Cushman & Wakefield (CWK)
NYSE:CWK
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.28Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive picture: strong top-line growth (+9%), meaningful adjusted EBITDA (+15%) and adjusted EPS (+67%) gains, record first-quarter Leasing performance, continued Capital Markets momentum, progress on Services and Project Management, solid free cash flow conversion (~70% of adjusted net income), and deliberate balance sheet progress. Key near-term negatives were concentrated in APAC profitability (driven by tough comps and a $3.5M one-time provision), some Facility Services contract transitions in The Americas, and reduced disclosure on certain non-GAAP service-line metrics. Overall the positive operational and financial momentum significantly outweighs the limited, identifiable challenges.Company Guidance
Revenue Growth
First quarter revenue of $2.5 billion, up 9% year-over-year, driven by broad strength across service lines and growth initiatives.
Adjusted EBITDA Expansion
Adjusted EBITDA rose 15% to $111 million, reflecting operating leverage across the platform and 30 basis points of margin expansion in the quarter.
Adjusted EPS Acceleration
Adjusted EPS was $0.15, an increase of 67% year-over-year, reflecting strong business performance and balance sheet improvements.
Record Leasing Performance
Leasing revenue grew 17% (Americas Leasing up 19%), achieving the highest first-quarter leasing revenue in company history with growth across deal sizes and 15 of top 20 U.S. cities showing gains.
Capital Markets Momentum
Capital Markets delivered its sixth consecutive quarter of double-digit revenue growth: global growth of 14% and 22% growth in The Americas, with institutional client revenues up 32%.
Services Progress and Project Management Strength
Services revenue grew 7% overall, with Project Management up 15% driven by international performance; EMEA saw its fifth consecutive quarter of margin expansion in Services.
Cash Flow and Liquidity
Trailing twelve months free cash flow was ~70% of adjusted net income (within target 60%-80%); ended quarter with approximately $600 million cash and $1.6 billion total liquidity.
Balance Sheet Deleveraging
Net leverage improved to 3.1x (near a full-turn improvement year-over-year) and the company announced intent to redeem $100 million of 2028 notes, part of roughly $100 million total debt repaid since 2024 toward a 2x leverage target by 2028.
AI and Data Center Tailwinds
Company highlighted AI as a structural growth driver: 50 technical advisory data center projects underway in APAC, Bay Area AI footprint tracked at 7M sq ft (up from 4.5M in 2025), and company research expects AI to drive ~330M sq ft of incremental demand over the next decade.
Outlook and Multi-Year Targets Maintained
Full-year guidance unchanged: revenue growth 6%-8% and adjusted EPS growth 15%-20%; three-year GAAP revenue growth target remains 6%-8%, ~150 basis points margin expansion expected over three years, and targets for 15%-20% annual adjusted EPS growth, 60%-80% FCF conversion, and 2x net leverage by 2028 are reaffirmed.
CWK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CWK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $14.46 | $13.85 | -4.22% |
Feb 19, 2026 | $13.56 | $13.13 | -3.17% |
Oct 30, 2025 | $16.53 | $16.18 | -2.12% |
Aug 05, 2025 | $12.32 | $13.39 | +8.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cushman & Wakefield (CWK) report earnings?
Cushman & Wakefield (CWK) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Cushman & Wakefield (CWK) earnings time?
Cushman & Wakefield (CWK) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is CWK EPS forecast?
Currently, no data Available