024-Q3 EPS reported $0.08 revenue$6,817,000,000

Net income of $33.7M ($0.14 diluted EPS) vs net loss of $33.9M a year ago; adjusted diluted EPS $0.23.
Revenue $2.3B up 3% YoY; global leasing revenue grew 13% led by industrial and office in Americas and APAC.
Adjusted EBITDA $142.5M decreased 5% YoY, margin 8.7% down 72 bps; year-to-date adjusted EBITDA up 1%.
Year-to-date free cash flow improved $146.1M to $61.1M; fully repaid term loan due 2025, repriced $1B term loans due 2030 by -50bps.
Completed sale of non-core Services business in Americas for loss of $4.5M in Q3.

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